Pinterest, Inc. (NYSE:PINS) Chairman Sells $3,571,500.00 in Stock

Pinterest, Inc. (NYSE:PINSGet Rating) Chairman Benjamin Silbermann sold 150,000 shares of the company’s stock in a transaction that occurred on Monday, November 21st. The stock was sold at an average price of $23.81, for a total transaction of $3,571,500.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

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

  • On Wednesday, November 23rd, Benjamin Silbermann sold 150,000 shares of Pinterest stock. The stock was sold at an average price of $24.95, for a total transaction of $3,742,500.00.
  • On Friday, November 18th, Benjamin Silbermann sold 150,000 shares of Pinterest stock. The stock was sold at an average price of $24.33, for a total value of $3,649,500.00.
  • On Wednesday, November 16th, Benjamin Silbermann sold 123,578 shares of Pinterest stock. The stock was sold at an average price of $25.09, for a total value of $3,100,572.02.
  • On Monday, November 14th, Benjamin Silbermann sold 150,000 shares of Pinterest stock. The stock was sold at an average price of $24.50, for a total value of $3,675,000.00.

Pinterest Stock Performance

PINS opened at $25.03 on Thursday. The business’s fifty day moving average is $23.62 and its two-hundred day moving average is $21.78. The company has a market cap of $16.98 billion, a price-to-earnings ratio of 357.62 and a beta of 0.99. Pinterest, Inc. has a one year low of $16.14 and a one year high of $43.24.

Institutional Trading of Pinterest

Several institutional investors and hedge funds have recently made changes to their positions in PINS. Park Avenue Securities LLC acquired a new position in Pinterest in the first quarter valued at $266,000. Signaturefd LLC grew its stake in shares of Pinterest by 70.2% in the first quarter. Signaturefd LLC now owns 5,749 shares of the company’s stock valued at $141,000 after buying an additional 2,371 shares in the last quarter. National Asset Management Inc. grew its stake in shares of Pinterest by 11.1% in the first quarter. National Asset Management Inc. now owns 20,850 shares of the company’s stock valued at $492,000 after buying an additional 2,082 shares in the last quarter. State of New Jersey Common Pension Fund D grew its stake in shares of Pinterest by 3.5% in the first quarter. State of New Jersey Common Pension Fund D now owns 338,778 shares of the company’s stock valued at $8,337,000 after buying an additional 11,552 shares in the last quarter. Finally, Arizona State Retirement System grew its stake in shares of Pinterest by 1.5% in the first quarter. Arizona State Retirement System now owns 154,404 shares of the company’s stock valued at $3,800,000 after buying an additional 2,351 shares in the last quarter. 70.78% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on PINS. Piper Sandler boosted their price target on Pinterest from $23.00 to $25.00 and gave the company a “neutral” rating in a research report on Friday, October 28th. Citigroup increased their target price on shares of Pinterest from $25.00 to $26.00 and gave the company a “neutral” rating in a research note on Monday, October 31st. Guggenheim raised their price target on shares of Pinterest to $26.00 in a report on Tuesday, November 1st. Royal Bank of Canada boosted their price target on shares of Pinterest from $23.00 to $24.00 and gave the stock a “sector perform” rating in a research report on Friday, October 28th. Finally, Credit Suisse Group dropped their price target on shares of Pinterest from $25.00 to $24.00 and set a “neutral” rating for the company in a research note on Friday, October 28th. Sixteen equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $28.68.

About Pinterest

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Pinterest, Inc operates as a visual discovery engine in the United States and internationally. The company's engine allows people to find inspiration for their lives, including recipes, style and home inspiration, DIY, and others; and provides video, product, and idea pins. It shows visual machine learning recommendations based on pinners taste and interests.

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