News

Pinterest Co-Founder and Insiders Cash in on Soaring Shares

1 Mins read

Pinterest (ticker: PINS) has caught the attention of Wall Street as the company’s shares reached a one-year high in July. Analysts are optimistic about Pinterest’s advertising prospects, with a growing number giving the stock a Buy or equivalent rating. Currently, 45% of analysts on FactSet have a positive outlook on the stock, up from 39% in May. Over the past year, Pinterest’s stock has climbed 45%, hitting a 52-week high of $30.86 before recent adjustments – and just before co-founder Evan Sharp decided to sell some of his shares.

Max Magee, a senior analyst at data firm Verity, drew attention to Sharp’s recent sales due to the timing and price achieved. Unlike previous automatic sales that took place on the 26th or 27th of the first month of each quarter over the past year, this transaction deviated from the pattern. Magee believes that it “conveys some information” regarding Sharp’s willingness to part with shares at around $30. The market eagerly awaits Pinterest’s second-quarter results expected to be announced on Tuesday.

Related posts
News

Unexpected Stock Market Rally

2 Mins read
Despite mixed expectations and original justifications falling apart, the stock market rally continues to soar, reaching new highs in various sectors. Let’s…
News

Analyst Sees Opportunity in DraftKings Stock

2 Mins read
A roughly 10% pullback in DraftKings Inc.’s stock following last week’s earnings report has caught the attention of analysts. Barclays’ Brandt Montour…
News

Bloomin' Brands Inc. Fourth-Quarter Report

1 Mins read
Despite a lower fourth-quarter profit, Bloomin’ Brands Inc. (BLMN) managed to exceed analyst estimates with its adjusted earnings thanks to a strong…

Leave a Reply

Your email address will not be published. Required fields are marked *

− 3 = 3