Wanjiku Juanita Walcott Sells 11,862 Shares of Pinterest, Inc. (NYSE:PINS) Stock

Pinterest, Inc. (NYSE:PINS) insider Wanjiku Juanita Walcott sold 11,862 shares of the firm’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $30.82, for a total value of $365,586.84. Following the completion of the transaction, the insider now owns 246,921 shares in the company, valued at approximately $7,610,105.22. This trade represents a 4.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Pinterest Stock Performance

Shares of Pinterest stock opened at $30.32 on Friday. Pinterest, Inc. has a 12 month low of $27.00 and a 12 month high of $45.19. The stock has a 50 day moving average of $31.80 and a 200 day moving average of $35.39. The firm has a market cap of $20.49 billion, a PE ratio of 101.07, a PEG ratio of 2.17 and a beta of 1.02.

Analyst Upgrades and Downgrades

PINS has been the topic of several research reports. Piper Sandler reissued an “overweight” rating and issued a $41.00 target price (down from $45.00) on shares of Pinterest in a research report on Friday, November 8th. Rosenblatt Securities dropped their price objective on shares of Pinterest from $48.00 to $46.00 and set a “buy” rating on the stock in a report on Friday, November 8th. Roth Mkm reduced their target price on shares of Pinterest from $39.00 to $33.00 and set a “neutral” rating for the company in a report on Friday, November 8th. Oppenheimer dropped their price target on shares of Pinterest from $45.00 to $40.00 and set an “outperform” rating on the stock in a research note on Friday, November 8th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $41.00 price objective on shares of Pinterest in a research note on Monday, October 7th. Seven investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $41.65.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Brown Shipley& Co Ltd bought a new position in Pinterest during the second quarter valued at $25,000. Wellington Shields Capital Management LLC purchased a new position in Pinterest in the second quarter worth about $26,000. Hexagon Capital Partners LLC increased its stake in Pinterest by 157.7% during the second quarter. Hexagon Capital Partners LLC now owns 750 shares of the company’s stock worth $33,000 after acquiring an additional 459 shares during the last quarter. GAMMA Investing LLC raised its position in Pinterest by 113.4% during the second quarter. GAMMA Investing LLC now owns 762 shares of the company’s stock valued at $34,000 after purchasing an additional 405 shares during the period. Finally, Rothschild Investment LLC bought a new stake in shares of Pinterest in the 2nd quarter valued at approximately $35,000. 88.81% of the stock is owned by hedge funds and other institutional investors.

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.