Pinterest director Benjamin Silbermann sells $3.55 million in stock

Pinterest, Inc. (NYSE:PINS), the $23.56 billion social media platform currently trading at $34.75, saw director Benjamin Silbermann execute a significant stock sale, according to a company filing. According to InvestingPro data, the stock’s technical indicators suggest overbought conditions. On June 11, Silbermann sold a total of 102,083 shares of Class A Common Stock, amounting to approximately $3.55 million. The shares were sold at a weighted average price range between $34.55 and $35.09 per share, as part of a pre-arranged Rule 10b5-1 trading plan. The company maintains strong financial health with an InvestingPro Overall Score of "GREAT" and holds more cash than debt on its balance sheet.

The transactions were executed through two entities: the Benjamin and Divya Silbermann Family Trust and SFTC, LLC. After these sales, the shares owned by both entities were reduced to zero. However, Silbermann retains a substantial holding of Class B Common Stock, which can be converted into Class A shares at any time. These transactions highlight Silbermann’s ongoing financial activities with Pinterest stock, reflecting his strategic management of personal and family investments. For deeper insights into Pinterest’s valuation and 12 additional exclusive ProTips, visit InvestingPro.

In other recent news, Pinterest Inc . held its annual stockholder meeting, where shareholders approved several key proposals, including the election of directors and amendments to the company’s bylaws. The election confirmed four Class III director nominees, and the amendments involved officer exculpation as permitted by Delaware law. Additionally, Pinterest ratified the appointment of Ernst & Young LLP as its independent registered public accounting firm for 2025. Analyst firms have been actively adjusting their outlooks on Pinterest, with Benchmark maintaining a Buy rating and a $45 price target, citing strong first-quarter results and a positive outlook due to improved return on ad spend. Cantor Fitzgerald raised its price target from $35 to $39, highlighting Pinterest’s revenue and EBITDA figures that surpassed Wall Street’s estimates. Piper Sandler maintained a Neutral stance with a $34 target, acknowledging Pinterest’s resilience but expressing challenges in identifying significant growth drivers. KeyBanc increased its price target to $40, praising Pinterest’s product developments and strategic partnerships as effective countermeasures against market challenges. These developments reflect Pinterest’s strategic advancements and its potential for future growth amidst a challenging economic environment.

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