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 $121,118 were sold by Gavini Naveen on Sep 12. At $25.47 per share, Gavini Naveen sold 4,756 shares. The insider’s holdings dropped to 492,141 shares worth approximately $11.77 million following the completion of this transaction.
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Also, Gavini Naveen sold 4,756 shares, netting a total of over 110,984 in proceeds. Following the sale of shares at $23.34 each, the insider now holds 496,897 shares.
Before that, Ready William J had added 222,551 shares to its account. In a trade valued at $5,000,009, the Chief Executive Officer bought Pinterest Inc. shares for $22.47 each. Upon closing the transaction, the insider’s holdings increased to 222,551 shares, worth approximately $5.32 million.
As published in a research note from Wolfe Research on September 07, 2022, Pinterest Inc. [PINS] has been rated up from a Peer perform to an Outperform and the price target has been revised to $28. This represents a 14.61% premium over Wednesday’s closing price. Analysts at Susquehanna upgraded the stock from ‘”a Neutral”‘ to ‘”a Positive”‘ outlook in a report released in early August. As of June 02, 2022, Piper Sandler has decreased its “an Overweight” rating to a “Neutral” for PINS.
Analyzing PINS’s Price Performance
On Wednesday, Pinterest Inc. [NYSE: PINS] plunged -3.43% to $23.91. The stock’s lowest price that day was $23.80, but it reached a high of $25.18 in the same session. During the last five days, there has been a drop of approximately -3.43%. Over the course of the year, Pinterest Inc. shares have dropped approximately -34.22%. 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 $22.12, while a 200-day SMA reached $24.68. Nevertheless, trading volume fell to 12.15 million shares from 10.76 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 23.41, which, if violated, would cause prices to drop to 22.92. In the upper region, resistance lies at 24.79. The next price resistance is at 25.68. RSI (Relative Strength Index) is 51.95 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.44, which suggests the price will decrease in the coming days. Percent R is at 42.83%, 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 steep in short interest on Jul 14, 2022 dropping by -8.86 million shares to 45.86 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 54.72 million shares. A decline of -19.32% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 2.7 of the overall float, the days-to-cover ratio (short ratio) decline to 2.7.
Which companies own the most shares of Pinterest Inc. (PINS)?
According to The Vanguard Group, Inc. filings, the company currently owns 50,105,929 shares, which is about 8.60% of the total PINS shares outstanding. The investor’s shares have appreciated by 1,150,340 from its previous 13-F filing of 48955589.0 shares. With the completion of the buy transaction, Flossbach von Storch AG’s stake is now worth $756,329,933. Harris Associates LP acquire a 60.31% interest valued at $685.49 million while Barclays Bank Plc purchased a 19,703,854 stake. A total of -748,563 shares of Pinterest Inc. were bought by BlackRock Fund Advisors during the quarter, and 15,394,756 were bought by Goldman Sachs & Co. LLC. In its current portfolio, T. Rowe Price Associates, Inc. holds 15,149,357 shares valued at $349.04 million.
In terms of Pinterest Inc. share price expectations, FactSet research, analysts set an average price target of $25.22 in the next 12 months, up nearly 0.97% from the previous closing price of $24.76. Analysts anticipate Pinterest Inc. stock to reach $35.00 by 2022, with the lowest price target being $16.00. In spite of this, 33 analysts ranked Pinterest Inc. stock as a Hold at the end of 2022. On April 19, 2022, Rosenblatt assigned a price target of “a Neutral” to the stock and initiated coverage with a $21.