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On May 14, Benjamin Silbermann, a director and significant shareholder of Pinterest, Inc. (NYSE:PINS), executed a series of transactions involving the company’s Class A Common Stock. According to a recent filing, Silbermann sold a total of 408,332 shares, amounting to approximately $13.54 million. The sale comes as Pinterest, currently valued at $21.8 billion, shows strong momentum with a 10.3% return over the past week. InvestingPro analysis suggests the stock is currently trading below its Fair Value.
The sales were conducted under a pre-established Rule 10b5-1 trading plan, with shares being sold at prices ranging from $32.845 to $33.605 per share. These transactions included the conversion of Class B Common Stock into Class A Common Stock prior to the sale. The company maintains excellent financial health with a current ratio of 8.4, indicating strong liquidity position.
Following the transactions, Silbermann retains ownership of 6,274 shares directly and holds additional shares through indirect ownership structures. The transactions highlight ongoing activity in Pinterest’s stock by its key stakeholders. For deeper insights into insider trading patterns and comprehensive analysis, including 12+ additional ProTips, check out the detailed Pinterest research report on InvestingPro.
In other recent news, Pinterest Inc . reported strong first-quarter results, with revenue and EBITDA figures surpassing Wall Street’s estimates by 1% and 4%, respectively, according to Cantor Fitzgerald. The company also provided second-quarter revenue guidance, projecting a year-over-year growth of 12-15%, which aligns with Wall Street expectations. KeyBanc Capital Markets raised its price target for Pinterest to $40, maintaining an Overweight rating, citing the company’s strategic partnerships and product developments as significant growth drivers. Similarly, Cantor Fitzgerald increased its price target to $39, reflecting confidence in Pinterest’s resilience against macroeconomic challenges.
Benchmark analyst Mark Zgutowicz reaffirmed a Buy rating with a $45 price target, highlighting Pinterest’s improved return on ad spend and the growth potential of its Performance+ product. Jefferies raised its price target to $31 while maintaining a Hold rating, noting the success of Pinterest’s Performance+ advertising program. Piper Sandler maintained a Neutral rating with a $34 price target, acknowledging Pinterest’s commendable guidance but expressing concerns over competitive pressures in the advertising market. The company’s user engagement has been strong, with monthly active users increasing by 10% year-over-year, as noted by Jefferies. These developments indicate Pinterest’s strategic advancements and potential for continued revenue growth.
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