SAN FRANCISCO – Rajaram Gokul, board member of Pinterest, Inc. (NYSE:), recently sold 1,150 shares of the company's Class A common stock. This emerges from a report to the US Securities and Exchange Commission (SEC). The shares were sold at an average price of $30.98 each, for a total transaction value of $35,627. The sale comes as Pinterest, currently valued at $20 billion, has seen its share price decline 33% over the past six months, according to InvestingPro data.
Following this transaction, Gokul directly holds 31,386 shares. Additionally, he indirectly owns 3,957 shares through the Rajaram Family Revocable Trust. InvestingPro's analysis shows that Pinterest has a solid financial base, with a cash ratio of 7.9 and has more cash than debt on its balance sheet. The stock sales were conducted under a Rule 10b5-1 trading plan, which allows company insiders to create a predetermined schedule for stock sales. With an InvestingPro subscription you get access to over 10 other exclusive insights on Pinterest.
In other recent developments has Pinterest Inc . Experienced some notable changes. Evercore ISI lowered its price target on Pinterest to $43 but maintained an “Outperform” rating. Despite expected challenges in the first quarter of 2025, the analyst firm expects revenue growth to accelerate throughout the year. Piper Sandler downgraded Pinterest shares to Neutral from Overweight and reduced its price target to $36, citing mixed financial results and cautious growth forecasts.
KeyBanc also adjusted its financial forecast for Pinterest, lowering its price target to $39 but maintaining an Overweight rating. This adjustment came after Pinterest's Q3 results, which revealed a lower-than-expected Q4 sales forecast. However, the analytics firm emphasizes that Pinterest's core user engagement remains strong and new partnerships and products are expected to bolster the company's revenue generation.
In contrast, Wedbush upgraded Pinterest shares to Outperform from Neutral and set a new price target of $38. The firm expressed confidence in Pinterest's growth trajectory, forecasting a compound annual growth rate of approximately 27% for Pinterest's calculated EBITDA over the next three years.
At the corporate level, Pinterest has changed its registered agent and office in Delaware. This move reflects internal management decisions rather than significant business developments. These recent developments are important to investors as they provide insights into the company's financial performance and strategic direction.
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