Ontario Teachers Pension Plan Board Acquires 12,124 Shares of Pinterest, Inc. (NYSE:PINS)

Ontario Teachers Pension Plan Board increased its holdings in shares of Pinterest, Inc. (NYSE:PINS) by 48.7% during the first quarter, Holdings Channel.com reports. The firm owned 37,022 shares of the company’s stock after buying an additional 12,124 shares during the period. Ontario Teachers Pension Plan Board’s holdings in Pinterest were worth $1,284,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. GAMMA Investing LLC acquired a new stake in Pinterest in the fourth quarter valued at approximately $27,000. Rakuten Securities Inc. purchased a new position in shares of Pinterest in the fourth quarter worth $30,000. Washington Trust Advisors Inc. raised its holdings in shares of Pinterest by 46.0% during the fourth quarter. Washington Trust Advisors Inc. now owns 1,035 shares of the company’s stock worth $38,000 after purchasing an additional 326 shares during the last quarter. Quent Capital LLC raised its holdings in shares of Pinterest by 71.2% during the first quarter. Quent Capital LLC now owns 1,106 shares of the company’s stock worth $38,000 after purchasing an additional 460 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd purchased a new position in shares of Pinterest during the fourth quarter worth $43,000. 88.81% of the stock is currently owned by institutional investors.

Pinterest Trading Up 1.4 %

PINS traded up $0.58 during trading hours on Tuesday, hitting $41.68. 267,045 shares of the company’s stock were exchanged, compared to its average volume of 9,139,062. Pinterest, Inc. has a 12-month low of $23.59 and a 12-month high of $45.19. The firm has a 50 day moving average of $42.60 and a 200 day moving average of $38.48. The firm has a market cap of $28.47 billion, a P/E ratio of 195.77, a price-to-earnings-growth ratio of 3.98 and a beta of 0.97.

Pinterest (NYSE:PINS) last posted its quarterly earnings results on Tuesday, April 30th. The company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.09) by $0.05. Pinterest had a net margin of 4.64% and a return on equity of 5.93%. The company had revenue of $739.98 million during the quarter, compared to analysts’ expectations of $699.96 million. As a group, research analysts expect that Pinterest, Inc. will post 0.44 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. JPMorgan Chase & Co. raised their target price on shares of Pinterest from $38.00 to $44.00 and gave the stock a “neutral” rating in a report on Wednesday, May 1st. KeyCorp reduced their target price on shares of Pinterest from $48.00 to $40.00 and set an “overweight” rating for the company in a report on Wednesday, April 24th. The Goldman Sachs Group raised their price target on shares of Pinterest from $44.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, July 9th. Citigroup raised their price target on shares of Pinterest from $48.00 to $51.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Finally, Stifel Nicolaus raised their price target on shares of Pinterest from $42.00 to $46.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Nine research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat.com, Pinterest presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.04.

Insider Activity at Pinterest

In related news, insider Wanjiku Juanita Walcott sold 11,627 shares of the company’s stock in a transaction 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 sale, the insider now owns 307,256 shares in the company, valued at approximately $12,726,543.52. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Pinterest news, Director Gokul Rajaram sold 1,934 shares of the company’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $42.25, for a total transaction of $81,711.50. Following the completion of the transaction, the director now owns 29,712 shares in the company, valued at approximately $1,255,332. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Wanjiku Juanita Walcott sold 11,627 shares of the company’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $41.42, for a total transaction of $481,590.34. Following the transaction, the insider now owns 307,256 shares of the company’s stock, valued at approximately $12,726,543.52. The disclosure for this sale can be found here. Insiders sold a total of 50,250 shares of company stock worth $2,191,304 in the last 90 days. 7.11% of the stock is owned by insiders.

Pinterest 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.