Pinterest, Inc. $PINS Shares Purchased by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund increased its stake in shares of Pinterest, Inc. (NYSE:PINS) by 12.0% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 390,551 shares of the company’s stock after acquiring an additional 41,755 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Pinterest were worth $7,163,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Elevated Capital Advisors LLC purchased a new stake in Pinterest in the 4th quarter valued at $26,000. Caitong International Asset Management Co. Ltd raised its holdings in shares of Pinterest by 2,017.3% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,101 shares of the company’s stock worth $29,000 after acquiring an additional 1,049 shares during the period. Addison Advisors LLC raised its holdings in shares of Pinterest by 727.3% during the 4th quarter. Addison Advisors LLC now owns 1,365 shares of the company’s stock worth $35,000 after acquiring an additional 1,200 shares during the period. Garner Asset Management Corp acquired a new position in shares of Pinterest during the 4th quarter valued at about $36,000. Finally, Summit Securities Group LLC acquired a new position in shares of Pinterest during the 1st quarter valued at about $43,000. Institutional investors and hedge funds own 88.81% of the company’s stock.

Insider Transactions at Pinterest

In related news, insider Wanjiku Juanita Walcott sold 14,208 shares of the stock in a transaction that occurred on 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 transaction, 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Benjamin Silbermann sold 46,875 shares of Pinterest stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $22.63, for a total transaction of $1,060,781.25. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 323,845 shares of company stock valued at $6,836,065. Company insiders own 8.09% of the company’s stock.

Pinterest Stock Up 0.3%

Shares of NYSE:PINS opened at $23.17 on Friday. The business has a 50-day moving average price of $20.93 and a 200 day moving average price of $20.80. The company has a current ratio of 4.23, a quick ratio of 4.23 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $12.98 billion, a price-to-earnings ratio of 48.26, a PEG ratio of 1.30 and a beta of 0.89. Pinterest, Inc. has a 12-month low of $13.84 and a 12-month high of $39.93.

Pinterest (NYSE:PINS) last posted its earnings results on Monday, May 4th. The company reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.05. The company had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $965.84 million. Pinterest had a net margin of 7.64% and a return on equity of 8.26%. Pinterest’s revenue for the quarter was up 17.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.23 earnings per share. Sell-side analysts expect that Pinterest, Inc. will post 0.66 EPS for the current year.

Analysts Set New Price Targets

PINS has been the subject of a number of analyst reports. BMO Capital Markets reissued an “outperform” rating and issued a $30.00 price objective on shares of Pinterest in a report on Tuesday, May 5th. Benchmark reduced their target price on shares of Pinterest from $34.00 to $33.00 and set a “buy” rating on the stock in a research note on Thursday, April 30th. Stifel Nicolaus boosted their target price on shares of Pinterest from $25.00 to $27.00 and gave the company a “buy” rating in a report on Tuesday, May 5th. Royal Bank Of Canada increased their price target on shares of Pinterest from $17.00 to $23.00 and gave the company a “sector perform” rating in a research note on Tuesday, May 5th. Finally, DA Davidson began coverage on shares of Pinterest in a report on Wednesday, July 8th. They set a “buy” rating and a $26.00 price target for the company. Seventeen analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $27.66.

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.