Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Pinterest Inc shares valued at $697,808 were sold by Ellis Sabrina on Aug 27 ’24. At $31.24 per share, Ellis Sabrina sold 22,337 shares. The insider’s holdings dropped to 474,533 shares worth approximately $13.87 million following the completion of this transaction.
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Also, Walcott Wanjiku Juanita sold 11,767 shares, netting a total of over 371,484 in proceeds. Following the sale of shares at $31.57 each, the insider now holds 277,041 shares.
Before that, Acosta Andrea had sold 3,845 shares from its account. In a trade valued at $121,387, the Chief Accounting Officer traded Pinterest Inc shares for $31.57 each. Upon closing the transaction, the insider’s holdings decreased to 3,845 shares, worth approximately $5.05 million.
As published in their initiating research note from Cantor Fitzgerald on September 05, 2024, Pinterest Inc [PINS] has been an Overweight and the price target has been revised to $41. Analysts at Wells Fargo resumed the stock at ‘”an Overweight”‘ outlook in a report released in late July. As of July 31, 2024, Piper Sandler has reiterated its “an Overweight” rating for PINS. Earlier on July 31, 2024, KeyBanc Capital Markets resumed its rating. Their recommendation was “an Overweight” for PINS stock.
Analyzing PINS Stock Performance
During the last five days, there has been a drop of approximately -5.22%. Over the course of the year, Pinterest Inc shares have dropped approximately -21.11%. Shares of the company reached a 52-week high of $45.19 on 06/25/24 and a 52-week low of $27.00 on 08/05/24. A 50-day SMA is recorded $34.66, while a 200-day SMA reached $36.82. Nevertheless, trading volume fell to 11.29 million shares from 6.43 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 28.50, which, if violated, would cause prices to drop to 27.79. In the upper region, resistance lies at 29.93. The next price resistance is at 30.65. RSI (Relative Strength Index) is 32.11 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.61, which suggests the price will decrease in the coming days. Percent R is at 82.94%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
