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 Pinterest stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $35.41, for a total value of $3,614,759.03. Following the transaction, the director directly owned 8,414 shares in the company, valued at approximately $297,939.74. The trade was 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 available through this hyperlink.

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

• 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 value 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 value of $3,554,530.06.
• On Wednesday, June 11th, Benjamin Silbermann sold 102,083 shares of Pinterest stock. The stock was sold at an average price of $34.81, for a total value 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 value 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 value 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 Price Performance

Shares of NYSE:PINS remained flat at $35.74 during midday trading on Friday. The stock had a trading volume of 4,177,615 shares, compared to its average volume of 11,049,742. Pinterest, Inc. has a 12 month low of $23.68 and a 12 month high of $44.06. The firm has a market capitalization of $24.24 billion, a PE ratio of 13.04, a price-to-earnings-growth ratio of 1.76 and a beta of 0.94. The stock's fifty day moving average is $32.11 and its 200 day moving average is $31.88.

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 the consensus estimate of $848.49 million. During the same period last year, the firm posted $0.17 EPS. The company's revenue was up 15.5% compared to the same quarter last year. Analysts forecast that Pinterest, Inc. will post 0.6 EPS for the current fiscal year.

Hedge Funds Weigh In On Pinterest

Several large investors have recently added to or reduced their stakes in the company. Revolve Wealth Partners LLC bought a new position in Pinterest in the fourth quarter worth $252,000. IFP Advisors Inc lifted its holdings in shares of Pinterest by 100.8% during the 4th quarter. IFP Advisors Inc now owns 4,817 shares of the company's stock worth $140,000 after acquiring an additional 2,418 shares during the period. Amalgamated Bank boosted its position in shares of Pinterest by 0.9% during the 4th quarter. Amalgamated Bank now owns 39,792 shares of the company's stock valued at $1,154,000 after acquiring an additional 372 shares in the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of Pinterest during the 4th quarter valued at about $1,926,000. Finally, US Bancorp DE increased its stake in Pinterest by 27.2% in the fourth quarter. US Bancorp DE now owns 23,698 shares of the company's stock valued at $687,000 after acquiring an additional 5,063 shares during the period. Institutional investors and hedge funds own 88.81% of the company's stock.

Analyst Ratings Changes

Several brokerages have issued reports on PINS. Oppenheimer boosted their target price on shares of Pinterest from $36.00 to $40.00 and gave the company an "outperform" rating in a research note on Friday, May 9th. JPMorgan Chase & Co. raised Pinterest from a "neutral" rating to an "overweight" rating and lifted their target price for the company from $35.00 to $40.00 in a research note on Tuesday, June 3rd. KeyCorp increased their price target on shares of Pinterest from $37.00 to $40.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. Citigroup restated a "buy" rating and set a $44.00 price target (up from $41.00) on shares of Pinterest in a report on Tuesday, June 24th. Finally, Benchmark dropped 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 analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $40.52.

Pinterest Company Profile

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.