Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Pinterest Inc shares valued at $38,548 were sold by Rajaram Gokul on Oct 16 ’24. At $33.52 per share, Rajaram Gokul sold 1,150 shares. The insider’s holdings dropped to 33,686 shares worth approximately $1.07 million following the completion of this transaction.
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Also, Rajaram Gokul purchased 1,150 shares, netting a total of over 38,548 in proceeds.
Before that, Brau Donnelly Julia had sold 30,280 shares from its account. In a trade valued at $990,868, the Chief Financial Officer traded Pinterest Inc shares for $32.72 each. Upon closing the transaction, the insider’s holdings decreased to 30,280 shares, worth approximately $9.46 million.
As published in their initiating research note from Oppenheimer on September 24, 2024, Pinterest Inc [PINS] has been an Outperform and the price target has been revised to $45. Analysts at Deutsche Bank started covering the stock with ‘”a Buy”‘ outlook in a report released in late September. As of September 05, 2024, Cantor Fitzgerald has initiated its “an Overweight” rating for PINS. Earlier on July 31, 2024, Wells Fargo 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 -3.37%. Over the course of the year, Pinterest Inc shares have dropped approximately -14.07%. 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 $31.67, while a 200-day SMA reached $36.26. Nevertheless, trading volume fell to 7.29 million shares from 11.67 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 31.43, which, if violated, would cause prices to drop to 31.03. In the upper region, resistance lies at 32.11. The next price resistance is at 32.39. RSI (Relative Strength Index) is 44.16 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.28, which suggests the price will decrease in the coming days. Percent R is at 81.87%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
