Walcott Wanjiku Juanita, the Chief Legal and Business Affairs Officer at Pinterest, Inc. (NYSE:PINS), a social media company with a market capitalization of $20.5 billion, recently sold a significant portion of the company's Class A Common Stock. According to InvestingPro data, Pinterest maintains strong financial health, holding more cash than debt on its balance sheet. According to a recent SEC filing, Wanjiku sold 11,862 shares on November 27, 2024. The shares were sold at a weighted average price of $30.82, resulting in a total transaction value of approximately $365,586. This transaction was carried out under a pre-established Rule 10b5-1 trading plan. Following this sale, Wanjiku holds 246,921 shares of Pinterest, which includes restricted stock units subject to vesting requirements. Notably, 15 analysts have recently revised their earnings estimates upward for Pinterest, and InvestingPro's analysis indicates the stock is currently trading below its Fair Value. For deeper insights into Pinterest's valuation and growth prospects, investors can access the comprehensive Pro Research Report, available exclusively on InvestingPro.
In other recent news, Pinterest, Inc. reported an 18% increase in Q3 revenue, reaching $898 million. The company's global monthly active users also saw an 11% rise, now standing at 537 million. Analyst firms have been active in adjusting their outlook on Pinterest. KeyBanc reduced the company's price target from $45 to $39, maintaining an Overweight rating, while BMO Capital Markets lowered its price target from $46 to $40, citing anticipated increases in research and development costs. However, Wedbush upgraded Pinterest's stock rating from Neutral to Outperform, setting a new price target of $38, citing confidence in the company's growth trajectory. These are recent developments that investors should be aware of. The company also announced a change in its registered agent and office in the state of Delaware, a move that reflects internal administrative decisions. The company's fiscal year-end remains on December 31.
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