The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Pinterest Inc. shares valued at $188,100 were sold by JORDAN JEFFREY D on Mar 01. At $25.08 per share, JORDAN JEFFREY D sold 7,500 shares. The insider’s holdings dropped to 199,215 shares worth approximately $4.99 million following the completion of this transaction.
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Also, Gavini Naveen sold 52,190 shares, netting a total of over 1,294,114 in proceeds. Following the sale of shares at $24.80 each, the insider now holds 374,996 shares.
Before that, JORDAN JEFFREY D had sold 7,500 shares from its account. In a trade valued at $197,325, the Director traded Pinterest Inc. shares for $26.31 each. Upon closing the transaction, the insider’s holdings decreased to 7,500 shares, worth approximately $5.17 million.
As published in a research note from MKM Partners on January 20, 2023, Pinterest Inc. [PINS] has been rated down from a Buy to a Neutral and the price target has been revised to $27. This represents a 7.3% premium over Wednesday’s closing price. Analysts at Piper Sandler upgraded the stock from ‘”a Neutral”‘ to ‘”an Overweight”‘ outlook in a report released in mid December. As of October 06, 2022, Goldman has increased its “Neutral” rating to a “Buy” for PINS. Earlier on September 07, 2022, Wolfe Research upgraded its rating. Their new recommendation was “an Outperform” for PINS stock which previously was a “a Peer perform”.
Analyzing PINS Stock Performance
On Wednesday, Pinterest Inc. [NYSE: PINS] rose 0.16% to $25.03. The stock’s lowest price that day was $24.13, but it reached a high of $25.04 in the same session. During the last five days, there has been a drop of approximately -2.76%. Over the course of the year, Pinterest Inc. shares have jumped approximately 3.09%. Shares of the company reached a 52-week high of $29.17 on 02/02/23 and a 52-week low of $22.56 on 01/03/23. A 50-day SMA is recorded $25.63, while a 200-day SMA reached $23.17. Nevertheless, trading volume fell to 10.5 million shares from 11.17 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 24.43, which, if violated, would cause prices to drop to 23.82. In the upper region, resistance lies at 25.34. The next price resistance is at 25.64. RSI (Relative Strength Index) is 48.09 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.69, which suggests the price will decrease in the coming days. Percent R is at 54.78%, 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 Jan 12, 2023 dropping by -0.33 million shares to 31.83 million. Data from Yahoo Finance shows that the short interest on Dec 14, 2022 was 32.16 million shares. A decline of -1.04% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 2.91 of the overall float, the days-to-cover ratio (short ratio) decline to 2.91.
Which companies own the most shares of Pinterest Inc. (PINS)?
According to The Vanguard Group, Inc. filings, the company currently owns 52,905,519 shares, which is about 8.90% of the total PINS shares outstanding. The investor’s shares have appreciated by 1,178,873 from its previous 13-F filing of 51726646.0 shares. With the completion of the buy transaction, Elliott Investment Management LP’s stake is now worth $700,883,503. Flossbach von Storch AG reduced a -7.77% interest valued at $668.55 million while Barclays Bank Plc purchased a 6,322,884 stake. A total of -2,825,424 shares of Pinterest Inc. were bought by Harris Associates LP during the quarter, and 1,299,589 were bought by BlackRock Fund Advisors. In its current portfolio, T. Rowe Price Associates, Inc. holds 20,073,874 shares valued at $504.05 million.
In terms of Pinterest Inc. share price expectations, FactSet research, analysts set an average price target of $28.85 in the next 12 months, up nearly 10.04% from the previous closing price of $24.99. Analysts anticipate Pinterest Inc. stock to reach $39.00 by 2023, with the lowest price target being $22.00. In spite of this, 32 analysts ranked Pinterest Inc. stock as an Overweight at the end of 2023. On August 02, 2022, Susquehanna assigned a price target of “a Positive” to the stock and upgraded coverage with a $35.