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

Pinterest, Inc. (NYSE:PINS) Director Gokul Rajaram sold 1,150 shares of the company’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $30.43, for a total value of $34,994.50. Following the transaction, the director now owns 30,236 shares of the company’s stock, valued at approximately $920,081.48. The trade was a 3.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Wednesday, December 18th, Gokul Rajaram sold 1,150 shares of Pinterest stock. The shares were sold at an average price of $30.98, for a total transaction of $35,627.00.
• On Wednesday, November 20th, Gokul Rajaram sold 1,150 shares of Pinterest stock. The stock was sold at an average price of $29.73, for a total transaction of $34,189.50.

Pinterest Trading Up 0.3 %

Shares of PINS opened at $30.50 on Friday. 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 $20.61 billion, a P/E ratio of 101.65, a P/E/G ratio of 1.52 and a beta of 1.04. The business’s 50-day moving average price is $30.41 and its 200 day moving average price is $32.48.

Analyst Upgrades and Downgrades

PINS has been the topic of several analyst reports. Piper Sandler lowered shares of Pinterest from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $41.00 to $36.00 in a research note on Tuesday, December 10th. JPMorgan Chase & Co. lowered their target price on Pinterest from $38.00 to $35.00 and set a “neutral” rating on the stock in a research report on Friday, November 8th. Benchmark reiterated a “hold” rating on shares of Pinterest in a research report on Friday, November 8th. Deutsche Bank Aktiengesellschaft assumed coverage on Pinterest in a research note on Monday, September 23rd. They issued a “buy” rating and a $43.00 price target for the company. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $41.00 price objective on shares of Pinterest in a research note on Monday, October 7th. Nine research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $40.86.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Point72 Asset Management L.P. acquired a new position in Pinterest in the 3rd quarter worth approximately $153,829,000. Southpoint Capital Advisors LP purchased a new stake in shares of Pinterest in the third quarter valued at $123,006,000. Ontario Teachers Pension Plan Board boosted its position in shares of Pinterest by 51.5% in the third 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. purchased a new position in shares of Pinterest during the second quarter valued at $98,655,000. Finally, Nordea Investment Management AB raised its position in Pinterest by 122.1% during the fourth quarter. Nordea Investment Management AB now owns 3,807,269 shares of the company’s stock valued at $111,515,000 after buying an additional 2,093,248 shares during the period. 88.81% of the stock is owned by hedge funds and other institutional investors.

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.