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

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 sale, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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 value 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 value of $34,189.50.

Pinterest Stock Up 0.3 %

Shares of Pinterest stock opened at $30.50 on Friday. The business has a 50-day moving average price of $30.41 and a 200 day moving average price of $32.41. Pinterest, Inc. has a fifty-two week low of $27.00 and a fifty-two week high of $45.19. The firm has a market cap 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.

Institutional Investors Weigh In On Pinterest

A number of 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 third quarter worth $153,829,000. Southpoint Capital Advisors LP acquired a new position in shares of Pinterest in the 3rd quarter valued at about $123,006,000. Ontario Teachers Pension Plan Board grew its position in shares of Pinterest by 51.5% during the 3rd quarter. Ontario Teachers Pension Plan Board now owns 8,812,117 shares of the company’s stock valued at $285,248,000 after buying an additional 2,996,750 shares during the last quarter. 1832 Asset Management L.P. acquired a new stake in Pinterest during the second quarter worth about $98,655,000. Finally, Nordea Investment Management AB boosted its stake in Pinterest by 122.1% in the fourth quarter. Nordea Investment Management AB now owns 3,807,269 shares of the company’s stock valued at $111,515,000 after acquiring an additional 2,093,248 shares during the period. 88.81% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on PINS shares. Cantor Fitzgerald reissued an “overweight” rating and set a $41.00 target price on shares of Pinterest in a research report on Monday, October 7th. JPMorgan Chase & Co. cut their target price on shares of Pinterest from $38.00 to $35.00 and set a “neutral” rating on the stock in a research note on Friday, November 8th. Wedbush raised shares of Pinterest from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 11th. Robert W. Baird cut their price objective on Pinterest from $41.00 to $36.00 and set an “outperform” rating on the stock in a research report on Friday, November 8th. Finally, Monness Crespi & Hardt raised Pinterest from a “neutral” rating to a “buy” rating and set a $40.00 target price for the company in a research report on Friday, January 10th. Nine research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Pinterest has an average rating of “Moderate Buy” and an average target price of $40.70.

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.