Insider Selling: Pinterest, Inc. (NYSE:PINS) Director Sells $3,192,135.41 in Stock

Pinterest, Inc. (NYSE:PINS) Director Benjamin Silbermann sold 102,083 shares of the business’s stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $31.27, for a total transaction of $3,192,135.41. Following the completion of the sale, the director now owns 6,274 shares in the company, valued at approximately $196,187.98. This trade represents a 94.21 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

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

• On Wednesday, March 26th, Benjamin Silbermann sold 102,083 shares of Pinterest stock. The stock was sold at an average price of $33.71, for a total transaction of $3,441,217.93.
• 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 6.3 %

PINS opened at $25.78 on Friday. The stock’s 50 day moving average price is $34.40 and its two-hundred day moving average price is $32.40. The firm has a market capitalization of $17.49 billion, a P/E ratio of 9.58, a price-to-earnings-growth ratio of 1.95 and a beta of 0.99. Pinterest, Inc. has a 12-month low of $24.91 and a 12-month high of $45.19.

Pinterest (NYSE:PINS) last announced its earnings results on Thursday, February 6th. The company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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, analysts anticipate that Pinterest, Inc. will post 0.6 earnings per share for the current year.

Institutional Investors Weigh In On Pinterest

Institutional investors have recently added to or reduced their stakes in the company. Versant Capital Management Inc lifted its position in shares of Pinterest by 6,591.7% in the 1st quarter. Versant Capital Management Inc now owns 10,439 shares of the company’s stock worth $324,000 after acquiring an additional 10,283 shares during the period. Central Pacific Bank Trust Division bought a new position in Pinterest in the first quarter worth $1,844,000. First Hawaiian Bank boosted its stake in Pinterest by 180.3% during the first quarter. First Hawaiian Bank now owns 22,226 shares of the company’s stock worth $689,000 after buying an additional 14,296 shares in the last quarter. Kera Capital Partners Inc. bought a new stake in Pinterest in the 1st quarter valued at $229,000. Finally, 111 Capital bought a new stake in Pinterest in the 4th quarter valued at $301,000. 88.81% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Cantor Fitzgerald increased their price target on Pinterest from $36.00 to $48.00 and gave the company an “overweight” rating in a research report on Friday, February 7th. Stifel Nicolaus reiterated a “buy” rating and issued a $50.00 target price (up from $45.00) on shares of Pinterest in a report on Friday, February 7th. Morgan Stanley lifted their target price on shares of Pinterest from $35.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Monday, January 13th. Roth Capital set a $32.00 price target on shares of Pinterest in a research report on Monday, February 3rd. Finally, Sanford C. Bernstein raised shares of Pinterest from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $34.00 to $47.00 in a research note on Friday, February 7th. Seven equities research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $43.17.

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.