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

Pinterest, Inc. (NYSE:PINS - Get Free Report) Director Benjamin Silbermann sold 102,083 shares of the company's stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $36.01, for a total transaction of $3,676,008.83. Following the sale, the director owned 8,414 shares of the company's stock, valued at $302,988.14. This trade represents a 92.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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

• On Wednesday, July 9th, Benjamin Silbermann sold 102,083 shares of Pinterest stock. The stock was sold at an average price of $35.50, for a total transaction of $3,623,946.50.
• On Wednesday, July 2nd, Benjamin Silbermann sold 102,083 shares of Pinterest stock. The stock was 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 stock was 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 stock was 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 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 stock was sold at an average price of $33.16, for a total transaction of $13,540,289.12.

Pinterest Trading Up 3.2%

Shares of NYSE PINS traded up $1.16 during midday trading on Friday, hitting $37.24. The company's stock had a trading volume of 11,532,408 shares, compared to its average volume of 11,086,834. The stock has a fifty day moving average price of $34.13 and a 200 day moving average price of $32.38. Pinterest, Inc. has a one year low of $23.68 and a one year high of $42.02. The firm has a market capitalization of $25.26 billion, a price-to-earnings ratio of 13.59, a P/E/G ratio of 1.83 and a beta of 0.94.

Pinterest (NYSE:PINS - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.23 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 during the quarter, compared to analysts' expectations of $848.49 million. During the same period in the prior year, the firm earned $0.17 EPS. Pinterest's quarterly revenue was up 15.5% on a year-over-year basis. On average, equities research analysts predict that Pinterest, Inc. will post 0.6 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Pinterest

Hedge funds have recently made changes to their positions in the business. Ninety One UK Ltd raised its holdings in Pinterest by 11.0% during the 2nd quarter. Ninety One UK Ltd now owns 6,689,112 shares of the company's stock valued at $239,872,000 after buying an additional 661,757 shares during the last quarter. PFG Investments LLC raised its holdings in Pinterest by 8.7% in the 2nd quarter. PFG Investments LLC now owns 10,384 shares of the company's stock worth $372,000 after purchasing an additional 830 shares in the last quarter. Truist Financial Corp raised its holdings in Pinterest by 15.6% in the 2nd quarter. Truist Financial Corp now owns 98,363 shares of the company's stock worth $3,527,000 after purchasing an additional 13,267 shares in the last quarter. Park Place Capital Corp bought a new position in Pinterest in the 2nd quarter worth $70,000. Finally, Janney Montgomery Scott LLC raised its holdings in Pinterest by 15.8% in the 2nd quarter. Janney Montgomery Scott LLC now owns 103,057 shares of the company's stock worth $3,696,000 after purchasing an additional 14,023 shares in the last quarter. 88.81% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

PINS has been the topic of several research reports. KeyCorp boosted their price objective on shares of Pinterest from $40.00 to $45.00 and gave the company an "overweight" rating in a research report on Thursday. Guggenheim lowered their price target 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. Citigroup reiterated a "buy" rating and issued a $44.00 price target (up from $41.00) on shares of Pinterest in a research note on Tuesday, June 24th. Wedbush lifted their price target on shares of Pinterest from $40.00 to $42.00 and gave the company an "outperform" rating in a research note on Thursday. Finally, Benchmark lowered their price objective on shares of Pinterest from $55.00 to $45.00 and set a "buy" rating on the stock in a research note on Tuesday, May 6th. Six equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. Based on data from MarketBeat, Pinterest presently has a consensus rating of "Moderate Buy" and an average target price of $41.19.

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.