Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Pinterest Inc shares valued at $168,796 were sold by Acosta Andrea on Jun 13 ’24. At $43.90 per share, Acosta Andrea sold 3,845 shares. The insider’s holdings dropped to 189,470 shares worth approximately $8.34 million following the completion of this transaction.
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Also, Ellis Sabrina sold 22,345 shares, netting a total of over 925,530 in proceeds. Following the sale of shares at $41.42 each, the insider now holds 542,848 shares.
Before that, Walcott Wanjiku Juanita had sold 11,627 shares from its account. In a trade valued at $481,603, the Chief Legal & Bus Affairs Ofc. traded Pinterest Inc shares for $41.42 each. Upon closing the transaction, the insider’s holdings decreased to 11,627 shares, worth approximately $13.52 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 surge of approximately 0.25%. Over the course of the year, Pinterest Inc shares have jumped approximately 18.82%. Shares of the company reached a 52-week high of $45.01 on 06/20/24 and a 52-week low of $30.56 on 04/25/24. A 50-day SMA is recorded $39.52, while a 200-day SMA reached $34.63. Nevertheless, trading volume fell to 5.83 million shares from 9.4 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 43.34, which, if violated, would cause prices to drop to 42.68. In the upper region, resistance lies at 44.84. The next price resistance is at 45.68. RSI (Relative Strength Index) is 65.54 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.02, which suggests the price will increase in the coming days. Percent R is at 22.78%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
