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

Pinterest, Inc. (NYSE:PINS) Director Benjamin Silbermann sold 102,083 shares of the 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 of the company’s stock, valued at approximately $211,496.54. The trade was a 94.21 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed 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

NYSE:PINS opened at $32.29 on Friday. The company has a market capitalization of $21.90 billion, a P/E ratio of 12.00, a P/E/G ratio of 1.95 and a beta of 1.02. The stock’s 50 day moving average price is $34.64 and its 200 day moving average price is $32.35. Pinterest, Inc. has a 52 week low of $27.00 and a 52 week high of $45.19.

Pinterest (NYSE:PINS) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.33 EPS 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%. As a group, sell-side analysts forecast that Pinterest, Inc. will post 0.6 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Benchmark raised shares of Pinterest from a “hold” rating to a “buy” rating and set a $55.00 price target for the company in a report on Friday, February 7th. The Goldman Sachs Group increased their target price on shares of Pinterest from $42.00 to $47.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Royal Bank of Canada lifted their price target on shares of Pinterest from $48.00 to $50.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Wells Fargo & Company increased their price objective on Pinterest from $39.00 to $47.00 and gave the company an “overweight” rating in a research report on Friday, February 7th. Finally, Sanford C. Bernstein upgraded Pinterest from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $34.00 to $47.00 in a report on Friday, February 7th. Seven research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $43.33.

Hedge Funds Weigh In On Pinterest

Institutional investors have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD raised its position in shares of Pinterest by 104.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 25,432,141 shares of the company’s stock valued at $737,533,000 after purchasing an additional 12,986,310 shares during the period. Ameriprise Financial Inc. grew its stake in Pinterest by 49.7% in the 4th quarter. Ameriprise Financial Inc. now owns 13,635,800 shares of the company’s stock valued at $395,441,000 after buying an additional 4,527,902 shares during the last quarter. State Street Corp lifted its position in Pinterest by 1.2% during the 3rd quarter. State Street Corp now owns 12,773,652 shares of the company’s stock worth $413,483,000 after acquiring an additional 156,748 shares during the last quarter. FMR LLC boosted its holdings in Pinterest by 2.6% during the fourth quarter. FMR LLC now owns 12,599,356 shares of the company’s stock valued at $365,381,000 after acquiring an additional 316,633 shares during the period. Finally, Norges Bank acquired a new stake in shares of Pinterest in the fourth quarter valued at about $358,205,000. 88.81% of the stock is currently owned by institutional investors.

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.