Insider Selling: Pinterest, Inc. (NYSE:PINS) Director Sells 408,332 Shares of Stock

Pinterest, Inc. (NYSE:PINS) Director Benjamin Silbermann sold 408,332 shares of the firm’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 completion of the sale, the director now directly owns 6,274 shares in the company, valued at approximately $208,045.84. The trade was a 98.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through 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 stock was 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 stock was 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 stock was sold at an average price of $31.16, for a total value of $3,180,906.28.

Pinterest Stock Down 1.9%

Shares of PINS opened at $32.28 on Friday. The business’s 50 day moving average is $28.72 and its two-hundred day moving average is $31.23. Pinterest, Inc. has a 52-week low of $23.68 and a 52-week high of $45.19. The firm has a market cap of $21.89 billion, a price-to-earnings ratio of 12.00, a PEG ratio of 1.95 and a beta of 0.83.

Pinterest (NYSE:PINS) 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 net margin of 51.07% and a return on equity of 8.10%. The business had revenue of $854.99 million during the quarter, compared to analyst estimates of $848.49 million. During the same period in the previous year, the company earned $0.17 earnings per share. The business’s revenue for the quarter was up 15.5% on a year-over-year basis. On average, equities analysts expect that Pinterest, Inc. will post 0.6 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Pinterest

Institutional investors have recently made changes to their positions in the business. Alliancebernstein L.P. increased its holdings in shares of Pinterest by 61.6% in the 1st quarter. Alliancebernstein L.P. now owns 938,008 shares of the company’s stock valued at $29,078,000 after acquiring an additional 357,581 shares during the last quarter. Banque Transatlantique SA bought a new stake in shares of Pinterest in the 1st quarter valued at approximately $455,000. AQR Capital Management LLC increased its holdings in shares of Pinterest by 31.3% in the 1st quarter. AQR Capital Management LLC now owns 6,267,577 shares of the company’s stock valued at $189,876,000 after acquiring an additional 1,495,473 shares during the last quarter. Amundi increased its holdings in shares of Pinterest by 618.9% in the 1st quarter. Amundi now owns 14,254,741 shares of the company’s stock valued at $441,897,000 after acquiring an additional 12,271,958 shares during the last quarter. Finally, 14B Captial Management LP increased its holdings in shares of Pinterest by 2.3% in the 1st quarter. 14B Captial Management LP now owns 746,000 shares of the company’s stock valued at $23,126,000 after acquiring an additional 17,000 shares during the last quarter. 88.81% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on PINS shares. Citigroup raised their price target on Pinterest from $38.00 to $41.00 and gave the stock a “buy” rating in a research note on Friday, May 9th. TD Cowen reduced their price objective on Pinterest from $46.00 to $40.00 and set a “buy” rating on the stock in a research note on Tuesday, April 8th. Sanford C. Bernstein raised Pinterest from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $34.00 to $47.00 in a research note on Friday, February 7th. JPMorgan Chase & Co. lifted their price objective on Pinterest from $30.00 to $35.00 and gave the company a “neutral” rating in a research note on Friday, May 9th. Finally, Morgan Stanley lifted their price objective on Pinterest from $28.00 to $37.00 and gave the company an “equal weight” rating in a research note on Friday, May 9th. Seven investment analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price 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.