State of Alaska Department of Revenue reduced its position in shares of Pinterest, Inc. (NYSE:PINS – Free Report) by 23.9% in the first quarter, according to its most recent filing with the SEC. The fund owned 121,309 shares of the company’s stock after selling 38,140 shares during the quarter. State of Alaska Department of Revenue’s holdings in Pinterest were worth $4,205,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. GAMMA Investing LLC bought a new position in shares of Pinterest during the 4th quarter valued at approximately $27,000. Rakuten Securities Inc. bought a new position in shares of Pinterest during the 4th quarter valued at approximately $30,000. Washington Trust Advisors Inc. boosted its position in shares of Pinterest by 46.0% during the 4th quarter. Washington Trust Advisors Inc. now owns 1,035 shares of the company’s stock valued at $38,000 after acquiring an additional 326 shares during the last quarter. Harvest Fund Management Co. Ltd bought a new position in shares of Pinterest during the 4th quarter valued at approximately $43,000. Finally, Blue Trust Inc. lifted its position in Pinterest by 87.7% in the fourth quarter. Blue Trust Inc. now owns 1,192 shares of the company’s stock worth $44,000 after buying an additional 557 shares during the last quarter. 88.81% of the stock is currently owned by institutional investors.
Pinterest Price Performance
PINS opened at $43.12 on Friday. The business’s 50-day moving average is $42.06 and its two-hundred day moving average is $38.07. Pinterest, Inc. has a 1 year low of $23.59 and a 1 year high of $45.19. The firm has a market capitalization of $29.46 billion, a PE ratio of 205.34, a price-to-earnings-growth ratio of 4.23 and a beta of 0.97.
Pinterest (NYSE:PINS – Get Free Report) last posted its earnings results on Tuesday, April 30th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.09) by $0.05. Pinterest had a return on equity of 5.93% and a net margin of 4.64%. The company had revenue of $739.98 million for the quarter, compared to analyst estimates of $699.96 million. As a group, sell-side analysts expect that Pinterest, Inc. will post 0.44 EPS for the current year.
Insider Transactions at Pinterest
In other news, CAO Andrea Acosta sold 3,845 shares of the business’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $43.90, for a total transaction of $168,795.50. Following the sale, the chief accounting officer now owns 189,470 shares in the company, valued at $8,317,733. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CAO Andrea Acosta sold 3,845 shares of the business’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $43.90, for a total transaction of $168,795.50. Following the sale, the chief accounting officer now owns 189,470 shares in the company, valued at $8,317,733. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Donnelly Julia Brau sold 30,280 shares of the business’s stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $44.38, for a total value of $1,343,826.40. Following the sale, the chief financial officer now owns 362,822 shares in the company, valued at approximately $16,102,040.36. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 52,184 shares of company stock worth $2,255,783. Insiders own 7.11% of the company’s stock.
Analyst Ratings Changes
PINS has been the subject of a number of analyst reports. Benchmark restated a “hold” rating on shares of Pinterest in a research report on Wednesday, May 1st. Stifel Nicolaus raised their price target on Pinterest from $42.00 to $46.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Roth Mkm raised their price target on Pinterest from $38.00 to $40.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. JPMorgan Chase & Co. raised their price target on Pinterest from $38.00 to $44.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. Finally, BMO Capital Markets raised their price target on Pinterest from $45.00 to $46.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 1st. Eight research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $41.37.
Check Out Our Latest Report on Pinterest
Pinterest Profile
(Free Report)
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.
Further Reading
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