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 dated Tuesday, June 30th. The shares were sold at an average price of $21.45, for a total value of $1,005,468.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 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 stock was 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.
• 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 value of $960,937.50.

Pinterest Trading Up 0.8%

Shares of NYSE:PINS traded up $0.17 during mid-day trading on Thursday, hitting $22.06. The company had a trading volume of 8,210,355 shares, compared to its average volume of 19,097,330. The company has a debt-to-equity ratio of 0.34, a current ratio of 4.23 and a quick ratio of 4.23. Pinterest, Inc. has a one year low of $13.84 and a one year high of $39.93. The firm has a fifty day moving average price of $20.47 and a 200 day moving average price of $21.02. The company has a market capitalization of $12.35 billion, a PE ratio of 45.95, a price-to-earnings-growth ratio of 1.23 and a beta of 0.89.

Pinterest (NYSE:PINS) last issued its earnings results on Monday, May 4th. The company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.05. The business had revenue of $1.01 billion for the quarter, compared to analyst estimates of $965.84 million. Pinterest had a net margin of 7.64% and a return on equity of 8.26%. Pinterest’s revenue was up 17.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.23 earnings per share. As a group, research analysts forecast that Pinterest, Inc. will post 0.66 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Barclays upped their price target on shares of Pinterest from $25.00 to $27.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 5th. Piper Sandler reissued a “neutral” rating and issued a $26.00 price target (up from $21.00) on shares of Pinterest in a report on Tuesday, May 5th. Oppenheimer raised their target price on shares of Pinterest from $24.00 to $30.00 and gave the company an “outperform” rating in a research note on Tuesday, May 5th. Wall Street Zen upgraded shares of Pinterest from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Finally, Evercore set a $27.00 price objective on shares of Pinterest in a report on Tuesday, May 5th. Sixteen analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Pinterest has an average rating of “Hold” and an average target price of $27.40.

Institutional Investors Weigh In On Pinterest

Institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Pinterest by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 62,056,069 shares of the company’s stock worth $1,606,632,000 after purchasing an additional 1,069,646 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Pinterest by 15.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 27,809,693 shares of the company’s stock worth $719,994,000 after buying 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 fourth quarter. Victory Capital Management Inc. now owns 26,808,870 shares of the company’s stock worth $694,082,000 after acquiring an additional 6,258,628 shares during the last quarter. State Street Corp increased its stake in Pinterest by 52.6% during the 4th quarter. State Street Corp now owns 21,492,169 shares of the company’s stock valued at $556,432,000 after purchasing an additional 7,412,213 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in Pinterest by 10.7% in the 3rd quarter. Ameriprise Financial Inc. now owns 19,732,086 shares of the company’s stock worth $634,767,000 after acquiring an additional 1,913,668 shares during the last quarter. Hedge funds and other institutional investors own 88.81% of the company’s stock.

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.