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

Pinterest, Inc. (NYSE:PINS) Director Gokul Rajaram sold 1,050 shares of the firm’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $23.03, for a total transaction of $24,181.50. Following the transaction, the director directly owned 37,246 shares in the company, valued at $857,775.38. This represents a 2.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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

NYSE:PINS opened at $23.38 on Thursday. The company has a market cap of $13.10 billion, a price-to-earnings ratio of 68.76, a PEG ratio of 1.24 and a beta of 0.90. Pinterest, Inc. has a fifty-two week low of $13.84 and a fifty-two week high of $38.57. The company has a debt-to-equity ratio of 0.34, a quick ratio of 3.81 and a current ratio of 3.81. The stock has a fifty day moving average price of $22.44 and a 200-day moving average price of $20.38.

Pinterest (NYSE:PINS) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.07. Pinterest had a net margin of 5.46% and a return on equity of 7.49%. The business had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.15 billion. During the same quarter in the prior year, the business posted $0.33 earnings per share. Pinterest’s revenue was up 18.2% compared to the same quarter last year. As a group, equities analysts anticipate that Pinterest, Inc. will post 0.62 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Norges Bank bought a new stake in Pinterest in the fourth quarter valued at $357,945,000. State Street Corp boosted its holdings in Pinterest by 52.6% in 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 in the last quarter. Victory Capital Management Inc. grew its stake in Pinterest by 30.5% in the fourth quarter. Victory Capital Management Inc. now owns 26,808,870 shares of the company’s stock valued at $694,082,000 after acquiring an additional 6,258,628 shares during the period. Renaissance Technologies LLC increased its holdings in shares of Pinterest by 271.1% during the first quarter. Renaissance Technologies LLC now owns 5,988,631 shares of the company’s stock valued at $109,831,000 after acquiring an additional 4,375,000 shares in the last quarter. Finally, Davis Selected Advisers lifted its holdings in shares of Pinterest by 49.5% in the 4th quarter. Davis Selected Advisers now owns 11,801,983 shares of the company’s stock worth $305,554,000 after purchasing an additional 3,909,926 shares in the last quarter. 88.81% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on PINS shares. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $24.00 price objective on shares of Pinterest in a report on Tuesday, May 5th. Mizuho lifted their price target on Pinterest from $31.00 to $32.00 and gave the company an “outperform” rating in a research note on Wednesday, August 5th. Cantor Fitzgerald restated an “overweight” rating and set a $30.00 price target on shares of Pinterest in a report on Wednesday, August 5th. Barclays raised their price objective on shares of Pinterest from $27.00 to $31.00 and gave the company an “equal weight” rating in a report on Wednesday, August 5th. Finally, Wall Street Zen upgraded shares of Pinterest from a “hold” rating to a “buy” rating in a research report on Sunday, August 9th. Seventeen analysts have rated the stock with a Buy rating and nineteen have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $27.90.

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.