Benjamin Silbermann Sells 46,875 Shares of Pinterest (NYSE:PINS) Stock

Pinterest, Inc. (NYSE:PINS) Director Benjamin Silbermann sold 46,875 shares of the business’s stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $21.78, for a total transaction of $1,020,937.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Tuesday, June 2nd, Benjamin Silbermann sold 46,875 shares of Pinterest stock. The shares were sold at an average price of $20.50, for a total transaction of $960,937.50.

Pinterest Stock Down 1.0%

Shares of NYSE PINS opened at $21.55 on Friday. The firm has a market cap of $12.07 billion, a price-to-earnings ratio of 44.90, a price-to-earnings-growth ratio of 1.18 and a beta of 0.92. The company’s 50-day simple moving average is $19.94 and its 200-day simple moving average is $21.64. The company has a quick ratio of 4.23, a current ratio of 4.23 and a debt-to-equity ratio of 0.34. Pinterest, Inc. has a 52-week low of $13.84 and a 52-week high of $39.93.

Pinterest (NYSE:PINS) last released its quarterly earnings results on Monday, May 4th. The company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.05. Pinterest had a net margin of 7.64% and a return on equity of 8.26%. The firm had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $965.84 million. During the same quarter in the prior year, the firm earned $0.23 EPS. The company’s revenue for the quarter was up 17.8% on a year-over-year basis. Equities analysts predict that Pinterest, Inc. will post 0.68 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Morgan Stanley raised their target price on Pinterest from $27.00 to $30.00 and gave the company an “overweight” rating in a research report on Tuesday, May 5th. Wall Street Zen raised Pinterest from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $24.00 price objective on shares of Pinterest in a report on Tuesday, May 5th. Oppenheimer lifted their target price on shares of Pinterest from $24.00 to $30.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 5th. Finally, Bank of America reaffirmed a “neutral” rating and set a $19.00 target price (down from $39.00) on shares of Pinterest in a report on Friday, February 13th. Sixteen research analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $27.40.

Hedge Funds Weigh In On Pinterest

A number of institutional investors have recently added to or reduced their stakes in the stock. Elevated Capital Advisors LLC acquired a new stake in shares of Pinterest in the 4th quarter worth $26,000. Caitong International Asset Management Co. Ltd boosted its position in shares of Pinterest by 2,017.3% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,101 shares of the company’s stock valued at $29,000 after acquiring an additional 1,049 shares during the last quarter. Addison Advisors LLC grew its holdings in shares of Pinterest by 727.3% in the fourth quarter. Addison Advisors LLC now owns 1,365 shares of the company’s stock valued at $35,000 after purchasing an additional 1,200 shares during the period. Garner Asset Management Corp acquired a new stake in Pinterest during the fourth quarter worth about $36,000. Finally, Summit Securities Group LLC purchased a new position in Pinterest during the first quarter worth about $43,000. Hedge funds and other institutional investors own 88.81% of the company’s stock.

About Pinterest

Pinterest, Inc operates a visual discovery platform that helps users find inspiration and ideas for projects ranging from home design and fashion to cooking and travel. Users create and curate “Pins” — images or videos linked to content — organized on thematic boards. The service is available through its website and mobile applications and emphasizes personalized recommendations and visual search to surface relevant content based on user interests.

The company’s primary revenue model is advertising, offering promoted content formats that integrate into user feeds and search results.