Pinterest, Inc. (NYSE:PINS) Director Benjamin Silbermann Sells 408,332 Shares of Stock

Pinterest, Inc. (NYSE:PINS) Director Benjamin Silbermann sold 408,332 shares of the company’s stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $33.16, for a total value of $13,540,289.12. Following the completion of the transaction, the director now directly owns 6,274 shares of the company’s stock, valued at $208,045.84. This trade represents a 98.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Wednesday, April 2nd, Benjamin Silbermann sold 102,083 shares of Pinterest stock. The shares were sold at an average price of $31.27, for a total value of $3,192,135.41.
• On Wednesday, March 26th, Benjamin Silbermann sold 102,083 shares of Pinterest stock. The shares were sold at an average price of $33.71, for a total value of $3,441,217.93.
• On Wednesday, March 19th, Benjamin Silbermann sold 102,083 shares of Pinterest stock. The shares were sold at an average price of $31.16, for a total value of $3,180,906.28.

Pinterest Stock Performance

NYSE:PINS opened at $32.28 on Friday. Pinterest, Inc. has a 1 year low of $23.68 and a 1 year high of $45.19. The stock has a market capitalization of $21.89 billion, a price-to-earnings ratio of 12.00, a PEG ratio of 1.95 and a beta of 0.83. The stock has a fifty day moving average price of $28.72 and a two-hundred day moving average price of $31.23.

Pinterest (NYSE:PINS) last announced its quarterly earnings results 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 net margin of 51.07% and a return on equity of 8.10%. The firm had revenue of $854.99 million during the quarter, compared to analysts’ expectations of $848.49 million. During the same quarter in the prior year, the business earned $0.17 EPS. The company’s quarterly revenue was up 15.5% compared to the same quarter last year. On average, analysts predict that Pinterest, Inc. will post 0.6 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have weighed in on PINS. Wedbush reiterated an “outperform” rating and issued a $40.00 price objective (up previously from $38.00) on shares of Pinterest in a research note on Friday, May 9th. Piper Sandler reduced their price objective on Pinterest from $41.00 to $34.00 and set a “neutral” rating for the company in a research note on Thursday, April 10th. Guggenheim reduced their price objective on Pinterest from $40.00 to $39.00 and set a “buy” rating for the company in a research note on Friday, May 9th. Wolfe Research upgraded Pinterest from a “peer perform” rating to an “outperform” rating and set a $40.00 price objective for the company in a research note on Thursday. Finally, Bank of America reduced their price objective on Pinterest from $46.00 to $35.00 and set a “buy” rating for the company in a research note on Wednesday, April 9th. Seven analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $40.26.

Institutional Trading of Pinterest

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bartlett & CO. Wealth Management LLC purchased a new stake in Pinterest during the 1st quarter worth about $25,000. Garde Capital Inc. purchased a new stake in Pinterest during the 1st quarter worth about $26,000. Whipplewood Advisors LLC purchased a new stake in Pinterest during the 4th quarter worth about $28,000. GAMMA Investing LLC increased its position in Pinterest by 63.5% during the 4th quarter. GAMMA Investing LLC now owns 1,069 shares of the company’s stock worth $31,000 after purchasing an additional 415 shares in the last quarter. Finally, NBC Securities Inc. increased its position in Pinterest by 99,900.0% during the 1st quarter. NBC Securities Inc. now owns 1,000 shares of the company’s stock worth $31,000 after purchasing an additional 999 shares in the last quarter. Hedge funds and other institutional investors own 88.81% of the company’s stock.

Pinterest Company Profile

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.