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 business’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $30.43, for a total transaction of $34,994.50. Following the completion of the transaction, the director now directly owns 30,236 shares of the company’s stock, valued at approximately $920,081.48. This represents a 3.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at 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 value of $34,189.50.

Pinterest Stock Down 0.8 %

Shares of NYSE:PINS traded down $0.25 during midday trading on Thursday, reaching $30.39. 6,911,772 shares of the company were exchanged, compared to its average volume of 9,640,376. The firm has a market cap of $20.54 billion, a PE ratio of 101.29, a P/E/G ratio of 1.52 and a beta of 1.04. Pinterest, Inc. has a fifty-two week low of $27.00 and a fifty-two week high of $45.19. The stock has a fifty day simple moving average of $30.46 and a two-hundred day simple moving average of $32.58.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Oppenheimer cut their price target on Pinterest from $45.00 to $40.00 and set an “outperform” rating on the stock in a research note on Friday, November 8th. Wells Fargo & Company cut their target price on shares of Pinterest from $40.00 to $39.00 and set an “overweight” rating on the stock in a research report on Monday. Raymond James lowered their price target on shares of Pinterest from $40.00 to $34.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. TD Cowen assumed coverage on shares of Pinterest in a report on Tuesday, November 26th. They issued a “buy” rating and a $38.00 price objective on the stock. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $32.00 target price (down previously from $40.00) on shares of Pinterest in a report on Monday. Nine analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $40.86.

Hedge Funds Weigh In On Pinterest

A number of large investors have recently added to or reduced their stakes in PINS. State Street Corp boosted its position in shares of Pinterest by 1.2% during the third quarter. State Street Corp now owns 12,773,652 shares of the company’s stock worth $413,483,000 after buying an additional 156,748 shares during the period. Geode Capital Management LLC lifted its stake in Pinterest by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 9,466,585 shares of the company’s stock valued at $305,710,000 after acquiring an additional 76,920 shares in the last quarter. Ontario Teachers Pension Plan Board boosted its position in Pinterest by 51.5% during the 3rd quarter. Ontario Teachers Pension Plan Board now owns 8,812,117 shares of the company’s stock worth $285,248,000 after acquiring an additional 2,996,750 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Pinterest by 8.4% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,944,489 shares of the company’s stock worth $192,423,000 after acquiring an additional 460,708 shares in the last quarter. Finally, Point72 Asset Management L.P. acquired a new stake in shares of Pinterest in the third quarter valued at approximately $153,829,000. Institutional investors own 88.81% of the company’s stock.

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.