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

Key Points

• Pinterest director Gokul Rajaram sold 1,050 shares for $24,181.50 under a pre-arranged Rule 10b5-1 trading plan, reducing his holdings by 2.74% to 37,246 shares.
• Pinterest shares traded up 1.4% to $23.38, while the company’s latest quarterly results exceeded expectations: EPS was $0.43 versus a $0.36 estimate, and revenue rose 18.2% year over year to $1.18 billion.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $27.90; institutional investors own 88.81% of Pinterest’s stock.

Pinterest, Inc. (NYSE:PINS - Get Free Report) Director Gokul Rajaram sold 1,050 shares of Pinterest stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $23.03, for a total transaction of $24,181.50. Following the sale, the director owned 37,246 shares of the company's stock, valued at approximately $857,775.38. This represents a 2.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, 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 transaction of $21,000.00.

Pinterest Trading Up 1.4%

Shares of NYSE:PINS traded up $0.32 during mid-day trading on Wednesday, reaching $23.38. 7,604,984 shares of the company were exchanged, compared to its average volume of 11,705,624. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.81 and a quick ratio of 3.81. The firm has a market cap of $13.10 billion, a price-to-earnings ratio of 68.76, a P/E/G ratio of 1.24 and a beta of 0.90. The firm's 50-day simple moving average is $22.44 and its 200 day simple moving average is $20.38. Pinterest, Inc. has a 1 year low of $13.84 and a 1 year high of $38.57.

Pinterest (NYSE:PINS - Get Free Report) last posted its earnings results on Tuesday, August 4th. The company reported $0.43 earnings per share for the quarter, beating 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 firm had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter last year, the firm earned $0.33 EPS. The firm's revenue for the quarter was up 18.2% on a year-over-year basis. Equities research analysts forecast that Pinterest, Inc. will post 0.62 EPS for the current year.

Hedge Funds Weigh In On Pinterest

Several large investors have recently bought and sold shares of the business. Elevated Capital Advisors LLC purchased a new position in shares of Pinterest in the 4th quarter valued at $26,000. Caitong International Asset Management Co. Ltd raised its stake in Pinterest by 2,017.3% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,101 shares of the company's stock worth $29,000 after acquiring an additional 1,049 shares in the last quarter. Addison Advisors LLC lifted its position in Pinterest by 727.3% in the fourth quarter. Addison Advisors LLC now owns 1,365 shares of the company's stock valued at $35,000 after acquiring an additional 1,200 shares during the last quarter. Garner Asset Management Corp purchased a new stake in Pinterest in the fourth quarter valued at $36,000. Finally, MidFirst Bank acquired a new position in Pinterest in the fourth quarter valued at $44,000. Hedge funds and other institutional investors own 88.81% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on PINS shares. Evercore increased their target price on Pinterest from $27.00 to $29.00 and gave the stock an "in-line" rating in a research note on Wednesday, August 5th. Susquehanna reaffirmed a "positive" rating on shares of Pinterest in a research report on Wednesday, August 5th. Piper Sandler reiterated a "neutral" rating and set a $26.00 price target (up from $21.00) on shares of Pinterest in a research note on Tuesday, May 5th. Morgan Stanley increased their price target on shares of Pinterest from $30.00 to $32.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 5th. Finally, 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 research note on Wednesday, August 5th. Seventeen investment analysts have rated the stock with a Buy rating and nineteen have given a Hold rating to the company. According to MarketBeat, Pinterest has a consensus rating of "Hold" and a consensus 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.

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