Benjamin Silbermann Sells 102,083 Shares of Pinterest, Inc. (NYSE:PINS) Stock

Pinterest, Inc. (NYSE:PINS) Director Benjamin Silbermann sold 102,083 shares of the stock in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of $35.99, for a total transaction of $3,673,967.17. Following the transaction, the director now owns 8,414 shares in the company, valued at $302,819.86. The trade was a 92.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Benjamin Silbermann also recently made the following trade(s):

• On Wednesday, June 18th, Benjamin Silbermann sold 102,083 shares of Pinterest stock. The stock was sold at an average price of $34.82, for a total transaction of $3,554,530.06.
• On Wednesday, June 11th, Benjamin Silbermann sold 102,083 shares of Pinterest stock. The shares were sold at an average price of $34.81, for a total transaction of $3,553,509.23.
• On Wednesday, June 4th, Benjamin Silbermann sold 102,083 shares of Pinterest stock. The stock was sold at an average price of $33.21, for a total transaction of $3,390,176.43.
• On Wednesday, May 28th, Benjamin Silbermann sold 102,083 shares of Pinterest stock. The shares were sold at an average price of $31.47, for a total value of $3,212,552.01.
• On Wednesday, May 21st, Benjamin Silbermann sold 102,083 shares of Pinterest stock. The stock was sold at an average price of $32.13, for a total value of $3,279,926.79.
• On Wednesday, May 14th, Benjamin Silbermann sold 408,332 shares of Pinterest stock. The shares were sold at an average price of $33.16, for a total value of $13,540,289.12.
• On Wednesday, April 2nd, Benjamin Silbermann sold 102,083 shares of Pinterest stock. The stock was sold at an average price of $31.27, for a total value of $3,192,135.41.

Pinterest Price Performance

NYSE:PINS opened at $35.98 on Friday. The firm’s 50-day moving average price is $31.03 and its 200-day moving average price is $31.71. The company has a market capitalization of $24.40 billion, a PE ratio of 13.13, a P/E/G ratio of 1.73 and a beta of 0.91. Pinterest, Inc. has a 1-year low of $23.68 and a 1-year high of $44.79.

Pinterest (NYSE:PINS) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.02). Pinterest had a return on equity of 8.13% and a net margin of 50.41%. The business had revenue of $854.99 million during the quarter, compared to analysts’ expectations of $848.49 million. During the same quarter last year, the company posted $0.17 EPS. Pinterest’s revenue for the quarter was up 15.5% compared to the same quarter last year. Equities analysts anticipate that Pinterest, Inc. will post 0.6 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on PINS shares. Bank of America cut their target price on shares of Pinterest from $46.00 to $35.00 and set a “buy” rating on the stock in a report on Wednesday, April 9th. The Goldman Sachs Group cut their price target on shares of Pinterest from $47.00 to $40.00 and set a “buy” rating on the stock in a report on Monday, April 14th. JPMorgan Chase & Co. upgraded shares of Pinterest from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $35.00 to $40.00 in a research report on Tuesday, June 3rd. Monness Crespi & Hardt dropped their target price on shares of Pinterest from $50.00 to $40.00 and set a “buy” rating for the company in a report on Friday, May 9th. Finally, TD Cowen reduced their price target on Pinterest from $46.00 to $40.00 and set a “buy” rating on the stock in a report on Tuesday, April 8th. Six investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. According to data from MarketBeat.com, Pinterest currently has an average rating of “Moderate Buy” and an average target price of $40.52.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in Pinterest by 2.2% in the first quarter. Vanguard Group Inc. now owns 58,008,711 shares of the company’s stock worth $1,798,270,000 after acquiring an additional 1,263,863 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Pinterest by 25.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 31,892,284 shares of the company’s stock worth $988,662,000 after purchasing an additional 6,460,143 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in Pinterest by 13.7% in the 1st quarter. Ameriprise Financial Inc. now owns 15,498,454 shares of the company’s stock worth $480,452,000 after purchasing an additional 1,862,654 shares in the last quarter. Amundi boosted its stake in Pinterest by 618.9% in the 1st quarter. Amundi now owns 14,254,741 shares of the company’s stock worth $441,897,000 after purchasing an additional 12,271,958 shares in the last quarter. Finally, FMR LLC grew its position in Pinterest by 2.6% during the 4th quarter. FMR LLC now owns 12,599,356 shares of the company’s stock valued at $365,381,000 after purchasing an additional 316,633 shares during the last quarter. Institutional investors own 88.81% of the company’s stock.

About Pinterest

Pinterest, Inc operates as a visual search and discovery platform in the United States and internationally. Its platform allows people to find ideas, such as recipes, home and style inspiration, and others; and to search, save, and shop the ideas. The company was formerly known as Cold Brew Labs Inc and changed its name to Pinterest, Inc in April 2012.