Pinterest, Inc. (NYSE:PINS) CAO Sells $118,733.60 in Stock

Pinterest, Inc. (NYSE:PINS) CAO Andrea Acosta sold 3,845 shares of the company’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $30.88, for a total value of $118,733.60. Following the sale, the chief accounting officer now directly owns 158,468 shares in the company, valued at $4,893,491.84. This represents a 2.37 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Pinterest Stock Performance

NYSE PINS opened at $30.32 on Monday. The firm’s fifty day moving average is $31.80 and its two-hundred day moving average is $35.35. Pinterest, Inc. has a one year low of $27.00 and a one year high of $45.19. The firm has a market cap of $20.49 billion, a PE ratio of 101.07, a P/E/G ratio of 2.17 and a beta of 1.02.

Analysts Set New Price Targets

Several brokerages have weighed in on PINS. Piper Sandler restated an “overweight” rating and set a $41.00 price target (down previously from $45.00) on shares of Pinterest in a report on Friday, November 8th. TD Cowen started coverage on shares of Pinterest in a report on Tuesday, November 26th. They issued a “buy” rating and a $38.00 target price on the stock. JPMorgan Chase & Co. lowered their price target on shares of Pinterest from $38.00 to $35.00 and set a “neutral” rating for the company in a report on Friday, November 8th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Pinterest in a report on Monday, September 23rd. They issued a “buy” rating and a $43.00 price objective on the stock. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $48.00 target price on shares of Pinterest in a research note on Thursday, September 12th. Seven research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $41.65.

Institutional Trading of Pinterest

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Tidal Investments LLC increased its holdings in shares of Pinterest by 38.2% in the first quarter. Tidal Investments LLC now owns 62,374 shares of the company’s stock valued at $2,163,000 after purchasing an additional 17,241 shares during the period. Comerica Bank grew its position in Pinterest by 5.4% in the 1st quarter. Comerica Bank now owns 49,865 shares of the company’s stock valued at $1,729,000 after buying an additional 2,561 shares during the last quarter. iA Global Asset Management Inc. acquired a new position in Pinterest in the 1st quarter valued at $722,000. Virtu Financial LLC raised its position in Pinterest by 93.7% during the 1st quarter. Virtu Financial LLC now owns 11,099 shares of the company’s stock worth $385,000 after buying an additional 5,368 shares during the last quarter. Finally, Swedbank AB acquired a new stake in shares of Pinterest in the 1st quarter worth $1,714,000. 88.81% of the stock is owned by hedge funds and other institutional investors.

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.