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 that occurred on Wednesday, November 20th. The stock was sold at an average price of $29.73, for a total value of $34,189.50. Following the completion of the transaction, the director now owns 32,536 shares of the company’s stock, valued at approximately $967,295.28. This represents a 3.41 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

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

• 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 Stock Performance

Pinterest stock opened at $30.01 on Friday. The firm has a market capitalization of $20.28 billion, a P/E ratio of 100.04, a P/E/G ratio of 2.10 and a beta of 1.02. The company has a 50-day simple moving average of $31.71 and a 200-day simple moving average of $35.93. Pinterest, Inc. has a one year low of $27.00 and a one year high of $45.19.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Rosenblatt Securities cut their price objective on shares of Pinterest from $48.00 to $46.00 and set a “buy” rating on the stock in a report on Friday, November 8th. Benchmark reiterated a “hold” rating on shares of Pinterest in a research note on Friday, November 8th. Susquehanna reduced their price target on Pinterest from $50.00 to $45.00 and set a “positive” rating for the company in a report on Wednesday, July 31st. Royal Bank of Canada restated an “outperform” rating and set a $48.00 price objective on shares of Pinterest in a report on Thursday, September 12th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $41.00 target price (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-one have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $42.00.

Institutional Investors Weigh In On Pinterest

Several large investors have recently made changes to their positions in the company. Kornitzer Capital Management Inc. KS lifted its holdings in Pinterest by 20.3% in the third quarter. Kornitzer Capital Management Inc. KS now owns 404,296 shares of the company’s stock worth $13,087,000 after purchasing an additional 68,096 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of Pinterest by 8.4% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,944,489 shares of the company’s stock valued at $192,423,000 after acquiring an additional 460,708 shares in the last quarter. GDS Wealth Management acquired a new position in shares of Pinterest during the third quarter valued at approximately $2,517,000. Ontario Teachers Pension Plan Board raised its holdings in Pinterest by 51.5% during the third quarter. Ontario Teachers Pension Plan Board now owns 8,812,117 shares of the company’s stock worth $285,248,000 after purchasing an additional 2,996,750 shares in the last quarter. Finally, TimesSquare Capital Management LLC lifted its position in Pinterest by 16.2% in the third quarter. TimesSquare Capital Management LLC now owns 1,963,645 shares of the company’s stock worth $63,563,000 after purchasing an additional 273,855 shares during the period. 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.