Maryland State Retirement & Pension System Has $931,000 Holdings in Pinterest, Inc. (NYSE:PINS)

Maryland State Retirement & Pension System decreased its holdings in Pinterest, Inc. (NYSE:PINS) by 5.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 32,107 shares of the company’s stock after selling 1,727 shares during the period. Maryland State Retirement & Pension System’s holdings in Pinterest were worth $931,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in PINS. State Street Corp increased its stake in Pinterest by 1.2% in the 3rd quarter. State Street Corp now owns 12,773,652 shares of the company’s stock valued at $413,483,000 after buying an additional 156,748 shares during the period. Geode Capital Management LLC grew its holdings in shares of Pinterest by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 9,466,585 shares of the company’s stock valued at $305,710,000 after acquiring an additional 76,920 shares in the last quarter. Ninety One UK Ltd increased its stake in shares of Pinterest by 5.4% in the fourth quarter. Ninety One UK Ltd now owns 5,471,613 shares of the company’s stock worth $158,677,000 after acquiring an additional 278,362 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of Pinterest during the third quarter worth $153,829,000. Finally, ARK Investment Management LLC boosted its position in Pinterest by 0.4% during the fourth quarter. ARK Investment Management LLC now owns 4,386,546 shares of the company’s stock valued at $127,210,000 after purchasing an additional 17,997 shares during the last quarter. 88.81% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Pinterest news, CAO Andrea Acosta sold 3,667 shares of Pinterest stock in a transaction on Monday, February 24th. The stock was sold at an average price of $37.46, for a total transaction of $137,365.82. Following the completion of the transaction, the chief accounting officer now directly owns 144,129 shares of the company’s stock, valued at approximately $5,399,072.34. This trade represents a 2.48 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gokul Rajaram sold 1,150 shares of the business’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $30.43, for a total transaction of $34,994.50. Following the completion of the sale, the director now owns 30,236 shares in the company, valued at $920,081.48. This represents a 3.66 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 207,812 shares of company stock worth $6,798,857. Corporate insiders own 7.11% of the company’s stock.

Analysts Set New Price Targets

PINS has been the subject of a number of recent research reports. Piper Sandler reaffirmed a “neutral” rating and set a $41.00 price target (up from $36.00) on shares of Pinterest in a research note on Friday, February 7th. KeyCorp cut their price objective on shares of Pinterest from $46.00 to $41.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 18th. Cantor Fitzgerald boosted their target price on shares of Pinterest from $36.00 to $48.00 and gave the stock an “overweight” rating in a research report on Friday, February 7th. Morgan Stanley raised their price target on shares of Pinterest from $35.00 to $36.00 and gave the company an “equal weight” rating in a report on Monday, January 13th. Finally, TD Cowen initiated coverage on shares of Pinterest in a report on Tuesday, November 26th. They issued a “buy” rating and a $38.00 price objective for the company. Eight research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company’s stock. According to MarketBeat, Pinterest currently has an average rating of “Moderate Buy” and a consensus target price of $43.30.

Pinterest Trading Up 3.3 %

Shares of PINS stock opened at $32.45 on Monday. Pinterest, Inc. has a 12 month low of $27.00 and a 12 month high of $45.19. The company has a market capitalization of $22.01 billion, a P/E ratio of 12.06, a P/E/G ratio of 1.95 and a beta of 1.02. The stock has a 50 day moving average of $34.39 and a two-hundred day moving average of $32.29.

Pinterest (NYSE:PINS) last posted its quarterly earnings results on Thursday, February 6th. The company reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.30). Pinterest had a return on equity of 8.10% and a net margin of 51.07%. Sell-side analysts predict that Pinterest, Inc. will post 0.6 earnings per share for the current fiscal year.

Pinterest Company Profile

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.