New Mexico Educational Retirement Board Invests $3.16 Million in Pinterest, Inc. $PINS

New Mexico Educational Retirement Board acquired a new position in shares of Pinterest, Inc. (NYSE:PINS) in the 4th quarter, Holdings Channel.com reports. The fund acquired 122,000 shares of the company’s stock, valued at approximately $3,159,000.

Other large investors also recently made changes to their positions in the company. Atlantic Union Bankshares Corp increased its position in shares of Pinterest by 3,839.1% during the third quarter. Atlantic Union Bankshares Corp now owns 906 shares of the company’s stock worth $29,000 after acquiring an additional 883 shares in the last quarter. Elevated Capital Advisors LLC bought a new stake in shares of Pinterest during the fourth quarter worth $26,000. Addison Advisors LLC increased its position in shares of Pinterest by 727.3% during the fourth quarter. Addison Advisors LLC now owns 1,365 shares of the company’s stock worth $35,000 after acquiring an additional 1,200 shares in the last quarter. Fifth Third Bancorp increased its position in shares of Pinterest by 2,409.1% during the third quarter. Fifth Third Bancorp now owns 1,380 shares of the company’s stock worth $44,000 after acquiring an additional 1,325 shares in the last quarter. Finally, Garner Asset Management Corp bought a new stake in shares of Pinterest during the fourth quarter worth $36,000. Institutional investors own 88.81% of the company’s stock.

Insider Activity at Pinterest

In other news, Director Gokul Rajaram sold 2,100 shares of Pinterest stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $20.00, for a total value of $42,000.00. Following the completion of the transaction, the director owned 27,450 shares of the company’s stock, valued at $549,000. This trade represents a 7.11% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 4,200 shares of company stock valued at $84,000. Company insiders own 8.09% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on PINS shares. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $20.00 target price on shares of Pinterest in a research report on Friday, February 13th. Evercore set a $27.00 target price on shares of Pinterest in a research report on Tuesday, May 5th. TD Cowen raised their target price on shares of Pinterest from $36.00 to $38.00 and gave the company a “buy” rating in a research report on Tuesday, May 5th. Barclays raised their target price on shares of Pinterest from $25.00 to $27.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 5th. Finally, Weiss Ratings downgraded shares of Pinterest from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, April 2nd. Sixteen research analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Pinterest currently has an average rating of “Hold” and a consensus target price of $27.40.

Pinterest Stock Performance

Shares of PINS opened at $21.45 on Tuesday. The firm has a 50-day moving average of $19.45 and a 200-day moving average of $21.89. Pinterest, Inc. has a one year low of $13.84 and a one year high of $39.93. The company has a market cap of $12.02 billion, a PE ratio of 44.69, a price-to-earnings-growth ratio of 1.08 and a beta of 0.93. The company has a debt-to-equity ratio of 0.34, a current ratio of 4.23 and a quick ratio of 4.23.

Pinterest (NYSE:PINS) last announced its quarterly earnings data on Monday, May 4th. The company reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.05. Pinterest had a net margin of 7.64% and a return on equity of 8.26%. The company had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $965.84 million. During the same quarter last year, the firm posted $0.23 EPS. The company’s quarterly revenue was up 17.8% on a year-over-year basis. As a group, equities analysts forecast that Pinterest, Inc. will post 0.68 earnings per share for the current year.

Pinterest 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.