Insider Selling: Pinterest (NYSE:PINS) Director Sells 46,875 Shares

Key Points

• Pinterest director Benjamin Silbermann sold 46,875 shares at an average price of $23.53, generating approximately $1.10 million. The transaction was conducted under a pre-arranged Rule 10b5-1 trading plan and follows a series of similarly sized sales since June.
• Pinterest shares fell 1.6% to $23.29, giving the company a market capitalization of about $13.05 billion. The stock trades below its 12-month high of $38.57 but above its 12-month low of $13.84.
• The company recently exceeded quarterly expectations, reporting adjusted EPS of $0.43 versus the $0.36 consensus and revenue of $1.18 billion, up 18.2% year over year. Analysts maintain a consensus “Hold” rating with an average price target of $27.90.

Pinterest, Inc. (NYSE:PINS - Get Free Report) Director Benjamin Silbermann sold 46,875 shares of Pinterest stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $23.53, for a total transaction of $1,102,968.75. The transaction was disclosed in a document filed with the SEC, which can be accessed 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, August 18th, Benjamin Silbermann sold 46,875 shares of Pinterest stock. The shares were sold at an average price of $23.40, for a total value of $1,096,875.00.
• On Tuesday, August 11th, Benjamin Silbermann sold 46,875 shares of Pinterest stock. The stock was sold at an average price of $23.88, for a total value of $1,119,375.00.
• On Tuesday, July 21st, Benjamin Silbermann sold 46,875 shares of Pinterest stock. The stock was sold at an average price of $22.54, for a total value of $1,056,562.50.
• On Tuesday, July 7th, Benjamin Silbermann sold 46,875 shares of Pinterest stock. The shares were sold at an average price of $22.63, for a total value of $1,060,781.25.
• 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 shares were 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 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 value of $960,937.50.

Pinterest Trading Down 1.6%

Shares of NYSE:PINS traded down $0.37 during mid-day trading on Wednesday, reaching $23.29. The stock had a trading volume of 10,389,930 shares, compared to its average volume of 17,175,129. The firm has a market cap of $13.05 billion, a PE ratio of 68.50, a price-to-earnings-growth ratio of 1.26 and a beta of 0.90. The firm has a 50 day simple moving average of $22.63 and a two-hundred day simple moving average of $20.45. The company has a current ratio of 3.81, a quick ratio of 3.81 and a debt-to-equity ratio of 0.34. Pinterest, Inc. has a twelve month low of $13.84 and a twelve month high of $38.57.

Pinterest (NYSE:PINS - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $0.43 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.36 by $0.07. The firm had revenue of $1.18 billion during the quarter, compared to analysts' expectations of $1.15 billion. Pinterest had a net margin of 5.46% and a return on equity of 7.49%. The business's revenue for the quarter was up 18.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.33 earnings per share. On average, research analysts predict that Pinterest, Inc. will post 0.62 EPS for the current fiscal year.

Institutional Trading of Pinterest

Hedge funds and other institutional investors have recently modified their holdings of the company. Norges Bank acquired a new position in shares of Pinterest during the fourth quarter worth about $357,945,000. California State Teachers Retirement System grew its stake in shares of Pinterest by 1,141.2% during the 2nd quarter. California State Teachers Retirement System now owns 11,161,820 shares of the company's stock worth $234,733,000 after acquiring an additional 10,262,547 shares in the last quarter. State Street Corp increased its stake in Pinterest by 52.6% in the 4th quarter. State Street Corp now owns 21,492,169 shares of the company's stock valued at $556,432,000 after buying an additional 7,412,213 shares during the last quarter. Victory Capital Management Inc. lifted its position in Pinterest by 30.5% during the 4th quarter. Victory Capital Management Inc. now owns 26,808,870 shares of the company's stock worth $694,082,000 after buying an additional 6,258,628 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its position in Pinterest by 271.1% during the 1st quarter. Renaissance Technologies LLC now owns 5,988,631 shares of the company's stock worth $109,831,000 after buying an additional 4,375,000 shares in the last quarter. Institutional investors and hedge funds own 88.81% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Guggenheim lifted their target price on Pinterest from $24.00 to $26.00 and gave the stock a "buy" rating in a report on Wednesday, August 5th. Evercore increased their price target on Pinterest from $27.00 to $29.00 and gave the stock an "in-line" rating in a report on Wednesday, August 5th. JPMorgan Chase & Co. raised their price target on Pinterest from $20.00 to $25.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 5th. Rosenblatt Securities lifted their price objective on Pinterest from $24.00 to $25.00 and gave the company a "neutral" rating in a report on Wednesday, August 5th. Finally, Royal Bank Of Canada boosted their price objective on Pinterest from $23.00 to $25.00 and gave the company a "sector perform" rating in a research report on Wednesday, August 5th. Seventeen research analysts have rated the stock with a Buy rating and nineteen have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $27.90.

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.

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