Benjamin Silbermann Sells 93,750 Shares of Pinterest (NYSE:PINS) Stock

Pinterest, Inc. (NYSE:PINS) Director Benjamin Silbermann sold 93,750 shares of the business’s stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $21.43, for a total value of $2,009,062.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Tuesday, August 25th, Benjamin Silbermann sold 46,875 shares of Pinterest stock. The shares were sold at an average price of $23.53, for a total transaction of $1,102,968.75.
• On Tuesday, August 18th, Benjamin Silbermann sold 46,875 shares of Pinterest stock. The shares were sold at an average price of $23.40, for a total transaction of $1,096,875.00.
• On Tuesday, August 11th, Benjamin Silbermann sold 46,875 shares of Pinterest stock. The shares were sold at an average price of $23.88, for a total transaction of $1,119,375.00.
• On Tuesday, July 21st, Benjamin Silbermann sold 46,875 shares of Pinterest stock. The shares were sold at an average price of $22.54, for a total value of $1,056,562.50.
• On Tuesday, July 7th, Benjamin Silbermann sold 46,875 shares of Pinterest stock. The stock was sold at an average price of $22.63, for a total value of $1,060,781.25.
• On Tuesday, June 30th, Benjamin Silbermann sold 46,875 shares of Pinterest stock. The shares were sold at an average price of $21.45, for a total value of $1,005,468.75.
• On Tuesday, June 23rd, Benjamin Silbermann sold 46,875 shares of Pinterest stock. The stock was sold at an average price of $19.99, for a total value of $937,031.25.
• On Tuesday, June 16th, Benjamin Silbermann sold 46,875 shares of Pinterest stock. The shares were sold at an average price of $21.15, for a total value of $991,406.25.
• On Tuesday, June 9th, Benjamin Silbermann sold 46,875 shares of Pinterest stock. The shares were sold at an average price of $21.78, for a total value of $1,020,937.50.

Pinterest Trading Down 1.7%

Shares of NYSE PINS opened at $20.86 on Friday. The firm has a 50-day moving average of $22.93 and a 200 day moving average of $20.60. Pinterest, Inc. has a 1 year low of $13.84 and a 1 year high of $38.57. The stock has a market cap of $11.68 billion, a P/E ratio of 61.35, a price-to-earnings-growth ratio of 1.39 and a beta of 0.90. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.81 and a quick ratio of 3.81.

Pinterest (NYSE:PINS) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.07. Pinterest had a return on equity of 7.49% and a net margin of 5.46%.The company had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter in the prior year, the business posted $0.33 EPS. The firm’s quarterly revenue was up 18.2% compared to the same quarter last year. As a group, sell-side analysts expect that Pinterest, Inc. will post 0.58 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently commented on PINS. Weiss Ratings upgraded Pinterest from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, July 28th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $30.00 target price on shares of Pinterest in a report on Wednesday, August 5th. Wall Street Zen upgraded Pinterest from a “hold” rating to a “buy” rating in a research note on Sunday, August 9th. Jefferies Financial Group raised Pinterest from a “hold” rating to a “buy” rating in a report on Monday. Finally, Susquehanna restated a “positive” rating on shares of Pinterest in a research report on Wednesday, August 5th. Eighteen research analysts have rated the stock with a Buy rating and nineteen have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $27.90.

Institutional Investors Weigh In On Pinterest

Hedge funds have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD increased its position in Pinterest by 15.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 27,809,693 shares of the company’s stock worth $719,994,000 after purchasing an additional 3,669,476 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of Pinterest by 30.5% in the 4th quarter. Victory Capital Management Inc. now owns 26,808,870 shares of the company’s stock worth $694,082,000 after buying an additional 6,258,628 shares in the last quarter. State Street Corp grew its stake in shares of Pinterest by 52.6% in the 4th quarter. State Street Corp now owns 21,492,169 shares of the company’s stock worth $556,432,000 after buying an additional 7,412,213 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in shares of Pinterest by 15.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 17,818,418 shares of the company’s stock worth $638,969,000 after buying an additional 2,319,964 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Pinterest in the 4th quarter worth about $357,945,000. 88.81% of the stock is currently owned by hedge funds and other institutional investors.

About Pinterest

Pinterest, Inc operates a visual discovery platform that helps users find inspiration and ideas for projects ranging from home design and fashion to cooking and travel. Users create and curate “Pins” — images or videos linked to content — organized on thematic boards. The service is available through its website and mobile applications and emphasizes personalized recommendations and visual search to surface relevant content based on user interests.

The company’s primary revenue model is advertising, offering promoted content formats that integrate into user feeds and search results.