News Pinterest

Pinterest Insider Sells Shares, Stock Price Rises

Pinterest, Inc. (NYSE: PINS) insider Christine Deputy recently sold 14,896 shares of the company’s stock, with the shares being sold at an average price of $26.08. The total value of the transaction was $388,487.68. Following the sale, Deputy now owns 316,381 shares of Pinterest stock, valued at $8,251,216.48.

Christine Deputy has also made other sales of Pinterest stock in the past. On September 14th, she sold 45,153 shares at an average price of $26.48, totaling $1,195,651.44. On August 21st, she sold another 45,153 shares at an average price of $27.26, totaling $1,230,870.78.

The sale of shares Deputy was disclosed in a filing with the Securities & Exchange Commission. The filing can be accessed through the SEC’s website.

Shares of Pinterest have experienced a 1.3% increase in value, trading at $26.83 on the New York Stock Exchange. The stock has a market capitalization of $17.98 billion and a price-to-earnings ratio of -62.49.

Pinterest last released its quarterly earnings data on August 1st, reporting earnings per share of ($0.04) for the quarter, beating the consensus estimate of ($0.10) $0.06. The company had revenue of $708.03 million for the quarter, surpassing analyst estimates of $698.28 million.

Hedge funds and other institutional investors have shown interest in Pinterest stock, with several modifying their holdings. For example, Compass Wealth Management LLC purchased a stake in Pinterest valued at $27,000, while Cohanzick Management LLC purchased a stake valued at $25,000. Pinnacle Holdings LLC also acquired a stake valued at $35,000.

Multiple research firms have commented on Pinterest stock. Robert W. Baird increased its price target to $34.00, while JPMorgan Chase & Co. raised the target to $32.00. The Goldman Sachs Group set a price target of $32.00, and Citigroup increased its rating from “neutral” to “buy” with a price target of $36.00. Eleven analysts have given the stock a hold rating, while fourteen have issued a buy rating.

Pinterest, Inc. operates as a visual discovery engine that allows users to find ideas, provides video and product pins, and offers organizing and planning tools. The company generates its revenue through advertising and shoppable product pins.

Sources: MarketBeat, SEC