Pinterest, Inc. (NYSE:PINS) Director Sells $3,180,906.28 in Stock

Pinterest, Inc. (NYSE:PINS) Director Benjamin Silbermann sold 102,083 shares of Pinterest stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $31.16, for a total transaction of $3,180,906.28. Following the transaction, the director now directly owns 6,274 shares in the company, valued at $195,497.84. The trade was a 94.21 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Pinterest Stock Performance

PINS traded down $0.21 during trading on Thursday, reaching $31.40. 11,045,435 shares of the stock were exchanged, compared to its average volume of 9,844,888. The stock has a market cap of $21.29 billion, a P/E ratio of 11.67, a price-to-earnings-growth ratio of 1.95 and a beta of 1.02. Pinterest, Inc. has a twelve month low of $27.00 and a twelve month high of $45.19. The stock’s 50 day moving average price is $34.34 and its two-hundred day moving average price is $32.27.

Pinterest (NYSE:PINS) last issued its earnings results on Thursday, February 6th. The company reported $0.33 earnings per share 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%. Equities research analysts predict that Pinterest, Inc. will post 0.6 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Pinterest

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD boosted its position in Pinterest by 104.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 25,432,141 shares of the company’s stock worth $737,533,000 after purchasing an additional 12,986,310 shares during the period. Ameriprise Financial Inc. boosted its position in Pinterest by 49.7% during 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 period. State Street Corp boosted its position in Pinterest by 1.2% during the third quarter. State Street Corp now owns 12,773,652 shares of the company’s stock worth $413,483,000 after purchasing an additional 156,748 shares during the period. FMR LLC boosted its position in Pinterest by 2.6% during the fourth quarter. FMR LLC now owns 12,599,356 shares of the company’s stock worth $365,381,000 after purchasing an additional 316,633 shares during the period. Finally, Norges Bank bought a new position in Pinterest during the fourth quarter worth $358,205,000. 88.81% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on PINS. The Goldman Sachs Group lifted their price objective 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. KeyCorp reduced their price objective on shares of Pinterest from $46.00 to $41.00 and set an “overweight” rating on the stock in a research note on Tuesday. Oppenheimer lifted their price objective on shares of Pinterest from $40.00 to $50.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Royal Bank of Canada lifted their price objective on shares of Pinterest from $48.00 to $50.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Finally, TD Cowen began coverage on shares of Pinterest in a report on Tuesday, November 26th. They set a “buy” rating and a $38.00 target price on the stock. Eight equities research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. According to MarketBeat.com, Pinterest 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.