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

Pinterest, Inc. (NYSE:PINS) Director Gokul Rajaram sold 1,150 shares of Pinterest stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $29.73, for a total transaction of $34,189.50. Following the sale, the director now directly owns 32,536 shares of the company’s stock, valued at $967,295.28. This trade represents a 3.41 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

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 value of $38,548.00.

Pinterest Price Performance

Shares of NYSE PINS traded down $0.26 during mid-day trading on Friday, hitting $29.05. The company had a trading volume of 3,614,770 shares, compared to its average volume of 9,599,891. Pinterest, Inc. has a 12 month low of $27.00 and a 12 month high of $45.19. The firm has a market cap of $19.63 billion, a P/E ratio of 97.70, a PEG ratio of 2.13 and a beta of 1.02. The business’s 50-day simple moving average is $31.71 and its 200-day simple moving average is $35.93.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. JPMorgan Chase & Co. dropped their target price on Pinterest from $38.00 to $35.00 and set a “neutral” rating on the stock in a research report on Friday, November 8th. KeyCorp lowered their price target on Pinterest from $45.00 to $39.00 and set an “overweight” rating for the company in a research note on Monday, November 11th. Oppenheimer cut their price objective on shares of Pinterest from $45.00 to $40.00 and set an “outperform” rating on the stock in a research report on Friday, November 8th. Cantor Fitzgerald reissued an “overweight” rating and issued a $41.00 target price on shares of Pinterest in a research report on Monday, October 7th. Finally, Benchmark restated a “hold” rating on shares of Pinterest in a report on Friday, November 8th. Seven investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $42.00.

Institutional Trading of Pinterest

Several institutional investors have recently modified their holdings of the company. Brown Shipley& Co Ltd acquired a new position in shares of Pinterest in the 2nd quarter valued at $25,000. Wellington Shields Capital Management LLC bought a new stake in Pinterest in the second quarter valued at about $26,000. Hexagon Capital Partners LLC increased its stake in Pinterest by 157.7% in the second quarter. Hexagon Capital Partners LLC now owns 750 shares of the company’s stock valued at $33,000 after acquiring an additional 459 shares during the period. GAMMA Investing LLC raised its position in Pinterest by 113.4% in the second quarter. GAMMA Investing LLC now owns 762 shares of the company’s stock worth $34,000 after purchasing an additional 405 shares in the last quarter. Finally, Rothschild Investment LLC bought a new position in Pinterest during the second quarter worth about $35,000. 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.