Illinois Municipal Retirement Fund Sells 35,641 Shares of Pinterest, Inc. (NYSE:PINS)

Illinois Municipal Retirement Fund cut its stake in Pinterest, Inc. (NYSE:PINS) by 8.4% during the 4th quarter, Holdings Channel.com reports. The firm owned 388,384 shares of the company’s stock after selling 35,641 shares during the period. Illinois Municipal Retirement Fund’s holdings in Pinterest were worth $11,263,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of PINS. Point72 Asset Management L.P. bought a new position in shares of Pinterest in the third quarter valued at about $153,829,000. Southpoint Capital Advisors LP bought a new position in shares of Pinterest in the third quarter valued at about $123,006,000. Ontario Teachers Pension Plan Board raised its position in shares of Pinterest by 51.5% in the third quarter. Ontario Teachers Pension Plan Board now owns 8,812,117 shares of the company’s stock valued at $285,248,000 after purchasing an additional 2,996,750 shares during the period. Nordea Investment Management AB raised its position in shares of Pinterest by 122.1% in the fourth quarter. Nordea Investment Management AB now owns 3,807,269 shares of the company’s stock valued at $111,515,000 after purchasing an additional 2,093,248 shares during the period. Finally, Assenagon Asset Management S.A. grew its stake in shares of Pinterest by 582.2% in the fourth quarter. Assenagon Asset Management S.A. now owns 2,266,948 shares of the company’s stock valued at $65,741,000 after acquiring an additional 1,934,653 shares in the last quarter. 88.81% of the stock is owned by institutional investors.

Pinterest Trading Down 0.7 %

PINS stock opened at $36.69 on Wednesday. The firm has a 50-day moving average price of $33.05 and a 200-day moving average price of $31.94. The stock has a market capitalization of $24.89 billion, a P/E ratio of 13.64, a price-to-earnings-growth ratio of 1.95 and a beta of 1.06. Pinterest, Inc. has a 12 month low of $27.00 and a 12 month high of $45.19.

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

Insider Activity at Pinterest

In other Pinterest news, CAO Andrea Acosta sold 3,667 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The shares were 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 owns 144,129 shares in the company, valued at approximately $5,399,072.34. This trade represents a 2.48 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gokul Rajaram sold 1,150 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $39.19, for a total transaction of $45,068.50. Following the transaction, the director now owns 29,086 shares of the company’s stock, valued at approximately $1,139,880.34. The trade was a 3.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 7,117 shares of company stock worth $253,056 in the last quarter. 7.11% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Royal Bank of Canada upped their price target on shares of Pinterest from $48.00 to $50.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Wedbush upped their price target on shares of Pinterest from $38.00 to $46.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Oppenheimer upped their price target on shares of Pinterest from $40.00 to $50.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Jefferies Financial Group restated a “hold” rating and issued a $32.00 price target (down from $40.00) on shares of Pinterest in a research note on Monday, January 13th. Finally, Roth Mkm decreased their price target on shares of Pinterest from $39.00 to $33.00 and set a “neutral” rating on the stock in a research note on Friday, November 8th. Eight research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company’s stock. According to MarketBeat.com, Pinterest presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.47.

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.