Pinterest, Inc. (NYSE:PINS) Director Sells $3,180,906.28 in Stock

Pinterest, Inc. (NYSE:PINS) Director Benjamin Silbermann sold 102,083 shares of Pinterest stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $31.16, for a total transaction of $3,180,906.28. Following the transaction, the director now owns 6,274 shares in the company, valued at approximately $195,497.84. The trade was a 94.21 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

Pinterest Price Performance

Shares of NYSE:PINS opened at $32.45 on Friday. The stock has a market capitalization of $22.01 billion, a price-to-earnings ratio of 12.06, a price-to-earnings-growth ratio of 1.95 and a beta of 1.02. The business’s fifty day moving average price is $34.39 and its two-hundred day moving average price is $32.28. Pinterest, Inc. has a fifty-two week low of $27.00 and a fifty-two week high of $45.19.

Pinterest (NYSE:PINS) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.63 by ($0.30). Pinterest had a net margin of 51.07% and a return on equity of 8.10%. Research analysts expect that Pinterest, Inc. will post 0.6 EPS for the current fiscal year.

Institutional Investors Weigh In On Pinterest

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Maverick Capital Ltd. grew its holdings in shares of Pinterest by 47.6% during the third quarter. Maverick Capital Ltd. now owns 57,180 shares of the company’s stock worth $1,851,000 after purchasing an additional 18,430 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec increased its position in Pinterest by 8.4% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,540,152 shares of the company’s stock valued at $49,855,000 after acquiring an additional 119,367 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Pinterest by 4.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 844,187 shares of the company’s stock worth $27,326,000 after acquiring an additional 32,539 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Pinterest by 2.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,252,996 shares of the company’s stock worth $137,669,000 after purchasing an additional 87,041 shares in the last quarter. Finally, Leibman Financial Services Inc. grew its stake in shares of Pinterest by 102.2% during the fourth quarter. Leibman Financial Services Inc. now owns 64,222 shares of the company’s stock valued at $1,862,000 after purchasing an additional 32,464 shares during the last quarter. 88.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on PINS shares. Wedbush upped their target price on Pinterest from $38.00 to $46.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Benchmark raised shares of Pinterest from a “hold” rating to a “buy” rating and set a $55.00 target price for the company in a research note on Friday, February 7th. Piper Sandler reaffirmed a “neutral” rating and issued a $41.00 price target (up from $36.00) on shares of Pinterest in a research note on Friday, February 7th. Roth Capital set a $32.00 target price on Pinterest in a research note on Monday, February 3rd. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $32.00 price target (down from $40.00) on shares of Pinterest in a research note on Monday, January 13th. Eight research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. According to data from MarketBeat.com, Pinterest presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.30.

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.