In a filing, Pinterest Inc revealed its Director JORDAN JEFFREY D unloaded Company’s shares for reported $0.7 million on Apr 01 ’24. In the deal valued at $35.08 per share,20,000 shares were sold. As a result of this transaction, JORDAN JEFFREY D now holds 34,215 shares worth roughly $1.16 million.
Then, Brau Donnelly Julia sold 30,221 shares, generating $1,071,330 in total proceeds. Upon selling the shares at $35.45, the Chief Financial Officer now owns 327,358 shares.
Before that, Rajaram Gokul sold 1,934 shares. Pinterest Inc shares valued at $65,949 were divested by the Director at a price of $34.10 per share. As a result of the transaction, Rajaram Gokul now holds 33,580 shares, worth roughly $1.14 million.
Argus upgraded its Pinterest Inc [PINS] rating to a Buy from a a Hold in a research note published recently. A number of analysts have revised their coverage, including BMO Capital Markets’s analysts, who began to cover the stock in early January with a ‘”an Outperform”‘ rating. RBC Capital Mkts revised its rating on December 11, 2023. It rated PINS as “an Outperform” which previously was an “a Sector perform”.
Price Performance Review of PINS
On Monday, Pinterest Inc [NYSE:PINS] saw its stock fall -0.88% to $33.98. Over the last five days, the stock has lost -3.79%. Pinterest Inc shares have fallen nearly -8.26% since the year began. Nevertheless, the stocks have risen 24.33% over the past one year. While a 52-week high of $41.60 was reached on 02/06/24, a 52-week low of $20.60 was recorded on 03/25/24. SMA at 50 days reached $35.99, while 200 days put it at $31.57. A total of 4.53 million shares were traded, compared to the trading of 6.57 million shares in the previous session.
Levels Of Support And Resistance For PINS Stock
The 24-hour chart illustrates a support level at 33.81, which if violated will result in even more drops to 33.64. On the upside, there is a resistance level at 34.27. A further resistance level may holdings at 34.56. The Relative Strength Index (RSI) on the 14-day chart is 41.37, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.34, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 87.73%. Stochastics %K at 21.07% indicates the stock is a holding.
How much short interest is there in Pinterest Inc?
A steep rise in short interest was recorded in Pinterest Inc stocks on Mar 15, 2024, dropping by -4.46 million shares to a total of 24.5 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 28.96 million shares. There was a decline of -18.2%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 4.14% of the overall stock float, the days-to-cover ratio (short ratio) fell to 2.82.
