Pinterest, Inc. (NYSE:PINS) Director Sells $64,479.56 in Stock

Pinterest, Inc. (NYSE:PINS) Director Gokul Rajaram sold 1,934 shares of the firm’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $33.34, for a total transaction of $64,479.56. Following the transaction, the director now directly owns 31,646 shares of the company’s stock, valued at approximately $1,055,077.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Wednesday, March 20th, Gokul Rajaram sold 1,934 shares of Pinterest stock. The stock was sold at an average price of $34.10, for a total transaction of $65,949.40.

Pinterest Price Performance

PINS opened at $32.40 on Friday. The company’s 50-day moving average is $34.79 and its 200 day moving average is $33.97. Pinterest, Inc. has a fifty-two week low of $20.60 and a fifty-two week high of $41.60.

Pinterest (NYSE:PINS) last released its earnings results on Thursday, February 8th. The company reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.04. The firm had revenue of $981.26 million for the quarter, compared to analysts’ expectations of $988.62 million. Pinterest had a negative net margin of 1.17% and a positive return on equity of 3.83%. On average, equities research analysts anticipate that Pinterest, Inc. will post 0.36 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PINS. Acadian Asset Management LLC boosted its stake in Pinterest by 21.9% in the first quarter. Acadian Asset Management LLC now owns 13,589 shares of the company’s stock valued at $334,000 after acquiring an additional 2,437 shares during the last quarter. MetLife Investment Management LLC bought a new stake in shares of Pinterest in the first quarter valued at approximately $906,000. Raymond James Trust N.A. raised its position in shares of Pinterest by 29.0% in the first quarter. Raymond James Trust N.A. now owns 11,342 shares of the company’s stock valued at $279,000 after purchasing an additional 2,550 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Pinterest by 11.6% in the first quarter. Dimensional Fund Advisors LP now owns 492,299 shares of the company’s stock valued at $12,118,000 after purchasing an additional 51,318 shares during the period. Finally, Sei Investments Co. raised its position in shares of Pinterest by 261.5% in the first quarter. Sei Investments Co. now owns 273,925 shares of the company’s stock valued at $6,691,000 after purchasing an additional 198,153 shares during the period. 88.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on PINS shares. Piper Sandler reiterated an “overweight” rating and set a $48.00 price objective on shares of Pinterest in a research report on Tuesday, March 26th. Stifel Nicolaus increased their price objective on shares of Pinterest from $26.00 to $32.00 and gave the stock a “buy” rating in a research report on Tuesday, January 9th. Royal Bank of Canada increased their price objective on shares of Pinterest from $46.00 to $48.00 and gave the stock an “outperform” rating in a research report on Friday, February 9th. JPMorgan Chase & Co. increased their price objective on shares of Pinterest from $34.00 to $38.00 and gave the stock a “neutral” rating in a research report on Friday, February 9th. Finally, BMO Capital Markets started coverage on shares of Pinterest in a research report on Tuesday, January 9th. They set an “outperform” rating and a $45.00 price objective for the company. Seven equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat.com, Pinterest presently has a consensus rating of “Moderate Buy” and a consensus target price of $37.97.

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.