Rajaram Gokul, a director at Pinterest, Inc. (NYSE:PINS), recently sold a portion of his holdings in the company. According to a recent SEC filing, Gokul sold 1,150 shares of Class A Common Stock at an average price of $30.43 per share, totaling approximately $34,994. This transaction was conducted under a Rule 10b5-1 trading plan, which allows insiders to set up a predetermined schedule for selling stocks. According to InvestingPro data, Pinterest currently trades near $30.39, with analysts setting price targets ranging from $28 to $51.
Following the sale, Gokul directly owns 30,236 shares of Pinterest stock. Additionally, he holds 3,957 shares indirectly through the Rajaram Family Revocable Trust. The filing also notes that some of these shares include Restricted Stock Units subject to vesting requirements. InvestingPro analysis shows Pinterest maintains strong financial health with a 7.9x current ratio and holds more cash than debt on its balance sheet. For deeper insights into Pinterest's financial health and 12 additional ProTips, check out the comprehensive Pro Research Report available on InvestingPro.
In other recent news, Pinterest Inc (NYSE:PINS). has seen significant developments. The company awarded its CEO, Bill Ready, performance-based restricted stock units valued at $18 million. This move, aimed at aligning the CEO's incentives with long-term shareholder value, was announced by Pinterest's Talent Development and Compensation Committee. Analysts from various firms have also made noteworthy adjustments to Pinterest's stock ratings and price targets. Monness, Crespi, Hardt upgraded Pinterest's stock rating from Neutral to Buy, setting a new price target of $40, while Piper Sandler downgraded Pinterest's stock from Overweight to Neutral, reducing the price target to $36. BofA Securities maintained a Buy rating on Pinterest, despite reducing its revenue forecast for 2025 to $4.1 billion. Evercore ISI also adjusted its price target for Pinterest to $43, maintaining an Outperform rating. These recent developments reflect the company's strong revenue growth of 17.7% over the last twelve months and its strategic efforts to enhance shareholder value.
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