Pinterest, Inc. (NYSE:PINS) Director Sells $64,479.56 in Stock

Pinterest, Inc. (NYSE:PINS) Director Gokul Rajaram sold 1,934 shares of the firm’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $33.34, for a total value of $64,479.56. Following the completion of the sale, the director now directly owns 31,646 shares in the company, valued at $1,055,077.64. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

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

• On Wednesday, March 20th, Gokul Rajaram sold 1,934 shares of Pinterest stock. The shares were sold at an average price of $34.10, for a total value of $65,949.40.

Pinterest Stock Up 0.6 %

PINS stock traded up $0.18 during trading on Wednesday, reaching $32.88. 4,930,230 shares of the company’s stock were exchanged, compared to its average volume of 9,574,182. Pinterest, Inc. has a 1-year low of $20.60 and a 1-year high of $41.60. The company’s fifty day moving average price is $35.19 and its 200-day moving average price is $33.95. The firm has a market cap of $22.32 billion, a PE ratio of -544.91, a P/E/G ratio of 4.47 and a beta of 0.99.

Pinterest (NYSE:PINS) last announced its quarterly earnings results on Thursday, February 8th. The company reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.04. Pinterest had a positive return on equity of 3.83% and a negative net margin of 1.17%. The company had revenue of $981.26 million during the quarter, compared to analyst estimates of $988.62 million. As a group, sell-side analysts expect that Pinterest, Inc. will post 0.36 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have issued reports on PINS. JPMorgan Chase & Co. lifted their price objective on Pinterest from $34.00 to $38.00 and gave the stock a “neutral” rating in a report on Friday, February 9th. Argus upgraded Pinterest from a “hold” rating to a “buy” rating and set a $45.00 price objective on the stock in a report on Thursday, January 18th. Stifel Nicolaus lifted their price objective on Pinterest from $26.00 to $32.00 and gave the stock a “buy” rating in a report on Tuesday, January 9th. Piper Sandler restated an “overweight” rating and set a $48.00 price objective on shares of Pinterest in a report on Tuesday, March 26th. Finally, Royal Bank of Canada lifted their price objective on Pinterest from $46.00 to $48.00 and gave the stock an “outperform” rating in a report on Friday, February 9th. Seven research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $37.97.

Institutional Trading of Pinterest

Hedge funds and other institutional investors have recently modified their holdings of the company. GAMMA Investing LLC acquired a new stake in shares of Pinterest during the fourth quarter worth $27,000. Quarry LP acquired a new stake in shares of Pinterest during the fourth quarter worth $27,000. Rakuten Securities Inc. acquired a new stake in shares of Pinterest during the fourth quarter worth $30,000. Cohanzick Management LLC acquired a new stake in shares of Pinterest during the first quarter worth $25,000. Finally, Washington Trust Advisors Inc. raised its position in shares of Pinterest by 46.0% during the fourth quarter. Washington Trust Advisors Inc. now owns 1,035 shares of the company’s stock worth $38,000 after purchasing an additional 326 shares during the period. 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.