Public Employees Retirement System of Ohio Takes Position in Pinterest, Inc. $PINS

Public Employees Retirement System of Ohio acquired a new position in shares of Pinterest, Inc. (NYSE:PINS) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 163,217 shares of the company’s stock, valued at approximately $3,432,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Forsta AP Fonden lifted its position in shares of Pinterest by 61.2% in the fourth quarter. Forsta AP Fonden now owns 397,400 shares of the company’s stock valued at $10,289,000 after buying an additional 150,900 shares during the last quarter. Amundi increased its holdings in shares of Pinterest by 38.3% during the 1st quarter. Amundi now owns 3,200,829 shares of the company’s stock worth $58,703,000 after acquiring an additional 885,927 shares during the last quarter. Jefferies Financial Group Inc. bought a new stake in Pinterest in the 4th quarter valued at $12,812,000. Freemont Management S.A. bought a new stake in Pinterest in the 4th quarter valued at $2,540,000. Finally, Northwestern Mutual Investment Management Company LLC acquired a new stake in Pinterest during the 4th quarter valued at $3,451,000. 88.81% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on PINS shares. Guggenheim lifted their price objective on shares of Pinterest from $24.00 to $26.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. Barclays raised their target price on shares of Pinterest from $27.00 to $31.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 5th. Citigroup lifted their target price on shares of Pinterest from $25.00 to $27.00 and gave the stock a “neutral” rating in a report on Wednesday, August 5th. Mizuho upped their price target on shares of Pinterest from $31.00 to $32.00 and gave the company an “outperform” rating in a research note on Wednesday, August 5th. Finally, Morgan Stanley increased their price target on shares of Pinterest from $30.00 to $32.00 and gave the company an “overweight” rating in a report on Wednesday, August 5th. Eighteen analysts have rated the stock with a Buy rating and nineteen have assigned a Hold rating to the stock. According to MarketBeat.com, Pinterest has an average rating of “Hold” and a consensus price target of $27.90.

Pinterest Trading Down 1.9%

Shares of Pinterest stock opened at $20.45 on Friday. The firm has a 50-day moving average of $22.92 and a 200-day moving average of $20.60. The stock has a market cap of $11.46 billion, a PE ratio of 60.15, a PEG ratio of 1.37 and a beta of 0.90. Pinterest, Inc. has a 52-week low of $13.84 and a 52-week high of $38.57. The company has a debt-to-equity ratio of 0.34, a quick ratio of 3.81 and a current ratio of 3.81.

Pinterest (NYSE:PINS) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.07. Pinterest had a net margin of 5.46% and a return on equity of 7.49%. The business had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.15 billion. During the same quarter in the previous year, the company earned $0.33 EPS. The business’s revenue was up 18.2% on a year-over-year basis. As a group, sell-side analysts forecast that Pinterest, Inc. will post 0.58 EPS for the current year.

Insider Buying and Selling

In other Pinterest news, Director Benjamin Silbermann sold 93,750 shares of the firm’s stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $21.43, for a total transaction of $2,009,062.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Claude Leonard Brown sold 12,240 shares of the company’s stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $23.88, for a total value of $292,291.20. Following the sale, the insider owned 1,206,834 shares of the company’s stock, valued at approximately $28,819,195.92. The trade was a 1.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 602,219 shares of company stock worth $13,383,703. 8.09% of the stock is owned by corporate insiders.

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.