The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Pinterest Inc shares valued at $118,734 were sold by Acosta Andrea on Nov 27 ’24. At $30.88 per share, Acosta Andrea sold 3,845 shares. The insider’s holdings dropped to 158,468 shares worth approximately $5.12 million following the completion of this transaction.
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Also, Walcott Wanjiku Juanita sold 11,862 shares, netting a total of over 365,587 in proceeds. Following the sale of shares at $30.82 each, the insider now holds 246,921 shares.
Before that, Acosta Andrea had added 3,845 shares to its account. In a trade valued at $118,734, the Officer bought Pinterest Inc shares for $30.88 each.
As published in their initiating research note from TD Cowen on November 26, 2024, Pinterest Inc [PINS] has been a Buy and the price target has been revised to $38. Analysts at Wedbush upgraded the stock from ‘”a Neutral”‘ to ‘”an Outperform”‘ outlook in a report released in mid November. As of September 24, 2024, Oppenheimer has initiated its “an Outperform” rating for PINS. Earlier on September 23, 2024, Deutsche Bank initiated its rating. Their recommendation was “a Buy” for PINS stock.
Analyzing PINS Stock Performance
During the last five days, there has been a surge of approximately 4.19%. Over the course of the year, Pinterest Inc shares have dropped approximately -12.80%. 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 $31.84, while a 200-day SMA reached $35.34. Nevertheless, trading volume fell to 12.06 million shares from 9.66 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 31.66, which, if violated, would cause prices to drop to 31.01. In the upper region, resistance lies at 32.79. The next price resistance is at 33.27. RSI (Relative Strength Index) is 58.58 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.28, which suggests the price will increase in the coming days. Percent R is at 7.19%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
