Insider Selling: Pinterest, Inc. (NYSE:PINS) Insider Sells 11,862 Shares of Stock

Pinterest, Inc. (NYSE:PINS) insider Wanjiku Juanita Walcott sold 11,862 shares of the stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $30.82, for a total transaction of $365,586.84. Following the completion of the sale, the insider now directly owns 246,921 shares in the company, valued at $7,610,105.22. This trade represents a 4.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Pinterest Price Performance

Pinterest stock opened at $30.32 on Friday. The business has a fifty day moving average price of $31.80 and a 200-day moving average price of $35.39. Pinterest, Inc. has a 1-year low of $27.00 and a 1-year high of $45.19. The stock has a market capitalization of $20.49 billion, a price-to-earnings ratio of 101.07, a PEG ratio of 2.17 and a beta of 1.02.

Analysts Set New Price Targets

PINS has been the topic of a number of analyst reports. KeyCorp cut their target price on Pinterest from $45.00 to $39.00 and set an “overweight” rating on the stock in a research note on Monday, November 11th. Roth Mkm reduced their target price on Pinterest from $39.00 to $33.00 and set a “neutral” rating on the stock in a research note on Friday, November 8th. JPMorgan Chase & Co. lowered their target price on shares of Pinterest from $38.00 to $35.00 and set a “neutral” rating for the company in a research note on Friday, November 8th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $48.00 price target on shares of Pinterest in a research note on Thursday, September 12th. Finally, Piper Sandler reissued an “overweight” rating and issued a $41.00 price objective (down from $45.00) on shares of Pinterest in a research report on Friday, November 8th. Seven analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $41.65.

Institutional Investors Weigh In On Pinterest

A number of large investors have recently modified their holdings of the business. Massachusetts Financial Services Co. MA grew its position in Pinterest by 4.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 844,187 shares of the company’s stock worth $27,326,000 after purchasing an additional 32,539 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Pinterest by 2.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,252,996 shares of the company’s stock valued at $137,669,000 after buying an additional 87,041 shares during the last quarter. Kornitzer Capital Management Inc. KS increased its position in shares of Pinterest by 20.3% in the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 404,296 shares of the company’s stock valued at $13,087,000 after acquiring an additional 68,096 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its stake in Pinterest by 8.4% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,944,489 shares of the company’s stock worth $192,423,000 after acquiring an additional 460,708 shares during the last quarter. Finally, GDS Wealth Management purchased a new stake in Pinterest during the 3rd quarter valued at about $2,517,000. Hedge funds and other institutional investors own 88.81% of the company’s stock.

About Pinterest

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.