Pinterest (NYSE:PINS) Director 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, August 19th. The shares were sold at an average price of $23.03, for a total value of $24,181.50. Following the completion of the sale, the director directly owned 37,246 shares of the company’s stock, valued at approximately $857,775.38. This trade represents a 2.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 Performance

PINS traded up $0.32 during trading on Wednesday, hitting $23.38. 7,604,984 shares of the stock were exchanged, compared to its average volume of 11,705,624. The firm has a market capitalization of $13.10 billion, a P/E ratio of 68.76, a PEG ratio of 1.24 and a beta of 0.90. Pinterest, Inc. has a 1-year low of $13.84 and a 1-year high of $38.57. The stock has a fifty day moving average price of $22.44 and a two-hundred day moving average price of $20.38. 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 (NYSE:PINS) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.07. The company had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.15 billion. Pinterest had a return on equity of 7.49% and a net margin of 5.46%.The firm’s revenue for the quarter was up 18.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.33 earnings per share. As a group, sell-side analysts predict that Pinterest, Inc. will post 0.62 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts recently commented on PINS shares. Rothschild & Co Redburn set a $23.00 price target on shares of Pinterest and gave the company a “neutral” rating in a research report on Monday, April 27th. Benchmark lowered their price objective on shares of Pinterest from $34.00 to $33.00 and set a “buy” rating on the stock in a research report on Thursday, April 30th. Wells Fargo & Company lifted their price objective on shares of Pinterest from $30.00 to $31.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. Citigroup upped their target price on shares of Pinterest from $25.00 to $27.00 and gave the company a “neutral” rating in a report on Wednesday, August 5th. Finally, JPMorgan Chase & Co. increased their target price on shares of Pinterest from $20.00 to $25.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 5th. Seventeen analysts have rated the stock with a Buy rating and nineteen have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $27.90.

Hedge Funds Weigh In On Pinterest

A number of hedge funds and other institutional investors have recently bought and sold shares of PINS. Vanguard Group Inc. raised its position in Pinterest by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 62,056,069 shares of the company’s stock worth $1,606,632,000 after buying an additional 1,069,646 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Pinterest by 15.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 27,809,693 shares of the company’s stock valued at $719,994,000 after acquiring an additional 3,669,476 shares in the last quarter. Victory Capital Management Inc. increased its stake in shares of Pinterest by 30.5% during the fourth quarter. Victory Capital Management Inc. now owns 26,808,870 shares of the company’s stock worth $694,082,000 after acquiring an additional 6,258,628 shares during the period. State Street Corp increased its stake in shares of Pinterest by 52.6% during the fourth quarter. State Street Corp now owns 21,492,169 shares of the company’s stock worth $556,432,000 after acquiring an additional 7,412,213 shares during the period. Finally, Ameriprise Financial Inc. raised its holdings in Pinterest by 15.0% during the second quarter. Ameriprise Financial Inc. now owns 17,818,418 shares of the company’s stock worth $638,969,000 after purchasing an additional 2,319,964 shares in the last quarter. 88.81% of the stock is currently owned by hedge funds and other institutional investors.

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.