Insider Selling: Pinterest, Inc. (NYSE:PINS) Director Sells $3,441,217.93 in Stock

Pinterest, Inc. (NYSE:PINS) Director Benjamin Silbermann sold 102,083 shares of the stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $33.71, for a total value of $3,441,217.93. Following the transaction, the director now directly owns 6,274 shares in the company, valued at approximately $211,496.54. This represents a 94.21 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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

• 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 Performance

Shares of NYSE:PINS opened at $31.49 on Friday. The stock has a market capitalization of $21.35 billion, a price-to-earnings ratio of 11.70, a PEG ratio of 1.95 and a beta of 1.02. Pinterest, Inc. has a 1-year low of $27.00 and a 1-year high of $45.19. The company has a 50 day moving average price of $34.66 and a 200 day moving average price of $32.39.

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

Institutional Trading of Pinterest

A number of hedge funds have recently modified their holdings of the business. Maverick Capital Ltd. grew its stake in Pinterest by 47.6% during the 3rd quarter. Maverick Capital Ltd. now owns 57,180 shares of the company’s stock valued at $1,851,000 after acquiring an additional 18,430 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec grew its position in Pinterest by 8.4% during the third 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 purchasing an additional 119,367 shares in the last quarter. Leibman Financial Services Inc. increased its stake in Pinterest by 102.2% in the 4th quarter. Leibman Financial Services Inc. now owns 64,222 shares of the company’s stock valued at $1,862,000 after buying an additional 32,464 shares during the period. Janney Capital Management LLC purchased a new stake in Pinterest in the 4th quarter worth approximately $4,289,000. Finally, Jones Financial Companies Lllp boosted its stake in shares of Pinterest by 91.3% during 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 period. Hedge funds and other institutional investors own 88.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on PINS shares. Oppenheimer boosted their target price on shares of Pinterest from $40.00 to $50.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Rosenblatt Securities increased their price objective on shares of Pinterest from $46.00 to $51.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Piper Sandler restated a “neutral” rating and issued a $41.00 target price (up from $36.00) on shares of Pinterest in a research note on Friday, February 7th. Monness Crespi & Hardt upgraded Pinterest from a “neutral” rating to a “buy” rating and set a $40.00 price target on the stock in a research report on Friday, January 10th. Finally, KeyCorp cut their price target on Pinterest from $46.00 to $41.00 and set an “overweight” rating on the stock in a report on Tuesday, March 18th. Seven investment analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $43.33.

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.