Pinterest, Inc. (NYSE:PINS) Director Sells $3,673,967.17 in Stock

Pinterest, Inc. (NYSE:PINS) Director Benjamin Silbermann sold 102,083 shares of the firm’s stock in a transaction dated 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 directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Wednesday, June 18th, Benjamin Silbermann sold 102,083 shares of Pinterest stock. The shares were 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 shares were 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 transaction 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 transaction of $3,279,926.79.
• On Wednesday, May 14th, Benjamin Silbermann sold 408,332 shares of Pinterest stock. The stock was sold at an average price of $33.16, for a total transaction 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 transaction of $3,192,135.41.

Pinterest Stock Performance

Shares of PINS opened at $35.98 on Friday. The firm has a market cap of $24.40 billion, a price-to-earnings ratio of 13.13, a PEG ratio of 1.77 and a beta of 0.91. Pinterest, Inc. has a fifty-two week low of $23.68 and a fifty-two week high of $44.06. The firm has a 50 day moving average price of $31.25 and a 200-day moving average price of $31.74.

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 the consensus estimate of $848.49 million. During the same quarter in the previous year, the firm posted $0.17 earnings per share. The company’s revenue was up 15.5% compared to the same quarter last year. As a group, equities research analysts predict that Pinterest, Inc. will post 0.6 earnings per share for the current year.

Institutional Investors Weigh In On Pinterest

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC raised its holdings in Pinterest by 73.9% during the 1st quarter. Janney Montgomery Scott LLC now owns 89,034 shares of the company’s stock valued at $2,760,000 after buying an additional 37,829 shares during the last quarter. Jones Financial Companies Lllp raised its holdings in Pinterest by 91.3% during the 4th quarter. Jones Financial Companies Lllp now owns 24,993 shares of the company’s stock valued at $725,000 after buying an additional 11,925 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in Pinterest by 21.1% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 112,201 shares of the company’s stock valued at $3,478,000 after buying an additional 19,552 shares during the last quarter. Revolve Wealth Partners LLC bought a new stake in Pinterest during the 4th quarter valued at $252,000. Finally, Farther Finance Advisors LLC raised its holdings in Pinterest by 642.8% during the 1st quarter. Farther Finance Advisors LLC now owns 9,404 shares of the company’s stock valued at $292,000 after buying an additional 8,138 shares during the last quarter. 88.81% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on PINS. Bank of America lowered their price objective on shares of Pinterest from $46.00 to $35.00 and set a “buy” rating on the stock in a research report on Wednesday, April 9th. KeyCorp lifted their target price on shares of Pinterest from $37.00 to $40.00 and gave the stock an “overweight” rating in a research note on Friday, May 9th. BMO Capital Markets reduced their price objective on shares of Pinterest from $46.00 to $40.00 and set an “outperform” rating for the company in a research note on Friday, May 9th. UBS Group reduced their price objective on shares of Pinterest from $50.00 to $39.00 and set a “buy” rating for the company in a research note on Friday, April 11th. Finally, TD Cowen reduced their price objective on shares of Pinterest from $46.00 to $40.00 and set a “buy” rating for the company in a research note on Tuesday, April 8th. Six equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $40.52.

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.