Pinterest, Inc. (NYSE:PINS) Director Sells $34,189.50 in Stock

Pinterest, Inc. (NYSE:PINS) Director Gokul Rajaram sold 1,150 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $29.73, for a total value of $34,189.50. Following the transaction, the director now directly owns 32,536 shares in the company, valued at approximately $967,295.28. This represents a 3.41 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Gokul Rajaram also recently made the following trade(s):

• On Wednesday, October 16th, Gokul Rajaram sold 1,150 shares of Pinterest stock. The shares were sold at an average price of $33.52, for a total value of $38,548.00.

Pinterest Price Performance

Shares of PINS stock traded up $0.08 during trading hours on Thursday, reaching $29.31. 11,351,678 shares of the company’s stock were exchanged, compared to its average volume of 9,626,346. Pinterest, Inc. has a 1 year low of $27.00 and a 1 year high of $45.19. The company has a market cap of $19.81 billion, a P/E ratio of 97.45, a price-to-earnings-growth ratio of 2.13 and a beta of 1.02. The company’s 50 day moving average is $31.71 and its two-hundred day moving average is $35.97.

Institutional Trading of Pinterest

A number of institutional investors have recently modified their holdings of the business. State Street Corp boosted its position in Pinterest by 1.2% during the third quarter. State Street Corp now owns 12,773,652 shares of the company’s stock worth $413,483,000 after purchasing an additional 156,748 shares in the last quarter. Baillie Gifford & Co. boosted its position in Pinterest by 9.5% during the second quarter. Baillie Gifford & Co. now owns 10,116,139 shares of the company’s stock worth $445,818,000 after purchasing an additional 880,398 shares in the last quarter. Geode Capital Management LLC boosted its position in Pinterest by 0.8% during the third quarter. Geode Capital Management LLC now owns 9,466,585 shares of the company’s stock worth $305,710,000 after purchasing an additional 76,920 shares in the last quarter. Ontario Teachers Pension Plan Board boosted its position in Pinterest by 51.5% during the third quarter. Ontario Teachers Pension Plan Board now owns 8,812,117 shares of the company’s stock worth $285,248,000 after purchasing an additional 2,996,750 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in Pinterest by 6.8% during the second quarter. Bank of New York Mellon Corp now owns 5,960,861 shares of the company’s stock worth $262,695,000 after purchasing an additional 380,431 shares in the last quarter. 88.81% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PINS has been the topic of several research analyst reports. Citigroup dropped their price objective on Pinterest from $51.00 to $44.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. Royal Bank of Canada reiterated an “outperform” rating and set a $48.00 price objective on shares of Pinterest in a report on Thursday, September 12th. Rosenblatt Securities decreased their price objective on Pinterest from $48.00 to $46.00 and set a “buy” rating for the company in a report on Friday, November 8th. Oppenheimer decreased their price objective on Pinterest from $45.00 to $40.00 and set an “outperform” rating for the company in a report on Friday, November 8th. Finally, Evercore ISI decreased their price objective on Pinterest from $50.00 to $48.00 and set an “outperform” rating for the company in a report on Wednesday, July 31st. Seven investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.00.

Pinterest Company Profile

Pinterest, Inc operates as a visual search and discovery platform in the United States and internationally. Its platform allows people to find ideas, such as recipes, home and style inspiration, and others; and to search, save, and shop the ideas. The company was formerly known as Cold Brew Labs Inc and changed its name to Pinterest, Inc in April 2012.