Pinterest (NYSE:PINS) Director Sells $1,060,781.25 in Stock

Pinterest, Inc. (NYSE:PINS) Director Benjamin Silbermann sold 46,875 shares of the company’s stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $22.63, for a total value of $1,060,781.25. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 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 30th, Benjamin Silbermann sold 46,875 shares of Pinterest stock. The shares were sold at an average price of $21.45, for a total value of $1,005,468.75.
• On Tuesday, June 23rd, Benjamin Silbermann sold 46,875 shares of Pinterest stock. The stock was sold at an average price of $19.99, for a total value of $937,031.25.
• On Tuesday, June 16th, Benjamin Silbermann sold 46,875 shares of Pinterest stock. The shares were sold at an average price of $21.15, for a total transaction of $991,406.25.
• On Tuesday, June 9th, Benjamin Silbermann sold 46,875 shares of Pinterest stock. The stock was sold at an average price of $21.78, for a total transaction of $1,020,937.50.
• On Tuesday, June 2nd, Benjamin Silbermann sold 46,875 shares of Pinterest stock. The stock was sold at an average price of $20.50, for a total transaction of $960,937.50.

Pinterest Stock Down 0.7%

NYSE PINS traded down $0.17 on Friday, hitting $22.53. 9,855,983 shares of the stock were exchanged, compared to its average volume of 14,842,024. Pinterest, Inc. has a fifty-two week low of $13.84 and a fifty-two week high of $39.93. The company has a 50-day moving average price of $20.76 and a 200-day moving average price of $20.91. The company has a quick ratio of 4.23, a current ratio of 4.23 and a debt-to-equity ratio of 0.34. The company has a market cap of $12.62 billion, a PE ratio of 46.94, a PEG ratio of 1.27 and a beta of 0.89.

Pinterest (NYSE:PINS) last announced its quarterly earnings data on Monday, May 4th. The company reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.05. The business had revenue of $1.01 billion for the quarter, compared to analyst estimates of $965.84 million. Pinterest had a net margin of 7.64% and a return on equity of 8.26%. The company’s revenue was up 17.8% on a year-over-year basis. During the same period last year, the business earned $0.23 EPS. Sell-side analysts anticipate that Pinterest, Inc. will post 0.66 EPS for the current fiscal year.

Institutional Trading of Pinterest

Several institutional investors and hedge funds have recently bought and sold shares of PINS. Elevated Capital Advisors LLC acquired a new position in Pinterest in the fourth quarter valued at $26,000. Caitong International Asset Management Co. Ltd grew its holdings in shares of Pinterest by 2,017.3% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,101 shares of the company’s stock worth $29,000 after buying an additional 1,049 shares during the last quarter. Addison Advisors LLC increased its position in Pinterest by 727.3% in the 4th quarter. Addison Advisors LLC now owns 1,365 shares of the company’s stock valued at $35,000 after acquiring an additional 1,200 shares during the period. Garner Asset Management Corp purchased a new stake in Pinterest during the 4th quarter valued at approximately $36,000. Finally, Summit Securities Group LLC acquired a new stake in Pinterest during the 1st quarter worth approximately $43,000. Hedge funds and other institutional investors own 88.81% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Weiss Ratings restated a “sell (d+)” rating on shares of Pinterest in a research note on Tuesday, June 30th. Piper Sandler reiterated a “neutral” rating and issued a $26.00 price objective (up from $21.00) on shares of Pinterest in a report on Tuesday, May 5th. Rothschild & Co Redburn set a $23.00 target price on Pinterest and gave the stock a “neutral” rating in a research report on Monday, April 27th. Wall Street Zen cut Pinterest from a “buy” rating to a “hold” rating in a research note on Saturday, July 4th. Finally, Benchmark lowered their price target on Pinterest from $34.00 to $33.00 and set a “buy” rating for the company in a report on Thursday, April 30th. Seventeen 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. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $27.42.

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.