Gokul Rajaram Sells 1,050 Shares of Pinterest (NYSE:PINS) Stock

Pinterest, Inc. (NYSE:PINS) Director Gokul Rajaram sold 1,050 shares of the stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $23.03, for a total value of $24,181.50. Following the sale, the director directly owned 37,246 shares in the company, valued at $857,775.38. This represents a 2.74% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Wednesday, May 27th, Gokul Rajaram sold 1,050 shares of Pinterest stock. The stock was sold at an average price of $20.00, for a total value of $21,000.00.

Pinterest Stock Down 0.9%

Shares of NYSE PINS opened at $23.18 on Friday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 3.81 and a current ratio of 3.81. Pinterest, Inc. has a 52 week low of $13.84 and a 52 week high of $38.57. The stock has a market capitalization of $12.98 billion, a P/E ratio of 68.18, a PEG ratio of 1.25 and a beta of 0.90. The stock’s fifty day moving average is $22.48 and its 200 day moving average is $20.39.

Pinterest (NYSE:PINS) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.07. The business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.15 billion. Pinterest had a return on equity of 7.49% and a net margin of 5.46%.Pinterest’s revenue for the quarter was up 18.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.33 earnings per share. Sell-side analysts forecast that Pinterest, Inc. will post 0.62 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

PINS has been the subject of a number of recent analyst reports. Wells Fargo & Company upped their price target on shares of Pinterest from $30.00 to $31.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. Piper Sandler reissued a “neutral” rating and issued a $26.00 price objective (up from $21.00) on shares of Pinterest in a research note on Tuesday, May 5th. Guggenheim boosted their price objective on shares of Pinterest from $24.00 to $26.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. Weiss Ratings upgraded Pinterest from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, July 28th. Finally, Rosenblatt Securities raised their target price on Pinterest from $24.00 to $25.00 and gave the company a “neutral” rating in a report on Wednesday, August 5th. Seventeen research analysts have rated the stock with a Buy rating and nineteen have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $27.90.

Institutional Investors Weigh In On Pinterest

Hedge funds have recently made changes to their positions in the stock. Elevated Capital Advisors LLC acquired a new position in Pinterest during the 4th quarter worth approximately $26,000. Caitong International Asset Management Co. Ltd boosted its position in Pinterest by 2,017.3% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,101 shares of the company’s stock valued at $29,000 after buying an additional 1,049 shares in the last quarter. Addison Advisors LLC grew its stake in shares of Pinterest by 727.3% during the fourth quarter. Addison Advisors LLC now owns 1,365 shares of the company’s stock worth $35,000 after buying an additional 1,200 shares during the last quarter. Garner Asset Management Corp bought a new stake in shares of Pinterest during the fourth quarter worth $36,000. Finally, Summit Securities Group LLC acquired a new position in shares of Pinterest during the first quarter worth $43,000. 88.81% of the stock is currently owned by institutional investors and hedge funds.

About Pinterest

Pinterest, Inc operates a visual discovery platform that helps users find inspiration and ideas for projects ranging from home design and fashion to cooking and travel. Users create and curate “Pins” — images or videos linked to content — organized on thematic boards. The service is available through its website and mobile applications and emphasizes personalized recommendations and visual search to surface relevant content based on user interests.

The company’s primary revenue model is advertising, offering promoted content formats that integrate into user feeds and search results.