Arizona State Retirement System Has $5.08 Million Position in Pinterest, Inc. (NYSE:PINS)

Arizona State Retirement System increased its stake in Pinterest, Inc. (NYSE:PINS) by 2.1% in the 4th quarter, Holdings Channel reports. The firm owned 175,307 shares of the company’s stock after purchasing an additional 3,595 shares during the period. Arizona State Retirement System’s holdings in Pinterest were worth $5,084,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. State Street Corp lifted its holdings in Pinterest by 1.2% in the 3rd quarter. State Street Corp now owns 12,773,652 shares of the company’s stock worth $413,483,000 after purchasing an additional 156,748 shares during the last quarter. Geode Capital Management LLC increased its position in Pinterest by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 9,466,585 shares of the company’s stock worth $305,710,000 after buying an additional 76,920 shares during the period. Ontario Teachers Pension Plan Board increased its position in Pinterest by 51.5% in the 3rd quarter. Ontario Teachers Pension Plan Board now owns 8,812,117 shares of the company’s stock worth $285,248,000 after buying an additional 2,996,750 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its position in Pinterest by 8.4% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,944,489 shares of the company’s stock worth $192,423,000 after buying an additional 460,708 shares during the period. Finally, Ninety One UK Ltd increased its position in Pinterest by 5.4% in the 4th quarter. Ninety One UK Ltd now owns 5,471,613 shares of the company’s stock worth $158,677,000 after buying an additional 278,362 shares during the period. 88.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have commented on PINS shares. Raymond James lifted their price target on Pinterest from $34.00 to $42.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. The Goldman Sachs Group lifted their price target on Pinterest from $42.00 to $47.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Roth Capital set a $32.00 price target on Pinterest in a research report on Monday, February 3rd. Wells Fargo & Company lifted their price target on Pinterest from $39.00 to $47.00 and gave the stock an “overweight” rating in a research report on Friday, February 7th. Finally, Royal Bank of Canada boosted their price objective on Pinterest from $48.00 to $50.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Eight research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $43.47.

Pinterest Stock Performance

Pinterest stock opened at $34.37 on Friday. The firm has a market cap of $23.31 billion, a P/E ratio of 12.78, a P/E/G ratio of 1.95 and a beta of 1.02. The business’s fifty day moving average is $34.13 and its two-hundred day moving average is $32.28. Pinterest, Inc. has a 52 week low of $27.00 and a 52 week high of $45.19.

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

Insider Activity

In other news, CAO Andrea Acosta sold 3,667 shares of the company’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $37.46, for a total transaction of $137,365.82. Following the transaction, the chief accounting officer now owns 144,129 shares of the company’s stock, valued at $5,399,072.34. This represents a 2.48 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Gokul Rajaram sold 1,150 shares of the company’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $30.98, for a total value of $35,627.00. Following the completion of the sale, the director now owns 31,386 shares of the company’s stock, valued at $972,338.28. This represents a 3.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 100,189 shares of company stock valued at $3,433,811 over the last 90 days. 7.11% of the stock is owned by company insiders.

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.