Teacher Retirement System of Texas Sells 125,916 Shares of Pinterest, Inc. $PINS

Teacher Retirement System of Texas reduced its stake in Pinterest, Inc. (NYSE:PINS) by 19.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 529,450 shares of the company’s stock after selling 125,916 shares during the period. Teacher Retirement System of Texas’ holdings in Pinterest were worth $17,032,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of PINS. Allspring Global Investments Holdings LLC increased its stake in Pinterest by 15.2% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 835,179 shares of the company’s stock worth $26,600,000 after acquiring an additional 110,089 shares during the last quarter. Renaissance Group LLC grew its holdings in shares of Pinterest by 4.5% in the second quarter. Renaissance Group LLC now owns 1,019,178 shares of the company’s stock valued at $36,548,000 after purchasing an additional 43,541 shares in the last quarter. Oppenheimer Asset Management Inc. increased its position in Pinterest by 243.1% in the second quarter. Oppenheimer Asset Management Inc. now owns 69,446 shares of the company’s stock worth $2,490,000 after purchasing an additional 49,204 shares during the last quarter. SG Americas Securities LLC raised its stake in Pinterest by 302.0% during the third quarter. SG Americas Securities LLC now owns 133,193 shares of the company’s stock valued at $4,285,000 after purchasing an additional 100,063 shares in the last quarter. Finally, Norges Bank bought a new position in Pinterest during the second quarter valued at $477,853,000. Hedge funds and other institutional investors own 88.81% of the company’s stock.

Insider Transactions at Pinterest

In other news, insider Malik Ducard sold 2,293 shares of the business’s stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $26.18, for a total transaction of $60,030.74. Following the completion of the sale, the insider directly owned 697,480 shares of the company’s stock, valued at approximately $18,260,026.40. The trade was a 0.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Wanjiku Juanita Walcott sold 74,047 shares of the firm’s stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $26.89, for a total transaction of $1,991,123.83. Following the completion of the transaction, the insider directly owned 301,214 shares in the company, valued at $8,099,644.46. This represents a 19.73% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 105,161 shares of company stock worth $2,796,466. 7.06% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

PINS has been the topic of a number of research reports. Royal Bank Of Canada reduced their target price on shares of Pinterest from $45.00 to $38.00 and set an “outperform” rating on the stock in a report on Wednesday, November 5th. Mizuho assumed coverage on Pinterest in a research report on Monday, September 29th. They issued an “outperform” rating and a $50.00 price target for the company. Barclays decreased their price objective on Pinterest from $40.00 to $36.00 and set an “equal weight” rating on the stock in a research report on Wednesday, November 5th. The Goldman Sachs Group lowered their price objective on Pinterest from $36.00 to $32.00 and set a “buy” rating for the company in a research note on Tuesday, January 13th. Finally, Wells Fargo & Company cut their target price on Pinterest from $42.00 to $35.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 5th. One research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $38.64.

Pinterest Price Performance

Shares of NYSE:PINS opened at $25.92 on Friday. The firm has a market capitalization of $17.51 billion, a PE ratio of 9.00, a price-to-earnings-growth ratio of 1.23 and a beta of 0.91. The business has a 50 day simple moving average of $26.24 and a two-hundred day simple moving average of $31.63. Pinterest, Inc. has a 1 year low of $23.68 and a 1 year high of $40.90.

Pinterest (NYSE:PINS) last issued its quarterly earnings results on Tuesday, November 4th. The company reported $0.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.04). The business had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.05 billion. Pinterest had a return on equity of 8.20% and a net margin of 48.99%.Pinterest’s revenue was up 16.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.40 earnings per share. Equities research analysts expect that Pinterest, Inc. will post 0.6 EPS for the current fiscal 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.