Benjamin Silbermann Sells 102,083 Shares of Pinterest, Inc. (NYSE:PINS) Stock

Pinterest, Inc. (NYSE:PINS - Get Free Report) Director Benjamin Silbermann sold 102,083 shares of the stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $34.81, for a total transaction of $3,553,509.23. Following the sale, the director now owns 8,414 shares in the company, valued at approximately $292,891.34. This trade represents 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 link.

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

• On Wednesday, June 4th, Benjamin Silbermann sold 102,083 shares of Pinterest stock. The stock was 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 stock was 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 shares were 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 shares were sold at an average price of $31.27, for a total transaction 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 transaction 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 transaction of $3,180,906.28.

Pinterest Trading Down 2.1%

Shares of NYSE:PINS traded down $0.73 during midday trading on Thursday, hitting $34.02. The stock had a trading volume of 6,298,066 shares, compared to its average volume of 10,884,971. The company has a market capitalization of $23.07 billion, a PE ratio of 12.65, a P/E/G ratio of 1.95 and a beta of 0.91. The stock has a 50 day moving average price of $29.12 and a two-hundred day moving average price of $31.45. Pinterest, Inc. has a 1 year low of $23.68 and a 1 year high of $45.19.

Pinterest (NYSE:PINS - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.23 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.02). Pinterest had a net margin of 51.07% and a return on equity of 8.10%. The company had revenue of $854.99 million during the quarter, compared to analyst estimates of $848.49 million. During the same quarter last year, the business earned $0.17 EPS. The firm's revenue for the quarter was up 15.5% on a year-over-year basis. As a group, equities analysts expect that Pinterest, Inc. will post 0.6 EPS for the current year.

Analyst Upgrades and Downgrades

PINS has been the topic of a number of recent analyst reports. Barclays dropped their target price on shares of Pinterest from $42.00 to $38.00 and set an "equal weight" rating on the stock in a research report on Friday, May 9th. The Goldman Sachs Group dropped their target price on shares of Pinterest from $47.00 to $40.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Benchmark dropped their target price on shares of Pinterest from $55.00 to $45.00 and set a "buy" rating on the stock in a research report on Tuesday, May 6th. Citigroup increased their target price on shares of Pinterest from $38.00 to $41.00 and gave the company a "buy" rating in a research report on Friday, May 9th. Finally, Wedbush reaffirmed an "outperform" rating and issued a $40.00 target price (up from $38.00) on shares of Pinterest in a research report on Friday, May 9th. Six equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. According to data from MarketBeat.com, Pinterest presently has a consensus rating of "Moderate Buy" and an average price target of $40.42.

Hedge Funds Weigh In On Pinterest

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PINS. Price T Rowe Associates Inc. MD raised its position in Pinterest by 104.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 25,432,141 shares of the company's stock worth $737,533,000 after acquiring an additional 12,986,310 shares during the last quarter. Norges Bank acquired a new position in Pinterest during the fourth quarter worth about $358,205,000. Amundi raised its position in shares of Pinterest by 618.9% in the first quarter. Amundi now owns 14,254,741 shares of the company's stock valued at $441,897,000 after buying an additional 12,271,958 shares during the last quarter. Marshall Wace LLP raised its position in shares of Pinterest by 134.1% in the fourth quarter. Marshall Wace LLP now owns 10,701,783 shares of the company's stock valued at $310,352,000 after buying an additional 6,129,985 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its position in shares of Pinterest by 49.7% in the fourth quarter. Ameriprise Financial Inc. now owns 13,635,800 shares of the company's stock valued at $395,441,000 after buying an additional 4,527,902 shares during the last quarter. Institutional investors and hedge funds own 88.81% of the company's stock.

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.