Illinois Municipal Retirement Fund Boosts Stake in Pinterest, Inc. $PINS

Illinois Municipal Retirement Fund lifted its stake in shares of Pinterest, Inc. (NYSE:PINS) by 12.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 390,551 shares of the company’s stock after buying an additional 41,755 shares during the period. Illinois Municipal Retirement Fund owned approximately 0.06% of Pinterest worth $7,163,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Snowden Capital Advisors LLC lifted its position in Pinterest by 4.4% during the 2nd quarter. Snowden Capital Advisors LLC now owns 7,046 shares of the company’s stock worth $253,000 after acquiring an additional 296 shares during the period. EP Wealth Advisors LLC increased its holdings in shares of Pinterest by 3.9% in the second quarter. EP Wealth Advisors LLC now owns 9,483 shares of the company’s stock valued at $340,000 after purchasing an additional 358 shares during the period. Central Pacific Bank Trust Division increased its holdings in shares of Pinterest by 0.5% in the fourth quarter. Central Pacific Bank Trust Division now owns 95,960 shares of the company’s stock valued at $2,484,000 after purchasing an additional 464 shares during the period. Simon Quick Advisors LLC raised its stake in shares of Pinterest by 5.5% in the fourth quarter. Simon Quick Advisors LLC now owns 10,237 shares of the company’s stock worth $265,000 after purchasing an additional 535 shares during the last quarter. Finally, CIBC Asset Management Inc raised its stake in shares of Pinterest by 2.2% in the fourth quarter. CIBC Asset Management Inc now owns 26,434 shares of the company’s stock worth $684,000 after purchasing an additional 560 shares during the last quarter. 88.81% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Pinterest

In related news, insider Wanjiku Juanita Walcott sold 14,208 shares of the stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $19.65, for a total value of $279,187.20. Following the completion of the transaction, the insider directly owned 691,840 shares of the company’s stock, valued at approximately $13,594,656. This represents a 2.01% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Benjamin Silbermann sold 46,875 shares of Pinterest stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $22.63, for a total transaction of $1,060,781.25. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 323,845 shares of company stock worth $6,836,065 over the last 90 days. Insiders own 8.09% of the company’s stock.

Wall Street Analyst Weigh In

PINS has been the subject of a number of research reports. Barclays lifted their target price on Pinterest from $25.00 to $27.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 5th. Wells Fargo & Company raised their price target on shares of Pinterest from $28.00 to $30.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 7th. DA Davidson initiated coverage on shares of Pinterest in a research report on Wednesday, July 8th. They set a “buy” rating and a $26.00 price target for the company. Guggenheim restated a “buy” rating and set a $24.00 price objective on shares of Pinterest in a research note on Monday, June 15th. Finally, TD Cowen reaffirmed a “buy” rating on shares of Pinterest in a report on Monday, June 22nd. Seventeen research analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $27.66.

Pinterest Stock Up 0.3%

Pinterest stock opened at $23.17 on Friday. The business’s 50-day moving average price is $20.93 and its 200 day moving average price is $20.80. The company has a quick ratio of 4.23, a current ratio of 4.23 and a debt-to-equity ratio of 0.34. The firm has a market cap of $12.98 billion, a price-to-earnings ratio of 48.26, a price-to-earnings-growth ratio of 1.30 and a beta of 0.89. Pinterest, Inc. has a 52 week low of $13.84 and a 52 week high of $39.93.

Pinterest (NYSE:PINS) last announced its quarterly earnings results on Monday, May 4th. The company reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.05. Pinterest had a return on equity of 8.26% and a net margin of 7.64%.The company had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $965.84 million. During the same period in the previous year, the company posted $0.23 earnings per share. Pinterest’s revenue for the quarter was up 17.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Pinterest, Inc. will post 0.66 earnings per share for the current year.

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.