Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Pinterest Inc shares valued at $33,833 were purchased by Rajaram Gokul on Sep 18 ’24. At $29.42 per share, Rajaram Gokul acquired 1,150 shares.
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Also, Ellis Sabrina sold 22,337 shares, netting a total of over 697,808 in proceeds. Following the sale of shares at $31.24 each, the insider now holds 474,533 shares.
Before that, Walcott Wanjiku Juanita had sold 11,767 shares from its account. In a trade valued at $371,484, the Chief Legal & Bus Affairs Ofc. traded Pinterest Inc shares for $31.57 each. Upon closing the transaction, the insider’s holdings decreased to 11,767 shares, worth approximately $8.46 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 surge of approximately 4.13%. Over the course of the year, Pinterest Inc shares have dropped approximately -17.60%. 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 $33.00, while a 200-day SMA reached $36.72. Nevertheless, trading volume fell to 8.09 million shares from 6.69 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 30.24, which, if violated, would cause prices to drop to 29.95. In the upper region, resistance lies at 30.84. The next price resistance is at 31.15. RSI (Relative Strength Index) is 47.14 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.01, which suggests the price will decrease in the coming days. Percent R is at 46.70%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
