In a filing, Pinterest Inc revealed its Chief Product Officer Ellis Sabrina unloaded Company’s shares for reported $0.7 million on Aug 27 ’24. In the deal valued at $31.24 per share,22,337 shares were sold. As a result of this transaction, Ellis Sabrina now holds 474,533 shares worth roughly $13.71 million.
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Then, Walcott Wanjiku Juanita sold 11,767 shares, generating $371,484 in total proceeds. Upon selling the shares at $31.57, the Chief Legal & Bus Affairs Ofc. now owns 277,041 shares.
Before that, Acosta Andrea sold 3,845 shares. Pinterest Inc shares valued at $121,387 were divested by the Chief Accounting Officer at a price of $31.57 per share. As a result of the transaction, Acosta Andrea now holds 172,687 shares, worth roughly $4.99 million.
Cantor Fitzgerald initiated its Pinterest Inc [PINS] rating to an Overweight in a research note published on September 05, 2024; the price target was $41. A number of analysts have revised their coverage, including Wells Fargo’s analysts, who remained covering the stock and in late July has reiterated a ‘”an Overweight”‘ rating for it. Piper Sandler also remained covering PINS and reiterated its “an Overweight” recommendation on July 31, 2024. KeyBanc Capital Markets maintained its rating on July 31, 2024. It rated PINS as “an Overweight”.
Price Performance Review of PINS
On Monday, Pinterest Inc [NYSE:PINS] saw its stock jump 0.10% to $28.89. Over the last five days, the stock has lost -1.77%. Pinterest Inc shares have fallen nearly -22.00% since the year began. Nevertheless, the stocks have risen 11.03% over the past one year. While a 52-week high of $45.19 was reached on 06/25/24, a 52-week low of $23.59 was recorded on 08/05/24. SMA at 50 days reached $33.80, while 200 days put it at $36.78.
Levels Of Support And Resistance For PINS Stock
The 24-hour chart illustrates a support level at 28.63, which if violated will result in even more drops to 28.36. On the upside, there is a resistance level at 29.15. A further resistance level may holdings at 29.40. The Relative Strength Index (RSI) on the 14-day chart is 31.14, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -1.20, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 89.71%. Stochastics %K at 13.31% indicates the stock is a buying.
How much short interest is there in Pinterest Inc?
A steep rise in short interest was recorded in Pinterest Inc stocks on 2024-08-30, dropping by -10.03 million shares to a total of 18.11 million shares. Yahoo Finance data shows the prior-month short interest on 2024-07-31 was 28.13 million shares. There was a decline of -55.38%, which implies that there is a negative sentiment for the stock.
The most recent change occurred on July 31, 2024 when JP Morgan resumed its ‘”a Neutral”‘ rating for the stock and retained the price target to $38.
