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 $701,672 were sold by JORDAN JEFFREY D on Apr 01 ’24. At $35.08 per share, JORDAN JEFFREY D sold 20,000 shares. The insider’s holdings dropped to 34,215 shares worth approximately $1.16 million following the completion of this transaction.
Also, Brau Donnelly Julia sold 30,221 shares, netting a total of over 1,071,330 in proceeds. Following the sale of shares at $35.45 each, the insider now holds 327,358 shares.
Before that, Rajaram Gokul had sold 1,934 shares from its account. In a trade valued at $65,949, the Director traded Pinterest Inc shares for $34.10 each. Upon closing the transaction, the insider’s holdings decreased to 1,934 shares, worth approximately $1.14 million.
As published in a research note from Argus on January 18, 2024, Pinterest Inc [PINS] has been rated up from a Hold to a Buy and the price target has been revised to $45. Analysts at BMO Capital Markets started covering the stock with ‘”an Outperform”‘ outlook in a report released in early January. Earlier on December 11, 2023, RBC Capital Mkts upgraded its rating. Their new recommendation was “an Outperform” for PINS stock which previously was a “a Sector perform”.
Analyzing PINS Stock Performance
During the last five days, there has been a drop of approximately -1.87%. Over the course of the year, Pinterest Inc shares have dropped approximately -8.15%. Shares of the company reached a 52-week high of $41.60 on 02/06/24 and a 52-week low of $33.32 on 04/10/24. A 50-day SMA is recorded $35.73, while a 200-day SMA reached $31.69. Nevertheless, trading volume fell to 6.49 million shares from 7.31 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 33.66, which, if violated, would cause prices to drop to 33.29. In the upper region, resistance lies at 34.32. The next price resistance is at 34.61. RSI (Relative Strength Index) is 44.19 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.57, which suggests the price will decrease in the coming days. Percent R is at 82.28%, indicating bearish price movement. Stochastics %K at buying 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 Mar 15, 2024 dropping by -4.46 million shares to 24.5 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 28.96 million shares. A decline of -18.2% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 2.82 of the overall float, the days-to-cover ratio (short ratio) decline to 2.82.
