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

Pinterest, Inc. (NYSE:PINS) Director Gokul Rajaram sold 1,050 shares of the company’s stock in a transaction dated Wednesday, October 21st. The shares were sold at an average price of $22.84, for a total transaction of $23,982.00. Following the sale, the director directly owned 35,146 shares of the company’s stock, valued at $802,734.64. This represents a 2.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible 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 Monday, October 5th, Gokul Rajaram sold 1,050 shares of Pinterest stock. The stock was sold at an average price of $20.00, for a total transaction of $21,000.00.
• On Wednesday, August 19th, Gokul Rajaram sold 1,050 shares of Pinterest stock. The stock was sold at an average price of $23.03, for a total transaction of $24,181.50.

Pinterest Trading Down 0.0%

Shares of Pinterest stock traded down $0.00 during trading on Wednesday, hitting $22.98. The stock had a trading volume of 11,949,554 shares, compared to its average volume of 16,481,346. The stock has a 50 day simple moving average of $20.90 and a 200 day simple moving average of $21.02. The company has a market capitalization of $12.87 billion, a PE ratio of 67.58, a P/E/G ratio of 1.46 and a beta of 0.90. The company has a quick ratio of 3.81, a current ratio of 3.81 and a debt-to-equity ratio of 0.34. Pinterest, Inc. has a 1 year low of $13.84 and a 1 year high of $35.42.

Pinterest (NYSE:PINS) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $0.43 EPS for the quarter, beating the consensus estimate 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 net margin of 5.46% and a return on equity of 7.49%. The firm’s quarterly revenue was up 18.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.33 EPS. On average, research analysts expect that Pinterest, Inc. will post 0.58 EPS for the current fiscal year.

Institutional Investors Weigh In On Pinterest

A number of institutional investors have recently modified their holdings of the stock. Renaissance Technologies LLC increased its stake in shares of Pinterest by 271.1% in the first quarter. Renaissance Technologies LLC now owns 5,988,631 shares of the company’s stock worth $109,831,000 after acquiring an additional 4,375,000 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Pinterest by 300.4% during the third quarter. Assenagon Asset Management S.A. now owns 4,398,316 shares of the company’s stock worth $83,084,000 after acquiring an additional 3,299,884 shares in the last quarter. Amundi raised its holdings in shares of Pinterest by 38.3% during the first quarter. Amundi now owns 3,200,829 shares of the company’s stock worth $58,703,000 after acquiring an additional 885,927 shares in the last quarter. Bank of America Corp DE boosted its position in Pinterest by 15.4% during the first quarter. Bank of America Corp DE now owns 5,848,116 shares of the company’s stock valued at $107,254,000 after purchasing an additional 779,998 shares during the last quarter. Finally, Boothe Investment Group Inc. acquired a new stake in Pinterest during the first quarter valued at $11,856,000. Institutional investors and hedge funds own 88.81% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on PINS. Phillip Securities upgraded Pinterest to a “strong-buy” rating in a report on Monday. Guggenheim upped their price target on Pinterest from $24.00 to $26.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. Susquehanna reissued a “positive” rating on shares of Pinterest in a research note on Wednesday, August 5th. Mizuho increased their price objective on Pinterest from $31.00 to $32.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 5th. Finally, BMO Capital Markets raised their price objective on Pinterest from $30.00 to $34.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, eighteen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $27.90.

About Pinterest

Pinterest, Inc (NYSE: PINS) operates a visual discovery platform that helps people find ideas and inspiration for activities such as home improvement, cooking, fashion, travel and event planning. Users can discover, save and organize images and videos—known as Pins—on personalized boards and explore recommendations based on their interests.

The company also provides tools for businesses and creators to showcase products and content on the platform. Its advertising business includes promoted Pins and other advertising formats designed to help marketers reach users while they are discovering ideas, researching products and planning purchases.