Sunday, June 26, 2022

Selling Buzz: Pinterest Inc. [PINS] Director Sharp Evan sells 1,683,512 shares of the company

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Pinterest Inc. shares valued at $29,495,267 were sold by Sharp Evan on Jun 17. At $17.52 per share, Sharp Evan sold 1,683,512 shares. The insider’s holdings dropped to 0 shares worth approximately $0.0 following the completion of this transaction.

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Also, Sharp Evan sold 422,399 shares, netting a total of over 7,401,076 in proceeds. Following the sale of shares at $17.52 each, the insider now holds 0 shares.

Before that, Gavini Naveen had sold 5,491 shares from its account. In a trade valued at $109,820, the SVP, Products traded Pinterest Inc. shares for $20.00 each. Upon closing the transaction, the insider’s holdings decreased to 5,491 shares, worth approximately $10.0 million.

As published in a research note from Piper Sandler on June 02, 2022, Pinterest Inc. [PINS] has been rated down from an Overweight to a Neutral and the price target has been revised to $23 from $35. This represents a 17.87% premium over Wednesday’s closing price. As of April 19, 2022, Rosenblatt has initiated its “Neutral” rating for PINS. Earlier on March 29, 2022, Morgan Stanley downgraded its rating. Their new recommendation was “an Equal-weight” for PINS stock which previously was a “an Overweight”.

Analyzing PINS’s Price Performance

On Wednesday, Pinterest Inc. [NYSE: PINS] rose 2.55% to $18.89. The stock’s lowest price that day was $18.07, but it reached a high of $19.255 in the same session. During the last five days, there has been a surge of approximately 9.89%. Over the course of the year, Pinterest Inc. shares have dropped approximately -48.03%. Shares of the company reached a 52-week high of $36.95 on 01/03/22 and a 52-week low of $16.14 on 05/24/22. A 50-day SMA is recorded $20.55, while a 200-day SMA reached $33.40. Nevertheless, trading volume fell to 15.61 million shares from 15.4 million shares the previous day.

Support And Resistance Levels for Pinterest Inc. (PINS)

According to the 24-hour chart, there is a support level at 18.22, which, if violated, would cause prices to drop to 17.55. In the upper region, resistance lies at 19.41. The next price resistance is at 19.92. RSI (Relative Strength Index) is 47.03 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.51, which suggests the price will decrease in the coming days. Percent R is at 53.10%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.

Is Pinterest Inc. subject to short interest?

Stocks of Pinterest Inc. saw a sharp rise in short interest on Apr 28, 2022 jumping by 11.98 million shares to 39.89 million. Data from Yahoo Finance shows that the short interest on Mar 30, 2022 was 27.91 million shares. A jump of 30.03% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 3.06 of the overall float, the days-to-cover ratio (short ratio) jumped to 3.06.

Which companies own the most shares of Pinterest Inc. (PINS)?

According to The Vanguard Group, Inc. filings, the company currently owns 48,955,589 shares, which is about 8.52% of the total PINS shares outstanding. The investor’s shares have appreciated by 1,007,494 from its previous 13-F filing of 47948095.0 shares. With the completion of the buy, Flossbach von Storch AG’s stake is now worth $616,557,480. BlackRock Fund Advisors acquire a 3.38% interest valued at $408.77 million while T. Rowe Price Associates, Inc. sold a -12,282,500 stake. A total of 18,462,331 shares of Pinterest Inc. were sold by Harris Associates LP during the quarter, and 2,929,577 were bought by Macquarie Investment Management B. In its current portfolio, SSgA Funds Management, Inc. holds 12,143,900 shares valued at $238.63 million.

In terms of Pinterest Inc. share price expectations, FactSet research, analysts set an average price target of $26.24 in the next 12 months, up nearly 30.29% from the previous closing price of $18.42. Analysts anticipate Pinterest Inc. stock to reach $37.00 by 2022, with the lowest price target being $15.00. In spite of this, 30 analysts ranked Pinterest Inc. stock as a Hold at the end of 2022.

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