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 company’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $30.82, for a total transaction of $365,586.84. Following the transaction, the insider now owns 246,921 shares of the company’s stock, valued at approximately $7,610,105.22. This represents a 4.58 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Pinterest Trading Down 0.1 %

Shares of NYSE:PINS traded down $0.02 on Friday, reaching $30.30. The company had a trading volume of 3,510,815 shares, compared to its average volume of 9,619,156. Pinterest, Inc. has a 52-week low of $27.00 and a 52-week high of $45.19. The firm’s 50 day simple moving average is $31.80 and its 200-day simple moving average is $35.44. The firm has a market capitalization of $20.47 billion, a PE ratio of 100.99, a PEG ratio of 2.17 and a beta of 1.02.

Wall Street Analysts Forecast Growth

PINS has been the subject of several research analyst reports. Raymond James cut their price target on Pinterest from $40.00 to $34.00 and set an “outperform” 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 target price for the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $48.00 price target on shares of Pinterest in a research note on Thursday, September 12th. TD Cowen started coverage on shares of Pinterest in a research report on Tuesday. They set a “buy” rating and a $38.00 target price on the stock. Finally, Wedbush raised shares of Pinterest from a “hold” rating to a “strong-buy” rating in a report on Monday, November 11th. Seven analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $41.63.

Institutional Trading of Pinterest

Several hedge funds have recently modified their holdings of the company. Brown Shipley& Co Ltd purchased a new stake in shares of Pinterest during the 2nd quarter valued at $25,000. Wellington Shields Capital Management LLC acquired a new stake in Pinterest in the second quarter worth about $26,000. Hexagon Capital Partners LLC grew its stake in shares of 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 shares of Pinterest by 113.4% in the 2nd 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 last quarter. Finally, Rothschild Investment LLC acquired a new stake in shares of Pinterest during the second quarter worth $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.