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

Pinterest, Inc. (NYSE:PINS) Director Gokul Rajaram sold 1,150 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $30.98, for a total transaction of $35,627.00. Following the transaction, the director now owns 31,386 shares of the company’s stock, valued at $972,338.28. This trade represents a 3.53 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

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 shares were sold at an average price of $33.52, for a total value of $38,548.00.

Pinterest Price Performance

Shares of NYSE PINS opened at $29.49 on Friday. The company has a market capitalization of $19.93 billion, a price-to-earnings ratio of 98.30, a PEG 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. The business has a 50-day moving average of $31.31 and a 200-day moving average of $34.32.

Analysts Set New Price Targets

A number of research firms have recently weighed in on PINS. UBS Group cut their price target on Pinterest from $52.00 to $46.00 and set a “buy” rating for the company in a report on Friday, November 8th. KeyCorp cut their target price on shares of Pinterest from $45.00 to $39.00 and set an “overweight” rating for the company in a research note on Monday, November 11th. Piper Sandler cut shares of Pinterest from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $41.00 to $36.00 in a research note on Tuesday, December 10th. Raymond James cut their price objective on shares of Pinterest from $40.00 to $34.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. Finally, Oppenheimer decreased their target price on shares of Pinterest from $45.00 to $40.00 and set an “outperform” rating on the stock in a research report on Friday, November 8th. Eight equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $41.46.

Hedge Funds Weigh In On Pinterest

Institutional investors and hedge funds have recently bought and sold shares of the stock. Point72 Asset Management L.P. acquired a new position in shares of Pinterest during the third quarter worth $153,829,000. Southpoint Capital Advisors LP acquired a new stake in Pinterest during the 3rd quarter valued at $123,006,000. Ontario Teachers Pension Plan Board increased its stake in Pinterest by 51.5% during the 3rd quarter. Ontario Teachers Pension Plan Board now owns 8,812,117 shares of the company’s stock worth $285,248,000 after buying an additional 2,996,750 shares during the period. 1832 Asset Management L.P. acquired a new position in Pinterest in the 2nd quarter worth $98,655,000. Finally, Acadian Asset Management LLC boosted its position in Pinterest by 31.6% in the 2nd quarter. Acadian Asset Management LLC now owns 5,645,845 shares of the company’s stock valued at $248,793,000 after buying an additional 1,356,459 shares during the last quarter. 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.