Benjamin Silbermann Sells 46,875 Shares of Pinterest (NYSE:PINS) Stock

Pinterest, Inc. (NYSE:PINS) Director Benjamin Silbermann sold 46,875 shares of the business’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $21.15, for a total transaction of $991,406.25. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• 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 transaction of $1,020,937.50.
• On Tuesday, June 2nd, Benjamin Silbermann sold 46,875 shares of Pinterest stock. The stock was sold at an average price of $20.50, for a total transaction of $960,937.50.

Pinterest Stock Performance

Shares of PINS stock opened at $20.29 on Friday. The company has a current ratio of 4.23, a quick ratio of 4.23 and a debt-to-equity ratio of 0.34. The firm has a fifty day moving average price of $20.19 and a 200 day moving average price of $21.47. The company has a market cap of $11.37 billion, a P/E ratio of 42.27, a PEG ratio of 1.16 and a beta of 0.92. Pinterest, Inc. has a 12 month low of $13.84 and a 12 month high of $39.93.

Pinterest (NYSE:PINS) last posted its quarterly earnings results on Monday, May 4th. The company reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.05. The company had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $965.84 million. Pinterest had a return on equity of 8.26% and a net margin of 7.64%.Pinterest’s quarterly revenue was up 17.8% on a year-over-year basis. During the same period last year, the firm earned $0.23 earnings per share. Sell-side analysts predict that Pinterest, Inc. will post 0.65 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on PINS. Mizuho boosted their target price on Pinterest from $28.00 to $30.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 5th. The Goldman Sachs Group reiterated a “buy” rating and issued a $28.00 price target on shares of Pinterest in a research note on Tuesday, May 5th. Stifel Nicolaus raised their price objective on shares of Pinterest from $25.00 to $27.00 and gave the stock a “buy” rating in a report on Tuesday, May 5th. Piper Sandler restated a “neutral” rating and set a $26.00 price objective (up from $21.00) on shares of Pinterest in a research report on Tuesday, May 5th. Finally, TD Cowen upped their target price on shares of Pinterest from $36.00 to $38.00 and gave the company a “buy” rating in a report on Tuesday, May 5th. Sixteen investment analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Pinterest currently has a consensus rating of “Hold” and a consensus price target of $27.40.

Institutional Trading of Pinterest

Institutional investors and hedge funds have recently made changes to their positions in the company. Glenmede Trust Co. NA purchased a new position in Pinterest during the 1st quarter worth approximately $373,000. Groupe la Francaise lifted its stake in Pinterest by 16.9% in the first quarter. Groupe la Francaise now owns 481,586 shares of the company’s stock valued at $8,817,000 after buying an additional 69,562 shares during the last quarter. Boothe Investment Group Inc. purchased a new stake in Pinterest in the first quarter valued at approximately $11,856,000. Bank of America Corp DE boosted its holdings in shares of Pinterest by 15.4% in the first quarter. Bank of America Corp DE now owns 5,848,116 shares of the company’s stock valued at $107,254,000 after acquiring an additional 779,998 shares during the period. Finally, Edgestream Partners L.P. boosted its holdings in shares of Pinterest by 32.7% in the first quarter. Edgestream Partners L.P. now owns 403,553 shares of the company’s stock valued at $7,401,000 after acquiring an additional 99,395 shares during the period. 88.81% of the stock is 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.