Pinterest, Inc. (NYSE:PINS) Director Sells $3,623,946.50 in 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, July 9th. The stock was sold at an average price of $35.50, for a total transaction of $3,623,946.50. Following the completion of the sale, the director owned 8,414 shares of the company's stock, valued at approximately $298,697. The trade was a 92.39% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Wednesday, July 2nd, Benjamin Silbermann sold 102,083 shares of Pinterest stock. The shares were sold at an average price of $35.41, for a total transaction of $3,614,759.03.
• On Wednesday, June 25th, Benjamin Silbermann sold 102,083 shares of Pinterest stock. The shares were sold at an average price of $35.99, for a total transaction of $3,673,967.17.
• On Wednesday, June 18th, Benjamin Silbermann sold 102,083 shares of Pinterest stock. The shares were sold at an average price of $34.82, for a total transaction of $3,554,530.06.
• On Wednesday, June 11th, Benjamin Silbermann sold 102,083 shares of Pinterest stock. The shares were sold at an average price of $34.81, for a total transaction of $3,553,509.23.
• On Wednesday, June 4th, Benjamin Silbermann sold 102,083 shares of Pinterest stock. The shares were 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 shares were 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 shares were 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.

Pinterest Price Performance

Shares of PINS stock traded down $0.35 during trading hours on Friday, reaching $35.45. 4,121,036 shares of the company were exchanged, compared to its average volume of 11,078,117. Pinterest, Inc. has a fifty-two week low of $23.68 and a fifty-two week high of $42.20. The stock's fifty day moving average is $33.27 and its two-hundred day moving average is $32.15. The company has a market cap of $24.04 billion, a price-to-earnings ratio of 12.94, a P/E/G ratio of 1.75 and a beta of 0.94.

Pinterest (NYSE:PINS - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $0.23 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.25 by ($0.02). Pinterest had a return on equity of 8.13% and a net margin of 50.41%. The company had revenue of $854.99 million for the quarter, compared to analyst estimates of $848.49 million. During the same quarter in the previous year, the company posted $0.17 earnings per share. Pinterest's revenue for the quarter was up 15.5% on a year-over-year basis. On average, research analysts anticipate that Pinterest, Inc. will post 0.6 earnings per share for the current year.

Wall Street Analyst Weigh In

PINS has been the topic of a number of research analyst reports. UBS Group lowered their target price on shares of Pinterest from $50.00 to $39.00 and set a "buy" rating on the stock in a research note on Friday, April 11th. Wells Fargo & Company set a $42.00 target price on shares of Pinterest and gave the company an "overweight" rating in a research note on Tuesday, July 1st. Guggenheim lowered their target price on shares of Pinterest from $40.00 to $39.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. Morgan Stanley raised their target price on shares of Pinterest from $28.00 to $37.00 and gave the company an "equal weight" rating in a research note on Friday, May 9th. Finally, Monness Crespi & Hardt lowered their target price on shares of Pinterest from $50.00 to $40.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. Six investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $40.52.

Institutional Investors Weigh In On Pinterest

A number of institutional investors and hedge funds have recently modified their holdings of the business. Riverpark Capital Management LLC raised its stake in shares of Pinterest by 1.2% during the first quarter. Riverpark Capital Management LLC now owns 31,825 shares of the company's stock worth $987,000 after buying an additional 377 shares during the last quarter. Smartleaf Asset Management LLC raised its stake in shares of Pinterest by 18.6% during the first quarter. Smartleaf Asset Management LLC now owns 3,040 shares of the company's stock worth $96,000 after buying an additional 476 shares during the last quarter. Redwood Investment Management LLC raised its stake in shares of Pinterest by 3.2% during the fourth quarter. Redwood Investment Management LLC now owns 15,951 shares of the company's stock worth $463,000 after buying an additional 495 shares during the last quarter. NorthRock Partners LLC raised its stake in shares of Pinterest by 4.7% during the first quarter. NorthRock Partners LLC now owns 11,246 shares of the company's stock worth $349,000 after buying an additional 502 shares during the last quarter. Finally, Brooklyn Investment Group raised its stake in shares of Pinterest by 8.9% during the first quarter. Brooklyn Investment Group now owns 6,743 shares of the company's stock worth $209,000 after buying an additional 552 shares during the last quarter. 88.81% of the stock is owned by institutional investors.

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.