Pinterest, Inc. (NYSE:PINS) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System cut its stake in Pinterest, Inc. (NYSE:PINS) by 3.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,048,627 shares of the company’s stock after selling 39,206 shares during the quarter. California Public Employees Retirement System owned about 0.16% of Pinterest worth $38,841,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Rakuten Securities Inc. acquired a new position in Pinterest during the fourth quarter worth approximately $30,000. Washington Trust Advisors Inc. increased its holdings in shares of Pinterest by 46.0% in the fourth quarter. Washington Trust Advisors Inc. now owns 1,035 shares of the company’s stock valued at $38,000 after purchasing an additional 326 shares during the period. Clear Street Markets LLC acquired a new position in shares of Pinterest in the third quarter valued at approximately $41,000. Blue Trust Inc. increased its holdings in shares of Pinterest by 87.7% in the fourth quarter. Blue Trust Inc. now owns 1,192 shares of the company’s stock valued at $44,000 after purchasing an additional 557 shares during the period. Finally, Global Retirement Partners LLC increased its holdings in shares of Pinterest by 396.2% in the fourth quarter. Global Retirement Partners LLC now owns 1,300 shares of the company’s stock valued at $48,000 after purchasing an additional 1,038 shares during the period. 88.81% of the stock is owned by institutional investors and hedge funds.

Pinterest Trading Up 4.1 %

NYSE PINS opened at $33.97 on Friday. The business’s 50-day moving average price is $34.56 and its 200 day moving average price is $34.14. Pinterest, Inc. has a twelve month low of $20.60 and a twelve month high of $41.60. The company has a market capitalization of $23.06 billion, a PE ratio of -566.07, a price-to-earnings-growth ratio of 4.47 and a beta of 0.99.

Pinterest (NYSE:PINS) last released its earnings results on Thursday, February 8th. The company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.04. Pinterest had a positive return on equity of 3.83% and a negative net margin of 1.17%. The firm had revenue of $981.26 million for the quarter, compared to the consensus estimate of $988.62 million. Equities analysts predict that Pinterest, Inc. will post 0.36 EPS for the current year.

Insiders Place Their Bets

In other Pinterest news, CFO Donnelly Julia Brau sold 65,972 shares of the company’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $34.42, for a total transaction of $2,270,756.24. Following the completion of the sale, the chief financial officer now directly owns 392,829 shares in the company, valued at $13,521,174.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Gokul Rajaram sold 1,934 shares of the stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $33.34, for a total value of $64,479.56. Following the completion of the sale, the director now owns 31,646 shares in the company, valued at $1,055,077.64. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Donnelly Julia Brau sold 65,972 shares of the stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $34.42, for a total value of $2,270,756.24. Following the completion of the sale, the chief financial officer now owns 392,829 shares of the company’s stock, valued at approximately $13,521,174.18. The disclosure for this sale can be found here. Insiders sold 184,471 shares of company stock worth $6,525,231 over the last three months. 6.85% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on PINS shares. Evercore ISI boosted their target price on Pinterest from $45.00 to $50.00 and gave the company an “outperform” rating in a report on Friday, January 26th. Argus raised Pinterest from a “hold” rating to a “buy” rating and set a $45.00 target price on the stock in a report on Thursday, January 18th. BMO Capital Markets assumed coverage on Pinterest in a report on Tuesday, January 9th. They set an “outperform” rating and a $45.00 price objective on the stock. Wedbush upped their price objective on Pinterest from $35.00 to $38.00 and gave the stock a “neutral” rating in a report on Friday, February 9th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $45.00 price objective on shares of Pinterest in a report on Friday, February 9th. Seven equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $37.68.

About Pinterest

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.