SAN FRANCISCO—Rajaram Gokul, a director at Pinterest, Inc. (NYSE:PINS), has sold 1,150 shares of the company's Class A common stock in a recent transaction, according to a filing with the Securities and Exchange Commission. The shares were sold at an average price of $30.98 each, amounting to a total transaction value of $35,627. This transaction comes as Pinterest, currently valued at $20 billion, has seen its stock decline by 33% over the past six months, according to InvestingPro data.
Following this sale, Gokul holds 31,386 shares directly. Additionally, he has an indirect ownership of 3,957 shares through the Rajaram Family Revocable Trust. InvestingPro analysis shows Pinterest maintains strong financial health with a current ratio of 7.9x and holds more cash than debt on its balance sheet. The sales were conducted under a Rule 10b5-1 trading plan, which allows company insiders to set up a predetermined schedule for selling stocks. Discover 10+ additional exclusive insights about Pinterest with an InvestingPro subscription.
In other recent news, Pinterest Inc (NYSE:PINS). has seen several significant developments. Evercore ISI reduced its price target for Pinterest to $43, citing anticipated challenges in Q1 2025, but maintained an Outperform rating. Despite this, the firm expects Pinterest to accelerate revenue growth throughout 2025. Piper Sandler downgraded Pinterest's stock from Overweight to Neutral and reduced the price target to $36 due to mixed financial results and cautious growth projections.
KeyBanc also adjusted its financial outlook for Pinterest, reducing the price target to $39 while maintaining an Overweight rating, following Pinterest's Q3 results that revealed lower than expected Q4 revenue guidance. However, the firm noted that Pinterest's core user engagement remains strong and new partnerships and products are anticipated to enhance the company's revenue-generating capabilities.
Meanwhile, Wedbush upgraded Pinterest's stock rating from Neutral to Outperform, setting a new price target of $38. The firm expressed confidence in Pinterest's growth trajectory, predicting a compound annual growth rate of about 27% over the next three years for Pinterest's adjusted EBITDA.
On the corporate front, Pinterest has changed its registered agent and office in Delaware, a move reflecting internal administrative decisions rather than significant business developments. These are recent developments that investors should be aware of as they reflect the company's financial performance and strategic decisions.
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