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 $5,768,733 were sold by Sharp Evan on May 15 ’24. At $41.88 per share, Sharp Evan sold 137,756 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 53,958 shares, netting a total of over 2,259,427 in proceeds. Following the sale of shares at $41.87 each, the insider now holds 0 shares.
Before that, Rajaram Gokul had sold 1,934 shares from its account. In a trade valued at $81,712, the Director traded Pinterest Inc shares for $42.25 each. Upon closing the transaction, the insider’s holdings decreased to 1,934 shares, worth approximately $1.23 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 -3.44%. Over the course of the year, Pinterest Inc shares have jumped approximately 11.50%. Shares of the company reached a 52-week high of $43.12 on 05/20/24 and a 52-week low of $30.56 on 04/25/24. A 50-day SMA is recorded $36.59, while a 200-day SMA reached $33.20. Nevertheless, trading volume fell to 5.7 million shares from 6.27 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 40.94, which, if violated, would cause prices to drop to 40.59. In the upper region, resistance lies at 41.77. The next price resistance is at 42.25. RSI (Relative Strength Index) is 62.91 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 60.67%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
