Pinterest, Inc. (NYSE:PINS) Director Sells $13,540,289.12 in Stock

Pinterest, Inc. (NYSE:PINS) Director Benjamin Silbermann sold 408,332 shares of the business’s stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $33.16, for a total value of $13,540,289.12. Following the sale, the director now directly owns 6,274 shares of the company’s stock, valued at $208,045.84. This represents a 98.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

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

• On Wednesday, April 2nd, Benjamin Silbermann sold 102,083 shares of Pinterest stock. The shares were sold at an average price of $31.27, for a total value of $3,192,135.41.
• On Wednesday, March 26th, Benjamin Silbermann sold 102,083 shares of Pinterest stock. The shares were sold at an average price of $33.71, for a total value of $3,441,217.93.
• On Wednesday, March 19th, Benjamin Silbermann sold 102,083 shares of Pinterest stock. The shares were sold at an average price of $31.16, for a total value of $3,180,906.28.

Pinterest Stock Up 1.0%

NYSE:PINS opened at $32.56 on Friday. Pinterest, Inc. has a twelve month low of $23.68 and a twelve month high of $45.19. The business has a 50 day moving average price of $28.74 and a two-hundred day moving average price of $31.22. The company has a market cap of $22.08 billion, a P/E ratio of 12.10, a price-to-earnings-growth ratio of 1.95 and a beta of 0.83.

Pinterest (NYSE:PINS) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.23 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.02). The company had revenue of $854.99 million during the quarter, compared to analyst estimates of $848.49 million. Pinterest had a net margin of 51.07% and a return on equity of 8.10%. The company’s quarterly revenue was up 15.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.17 EPS. As a group, analysts anticipate that Pinterest, Inc. will post 0.6 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Pinterest

Large investors have recently made changes to their positions in the stock. Janney Capital Management LLC acquired a new stake in shares of Pinterest in the 4th quarter valued at approximately $4,289,000. Jones Financial Companies Lllp boosted its holdings in shares of Pinterest by 91.3% in the 4th quarter. Jones Financial Companies Lllp now owns 24,993 shares of the company’s stock valued at $725,000 after buying an additional 11,925 shares during the last quarter. Swedbank AB boosted its holdings in shares of Pinterest by 2,108.7% in the 4th quarter. Swedbank AB now owns 1,315,052 shares of the company’s stock valued at $38,137,000 after buying an additional 1,255,513 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. boosted its holdings in shares of Pinterest by 699.4% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 296,033 shares of the company’s stock valued at $8,585,000 after buying an additional 259,002 shares during the last quarter. Finally, Pacer Advisors Inc. raised its stake in Pinterest by 94.9% in the 4th quarter. Pacer Advisors Inc. now owns 53,033 shares of the company’s stock valued at $1,538,000 after acquiring an additional 25,828 shares during the period. Institutional investors and hedge funds own 88.81% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on PINS shares. UBS Group lowered their price target on Pinterest from $50.00 to $39.00 and set a “buy” rating for the company in a research note on Friday, April 11th. Benchmark lowered their price target on Pinterest from $55.00 to $45.00 and set a “buy” rating for the company in a research note on Tuesday, May 6th. Raymond James cut Pinterest from an “overweight” rating to a “market perform” rating in a research note on Monday, April 7th. Rosenblatt Securities upped their price target on Pinterest from $46.00 to $51.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Finally, JPMorgan Chase & Co. increased their target price on Pinterest from $30.00 to $35.00 and gave the stock a “neutral” rating in a research note on Friday, May 9th. Seven research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $40.26.

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.