Pinterest, Inc. (NYSE:PINS) Director Gokul Rajaram Sells 1,150 Shares of Stock

Pinterest, Inc. (NYSE:PINS) Director Gokul Rajaram sold 1,150 shares of Pinterest stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $30.98, for a total transaction of $35,627.00. Following the sale, the director now owns 31,386 shares in the company, valued at approximately $972,338.28. This represents a 3.53 % 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 this hyperlink.

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

• On Wednesday, November 20th, Gokul Rajaram sold 1,150 shares of Pinterest stock. The shares were sold at an average price of $29.73, for a total transaction of $34,189.50.
• On Wednesday, October 16th, Gokul Rajaram sold 1,150 shares of Pinterest stock. The stock was sold at an average price of $33.52, for a total transaction of $38,548.00.

Pinterest Price Performance

Shares of NYSE PINS opened at $29.61 on Friday. The company has a 50-day moving average price of $31.40 and a 200-day moving average price of $34.40. The stock has a market capitalization of $20.01 billion, a P/E ratio of 98.70, a P/E/G ratio of 2.17 and a beta of 1.02. Pinterest, Inc. has a 1 year low of $27.00 and a 1 year high of $45.19.

Analyst Upgrades and Downgrades

Several research analysts have commented on PINS shares. Piper Sandler downgraded Pinterest from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $41.00 to $36.00 in a report on Tuesday, December 10th. Cantor Fitzgerald restated an “overweight” rating and set a $41.00 price objective on shares of Pinterest in a research report on Monday, October 7th. Robert W. Baird reduced their target price on Pinterest from $41.00 to $36.00 and set an “outperform” rating on the stock in a report on Friday, November 8th. Oppenheimer lowered their price target on shares of Pinterest from $45.00 to $40.00 and set an “outperform” rating for the company in a report on Friday, November 8th. Finally, Rosenblatt Securities reduced their price objective on shares of Pinterest from $48.00 to $46.00 and set a “buy” rating on the stock in a research note on Friday, November 8th. Eight investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $41.46.

Hedge Funds Weigh In On Pinterest

Hedge funds have recently added to or reduced their stakes in the stock. Sequoia Financial Advisors LLC raised its stake in shares of Pinterest by 5.2% in the third quarter. Sequoia Financial Advisors LLC now owns 6,329 shares of the company’s stock worth $205,000 after purchasing an additional 313 shares during the last quarter. Raymond James Trust N.A. raised its position in Pinterest by 1.1% in the 2nd quarter. Raymond James Trust N.A. now owns 30,012 shares of the company’s stock valued at $1,323,000 after buying an additional 319 shares during the last quarter. Hantz Financial Services Inc. lifted its stake in Pinterest by 3.7% during the 3rd quarter. Hantz Financial Services Inc. now owns 9,380 shares of the company’s stock valued at $304,000 after acquiring an additional 339 shares in the last quarter. Leibman Financial Services Inc. boosted its holdings in Pinterest by 1.2% during the 3rd quarter. Leibman Financial Services Inc. now owns 31,758 shares of the company’s stock worth $1,028,000 after acquiring an additional 368 shares during the last quarter. Finally, Toronto Dominion Bank grew its stake in shares of Pinterest by 0.7% in the 2nd quarter. Toronto Dominion Bank now owns 56,961 shares of the company’s stock worth $2,510,000 after acquiring an additional 372 shares in the last quarter. Institutional investors and hedge funds 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.