Benjamin Silbermann Sells 102,083 Shares of Pinterest, Inc. (NYSE:PINS) Stock

Pinterest, Inc. (NYSE:PINS) Director Benjamin Silbermann sold 102,083 shares of the company’s stock in a transaction on Wednesday, March 26th. The shares were 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 $211,496.54. This represents a 94.21 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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 transaction of $3,180,906.28.

Pinterest Stock Down 2.3 %

NYSE PINS opened at $31.49 on Friday. The company has a 50-day simple moving average of $34.66 and a two-hundred day simple moving average of $32.37. Pinterest, Inc. has a 12-month low of $27.00 and a 12-month high of $45.19. The firm has a market cap 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 (NYSE:PINS) last issued 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 net margin of 51.07% and a return on equity of 8.10%. Equities analysts expect that Pinterest, Inc. will post 0.6 earnings per share for the current fiscal year.

Institutional Trading of Pinterest

Institutional investors have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD raised its holdings in Pinterest by 104.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 25,432,141 shares of the company’s stock valued at $737,533,000 after buying an additional 12,986,310 shares during the last quarter. Norges Bank purchased a new position in shares of Pinterest in the fourth quarter valued at about $358,205,000. Marshall Wace LLP raised its stake in shares of Pinterest by 134.1% during the fourth quarter. Marshall Wace LLP now owns 10,701,783 shares of the company’s stock valued at $310,352,000 after acquiring an additional 6,129,985 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of Pinterest during the third quarter worth about $153,829,000. Finally, Ameriprise Financial Inc. grew its stake in shares of Pinterest by 49.7% in the fourth quarter. Ameriprise Financial Inc. now owns 13,635,800 shares of the company’s stock worth $395,441,000 after purchasing an additional 4,527,902 shares during the last quarter. Hedge funds and other institutional investors own 88.81% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. The Goldman Sachs Group lifted their target price on shares of Pinterest from $42.00 to $47.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Barclays boosted their target price on shares of Pinterest from $36.00 to $42.00 and gave the company an “equal weight” rating in a report on Friday, February 7th. Royal Bank of Canada lifted their price target on Pinterest from $48.00 to $50.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Jefferies Financial Group reissued a “hold” rating and set a $32.00 price objective (down previously from $40.00) on shares of Pinterest in a report on Monday, January 13th. Finally, Cantor Fitzgerald raised their target price on Pinterest from $36.00 to $48.00 and gave the stock an “overweight” rating in a research note on Friday, February 7th. Seven investment analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price 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.