Pinterest, Inc. (NYSE:PINS) Director Sells 102,083 Shares

Pinterest, Inc. (NYSE:PINS) Director Benjamin Silbermann sold 102,083 shares of the company’s stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $31.16, for a total value of $3,180,906.28. Following the sale, the director now owns 6,274 shares in the company, valued at approximately $195,497.84. This represents a 94.21 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Pinterest Price Performance

NYSE PINS opened at $31.40 on Friday. Pinterest, Inc. has a 1-year low of $27.00 and a 1-year high of $45.19. The business’s 50-day simple moving average is $34.35 and its 200-day simple moving average is $32.27. The firm has a market capitalization of $21.29 billion, a P/E ratio of 11.67, a P/E/G ratio of 1.95 and a beta of 1.02.

Pinterest (NYSE:PINS) last announced its quarterly earnings data 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, equities research analysts expect that Pinterest, Inc. will post 0.6 EPS for the current fiscal year.

Hedge Funds Weigh In On Pinterest

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PINS. Maverick Capital Ltd. raised its position in Pinterest by 47.6% in the third quarter. Maverick Capital Ltd. now owns 57,180 shares of the company’s stock worth $1,851,000 after acquiring an additional 18,430 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its stake in shares of Pinterest by 8.4% during the 3rd 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 buying an additional 119,367 shares during the period. Massachusetts Financial Services Co. MA grew its stake in Pinterest by 4.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 844,187 shares of the company’s stock valued at $27,326,000 after purchasing an additional 32,539 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Pinterest by 2.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,252,996 shares of the company’s stock worth $137,669,000 after acquiring an additional 87,041 shares in the last quarter. Finally, Leibman Financial Services Inc. boosted its holdings in Pinterest by 102.2% in the fourth quarter. Leibman Financial Services Inc. now owns 64,222 shares of the company’s stock worth $1,862,000 after purchasing an additional 32,464 shares in the last quarter. 88.81% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on PINS. Piper Sandler restated a “neutral” rating and set a $41.00 price target (up previously from $36.00) on shares of Pinterest in a research report on Friday, February 7th. Stifel Nicolaus reissued a “buy” rating and issued a $50.00 target price (up from $45.00) on shares of Pinterest in a research note on Friday, February 7th. Jefferies Financial Group restated a “hold” rating and issued a $32.00 price objective (down from $40.00) on shares of Pinterest in a report on Monday, January 13th. Cantor Fitzgerald boosted their target price on Pinterest from $36.00 to $48.00 and gave the stock an “overweight” rating in a report on Friday, February 7th. Finally, Raymond James raised their price target on shares of Pinterest from $34.00 to $42.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Eight analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $43.30.

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.