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

Pinterest, Inc. (NYSE:PINS) Director Benjamin Silbermann sold 46,875 shares of Pinterest stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of $19.99, for a total value of $937,031.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 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 16th, Benjamin Silbermann sold 46,875 shares of Pinterest stock. The stock was sold at an average price of $21.15, for a total value 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 value of $1,020,937.50.
• 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 Up 6.7%

Shares of NYSE:PINS opened at $20.79 on Friday. The company has a market capitalization of $11.65 billion, a P/E ratio of 43.31, a P/E/G ratio of 1.11 and a beta of 0.92. Pinterest, Inc. has a 52-week low of $13.84 and a 52-week high of $39.93. 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 stock’s fifty day simple moving average is $20.37 and its 200-day simple moving average is $21.21.

Pinterest (NYSE:PINS) last announced its quarterly earnings data on Monday, May 4th. The company reported $0.27 earnings per share (EPS) for the quarter, beating 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 business had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $965.84 million. During the same quarter in the prior year, the firm posted $0.23 earnings per share. The company’s quarterly revenue was up 17.8% compared to the same quarter last year. As a group, equities research analysts forecast that Pinterest, Inc. will post 0.65 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Pinterest

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Revolve Wealth Partners LLC purchased a new position in Pinterest in the fourth quarter valued at about $252,000. Integrated Wealth Concepts LLC boosted its stake in shares of Pinterest by 5.9% during the 1st quarter. Integrated Wealth Concepts LLC now owns 10,943 shares of the company’s stock valued at $339,000 after buying an additional 607 shares during the last quarter. Empowered Funds LLC grew its position in shares of Pinterest by 45.6% during the first quarter. Empowered Funds LLC now owns 15,168 shares of the company’s stock worth $470,000 after buying an additional 4,748 shares in the last quarter. Sivia Capital Partners LLC increased its stake in shares of Pinterest by 39.5% in the second quarter. Sivia Capital Partners LLC now owns 9,347 shares of the company’s stock worth $335,000 after buying an additional 2,649 shares during the last quarter. Finally, Jump Financial LLC acquired a new stake in Pinterest in the second quarter valued at $696,000. 88.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on PINS shares. Guggenheim reissued a “buy” rating and set a $24.00 price objective on shares of Pinterest in a research note on Monday, June 15th. Piper Sandler reissued a “neutral” rating and set a $26.00 price target (up from $21.00) on shares of Pinterest in a research report on Tuesday, May 5th. Weiss Ratings lowered Pinterest from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, April 2nd. Argus cut Pinterest from a “buy” rating to a “hold” rating in a report on Monday, March 2nd. Finally, Robert W. Baird boosted their price objective on shares of Pinterest from $20.00 to $24.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 5th. Sixteen investment analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $27.40.

Pinterest Company Profile

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.