South Dakota Investment Council Invests $1.55 Million in Pinterest, Inc. $PINS

South Dakota Investment Council bought a new position in Pinterest, Inc. (NYSE:PINS) during the first quarter, HoldingsChannel reports. The firm bought 84,600 shares of the company’s stock, valued at approximately $1,552,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Pinterest by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 62,056,069 shares of the company’s stock worth $1,606,632,000 after buying an additional 1,069,646 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Pinterest by 15.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 27,809,693 shares of the company’s stock valued at $719,994,000 after buying an additional 3,669,476 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of Pinterest by 30.5% during the fourth quarter. Victory Capital Management Inc. now owns 26,808,870 shares of the company’s stock valued at $694,082,000 after buying an additional 6,258,628 shares during the last quarter. State Street Corp grew its holdings in shares of Pinterest by 52.6% during the fourth quarter. State Street Corp now owns 21,492,169 shares of the company’s stock valued at $556,432,000 after buying an additional 7,412,213 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its position in shares of Pinterest by 15.0% during the second quarter. Ameriprise Financial Inc. now owns 17,818,418 shares of the company’s stock worth $638,969,000 after acquiring an additional 2,319,964 shares in the last quarter. Institutional investors own 88.81% of the company’s stock.

Pinterest Stock Performance

NYSE PINS opened at $24.11 on Friday. Pinterest, Inc. has a 1 year low of $13.84 and a 1 year high of $39.93. The company has a debt-to-equity ratio of 0.34, a current ratio of 4.23 and a quick ratio of 4.23. The firm has a market cap of $13.50 billion, a price-to-earnings ratio of 50.23, a PEG ratio of 1.39 and a beta of 0.89. The company has a fifty day moving average price of $21.70 and a 200-day moving average price of $20.58.

Pinterest (NYSE:PINS) last announced its earnings results on Monday, May 4th. The company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.22 by $0.05. Pinterest had a net margin of 7.64% and a return on equity of 8.26%. The company had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $965.84 million. During the same quarter in the prior year, the company posted $0.23 earnings per share. The firm’s revenue for the quarter was up 17.8% on a year-over-year basis. As a group, equities research analysts predict that Pinterest, Inc. will post 0.65 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. BMO Capital Markets restated an “outperform” rating and issued a $30.00 target price on shares of Pinterest in a report on Tuesday, May 5th. Benchmark cut their price target on Pinterest from $34.00 to $33.00 and set a “buy” rating for the company in a research note on Thursday, April 30th. Piper Sandler reissued a “neutral” rating and set a $26.00 price objective (up from $21.00) on shares of Pinterest in a report on Tuesday, May 5th. Barclays boosted their price objective on Pinterest from $25.00 to $27.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 5th. Finally, Stifel Nicolaus increased their price objective on Pinterest from $25.00 to $27.00 and gave the stock a “buy” rating in a research note on Tuesday, May 5th. Seventeen equities research analysts have rated the stock with a Buy rating and nineteen have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $27.69.

Insider Transactions at Pinterest

In other Pinterest news, Director Benjamin Silbermann sold 46,875 shares of the company’s stock in a transaction dated Tuesday, July 21st. The shares were sold at an average price of $22.54, for a total value of $1,056,562.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Wanjiku Juanita Walcott sold 14,208 shares of the stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $19.65, for a total transaction of $279,187.20. Following the completion of the sale, the insider owned 691,840 shares of the company’s stock, valued at approximately $13,594,656. This trade represents a 2.01% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 370,720 shares of company stock valued at $7,892,627 over the last ninety days. 8.09% of the stock is currently owned by insiders.

Pinterest Company Profile

Pinterest, Inc operates a visual discovery platform that helps users find inspiration and ideas for projects ranging from home design and fashion to cooking and travel. Users create and curate “Pins” — images or videos linked to content — organized on thematic boards. The service is available through its website and mobile applications and emphasizes personalized recommendations and visual search to surface relevant content based on user interests.

The company’s primary revenue model is advertising, offering promoted content formats that integrate into user feeds and search results.