Bitcoin price today: dips below $112k, near 6-wk low despite Fed cut bets
Jeremy Levine, a director at Pinterest, Inc. (NYSE:PINS), recently sold a significant portion of his holdings in the company. According to a recent SEC filing, Levine sold a total of 50,535 shares of Class A Common Stock on March 7. The shares were sold at prices ranging from $33.13 to $34.53, resulting in total proceeds of approximately $1.72 million. The company maintains strong financial health with a current ratio of 8.75 and holds more cash than debt on its balance sheet.
The transactions were executed in two batches. The first batch involved the sale of 24,735 shares at an average price of $33.625, while the second batch consisted of 25,800 shares sold at an average price of $34.327. Following these transactions, Levine retains ownership of 1,156,693 shares in Pinterest, including restricted stock units subject to vesting requirements.
This move by Levine, who has been a director at Pinterest, comes amid ongoing fluctuations in the company’s stock price. While the stock has seen a 18% gain year-to-date, InvestingPro analysis suggests Pinterest is currently trading near its Fair Value. Notably, 11 analysts have revised their earnings upwards for the upcoming period, with price targets ranging from $32 to $55. For deeper insights into Pinterest’s valuation and growth prospects, investors can access comprehensive analysis and additional ProTips through InvestingPro’s detailed research reports.
In other recent news, Pinterest Inc has been the subject of several analyst updates following its strong fourth-quarter earnings performance, which saw a year-over-year revenue increase of 18% and an adjusted EBITDA of $471 million, surpassing consensus estimates. TD Cowen raised its price target for Pinterest to $46, highlighting the company’s strategic initiatives like AI-led user engagement improvements and increased advertising load as key drivers for future growth. RBC Capital Markets also increased its price target to $50, citing Pinterest’s effective strategy in enhancing user engagement and the rollout of Performance+, which is expected to improve advertising capabilities. CFRA raised its price target to $53, maintaining a Strong Buy rating, and emphasized Pinterest’s investments in artificial intelligence and shoppable content as positive developments. Benchmark maintained its Buy rating with a $55 target, noting the potential for revenue growth from Pinterest’s Performance+ products and the monetization of its unique first-party data. Piper Sandler increased its price target to $41 but kept a Neutral rating, acknowledging improved revenue and EBITDA projections while expressing caution about the competitive advertising landscape. These developments reflect a generally positive outlook on Pinterest’s financial health and strategic direction, with analysts focusing on the company’s growth initiatives and market position.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.