Public Employees Retirement System of Ohio Invests $3.43 Million in Pinterest, Inc. $PINS

Public Employees Retirement System of Ohio acquired a new stake in Pinterest, Inc. (NYSE:PINS) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 163,217 shares of the company’s stock, valued at approximately $3,432,000.

Other institutional investors have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD boosted its stake in shares of Pinterest by 15.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 27,809,693 shares of the company’s stock valued at $719,994,000 after purchasing an additional 3,669,476 shares in the last quarter. Victory Capital Management Inc. increased its position in Pinterest by 30.5% during the 4th quarter. Victory Capital Management Inc. now owns 26,808,870 shares of the company’s stock worth $694,082,000 after purchasing an additional 6,258,628 shares in the last quarter. State Street Corp lifted its stake in Pinterest by 52.6% in the 4th quarter. State Street Corp now owns 21,492,169 shares of the company’s stock valued at $556,432,000 after purchasing an additional 7,412,213 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in Pinterest by 15.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 17,818,418 shares of the company’s stock valued at $638,969,000 after purchasing an additional 2,319,964 shares during the last quarter. Finally, Norges Bank acquired a new stake in Pinterest in the fourth quarter valued at approximately $357,945,000. Institutional investors and hedge funds own 88.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on PINS. Wedbush reiterated a “neutral” rating and set a $24.00 price target on shares of Pinterest in a report on Wednesday, August 5th. Wall Street Zen upgraded Pinterest from a “hold” rating to a “buy” rating in a research report on Sunday, August 9th. Mizuho upped their target price on Pinterest from $31.00 to $32.00 and gave the stock an “outperform” rating in a report on Wednesday, August 5th. Robert W. Baird lifted their price target on Pinterest from $24.00 to $26.00 and gave the company a “neutral” rating in a research note on Wednesday, August 5th. Finally, Barclays upped their price objective on Pinterest from $27.00 to $31.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 5th. Eighteen investment analysts have rated the stock with a Buy rating and nineteen have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $27.90.

Pinterest Stock Down 1.9%

Shares of PINS opened at $20.45 on Friday. The stock’s 50-day moving average price is $22.92 and its two-hundred day moving average price is $20.60. Pinterest, Inc. has a 12 month low of $13.84 and a 12 month high of $38.57. The company has a market capitalization of $11.46 billion, a PE ratio of 60.15, a PEG ratio of 1.37 and a beta of 0.90. The company has a current ratio of 3.81, a quick ratio of 3.81 and a debt-to-equity ratio of 0.34.

Pinterest (NYSE:PINS) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.07. The company had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.15 billion. Pinterest had a return on equity of 7.49% and a net margin of 5.46%.The firm’s revenue was up 18.2% compared to the same quarter last year. During the same period last year, the company earned $0.33 earnings per share. On average, analysts anticipate that Pinterest, Inc. will post 0.58 EPS for the current year.

Insider Activity at Pinterest

In related news, Director Benjamin Silbermann sold 93,750 shares of Pinterest stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $21.43, for a total transaction of $2,009,062.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Julia Donnelly sold 59,096 shares of the business’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $23.48, for a total transaction of $1,387,574.08. Following the completion of the transaction, the chief financial officer owned 817,409 shares in the company, valued at approximately $19,192,763.32. The trade was a 6.74% 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. In the last 90 days, insiders have sold 602,219 shares of company stock valued at $13,383,703. Company insiders own 8.09% of the company’s stock.

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.