Teachers Retirement System of The State of Kentucky increased its holdings in Pinterest, Inc. (NYSE:PINS – Free Report) by 10.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 231,822 shares of the company’s stock after buying an additional 22,101 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Pinterest were worth $8,586,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of PINS. Ameriprise Financial Inc. boosted its position in shares of Pinterest by 43.9% in the third quarter. Ameriprise Financial Inc. now owns 11,122,436 shares of the company’s stock valued at $300,639,000 after acquiring an additional 3,390,924 shares during the period. Franklin Resources Inc. increased its holdings in shares of Pinterest by 34.0% in the fourth quarter. Franklin Resources Inc. now owns 10,036,837 shares of the company’s stock worth $371,764,000 after purchasing an additional 2,548,925 shares during the period. Baillie Gifford & Co. raised its position in shares of Pinterest by 12.6% in the fourth quarter. Baillie Gifford & Co. now owns 9,305,759 shares of the company’s stock worth $344,685,000 after buying an additional 1,043,173 shares in the last quarter. Capital World Investors boosted its stake in Pinterest by 0.7% during the fourth quarter. Capital World Investors now owns 8,887,130 shares of the company’s stock valued at $329,179,000 after buying an additional 64,270 shares during the period. Finally, Clearbridge Investments LLC grew its position in Pinterest by 17.3% during the fourth quarter. Clearbridge Investments LLC now owns 8,003,201 shares of the company’s stock worth $296,439,000 after buying an additional 1,182,758 shares in the last quarter. Institutional investors own 88.81% of the company’s stock.
Analysts Set New Price Targets
Several brokerages have recently commented on PINS. JPMorgan Chase & Co. boosted their price objective on Pinterest from $38.00 to $44.00 and gave the stock a “neutral” rating in a report on Wednesday, May 1st. Benchmark reissued a “hold” rating on shares of Pinterest in a report on Wednesday, May 1st. Royal Bank of Canada lifted their price objective on shares of Pinterest from $48.00 to $52.00 and gave the stock an “outperform” rating in a report on Wednesday, May 1st. Roth Mkm raised their price target on Pinterest from $38.00 to $40.00 and gave the company a “neutral” rating in a research report on Wednesday, May 1st. Finally, Piper Sandler reissued an “overweight” rating and set a $52.00 price objective on shares of Pinterest in a report on Friday. Eight analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Pinterest has a consensus rating of “Moderate Buy” and an average price target of $41.34.
Get Our Latest Analysis on Pinterest
Insiders Place Their Bets
In related news, insider Wanjiku Juanita Walcott sold 11,627 shares of the company’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $41.42, for a total value of $481,590.34. Following the transaction, the insider now owns 307,256 shares in the company, valued at approximately $12,726,543.52. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, insider Wanjiku Juanita Walcott sold 11,627 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $41.42, for a total value of $481,590.34. Following the completion of the transaction, the insider now directly owns 307,256 shares in the company, valued at approximately $12,726,543.52. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Gokul Rajaram sold 1,934 shares of the stock in a transaction on Monday, April 15th. The shares were sold at an average price of $33.34, for a total value of $64,479.56. Following the sale, the director now owns 31,646 shares in the company, valued at $1,055,077.64. The disclosure for this sale can be found here. Over the last three months, insiders have sold 67,650 shares of company stock valued at $2,466,665. 7.11% of the stock is currently owned by corporate insiders.
Pinterest Price Performance
Shares of NYSE PINS opened at $43.51 on Monday. The stock has a market cap of $29.72 billion, a P/E ratio of 207.19, a price-to-earnings-growth ratio of 4.27 and a beta of 0.97. Pinterest, Inc. has a 1 year low of $23.59 and a 1 year high of $44.64. The firm has a 50-day moving average of $39.11 and a 200 day moving average of $37.23.
Pinterest (NYSE:PINS – Get Free Report) last issued its quarterly earnings results on Tuesday, April 30th. The company reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.05. Pinterest had a return on equity of 5.93% and a net margin of 4.64%. The firm had revenue of $739.98 million for the quarter, compared to analysts’ expectations of $699.96 million. Research analysts expect that Pinterest, Inc. will post 0.44 earnings per share for the current fiscal year.
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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