California Public Employees Retirement System Boosts Position in Pinterest, Inc. $PINS

California Public Employees Retirement System grew its stake in shares of Pinterest, Inc. (NYSE:PINS) by 5.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 959,974 shares of the company’s stock after buying an additional 47,095 shares during the period. California Public Employees Retirement System owned 0.14% of Pinterest worth $34,425,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of PINS. Golden State Wealth Management LLC grew its stake in Pinterest by 282.7% during the second quarter. Golden State Wealth Management LLC now owns 685 shares of the company’s stock valued at $25,000 after acquiring an additional 506 shares in the last quarter. West Branch Capital LLC purchased a new position in shares of Pinterest during the 2nd quarter valued at $36,000. Wellington Shields Capital Management LLC purchased a new position in shares of Pinterest during the 2nd quarter valued at $40,000. MassMutual Private Wealth & Trust FSB increased its holdings in shares of Pinterest by 138.9% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,586 shares of the company’s stock worth $57,000 after purchasing an additional 922 shares during the period. Finally, SVB Wealth LLC purchased a new stake in shares of Pinterest in the first quarter worth $56,000. 88.81% of the stock is currently owned by institutional investors.

Pinterest Trading Up 2.3%

PINS opened at $27.81 on Thursday. The company has a market cap of $18.79 billion, a P/E ratio of 9.66, a P/E/G ratio of 1.72 and a beta of 0.89. The business’s 50-day moving average price is $29.42 and its 200-day moving average price is $33.41. Pinterest, Inc. has a 12 month low of $23.68 and a 12 month high of $40.90.

Pinterest (NYSE:PINS) last issued its earnings results on Tuesday, September 19th. The company reported $0.11 earnings per share for the quarter. The company had revenue of $665.93 million during the quarter. Pinterest had a return on equity of 8.20% and a net margin of 48.99%. Equities research analysts forecast that Pinterest, Inc. will post 0.6 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently commented on PINS shares. Monness Crespi & Hardt cut Pinterest from a “buy” rating to a “neutral” rating in a research report on Wednesday, November 5th. UBS Group dropped their price target on Pinterest from $51.00 to $48.00 and set a “buy” rating for the company in a research report on Wednesday, November 5th. BMO Capital Markets cut their price objective on Pinterest from $41.00 to $35.00 and set an “outperform” rating for the company in a report on Wednesday, November 5th. Wells Fargo & Company lowered their target price on shares of Pinterest from $42.00 to $35.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 5th. Finally, Sanford C. Bernstein dropped their target price on shares of Pinterest from $45.00 to $40.00 and set an “outperform” rating for the company in a research report on Wednesday, November 5th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Pinterest currently has an average rating of “Moderate Buy” and a consensus target price of $38.97.

Insider Transactions at Pinterest

In other Pinterest news, Director Benjamin Silbermann sold 102,083 shares of the stock in a transaction on Wednesday, September 24th. The shares were sold at an average price of $34.86, for a total transaction of $3,558,613.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Wanjiku Juanita Walcott sold 74,047 shares of the business’s stock in a transaction dated Tuesday, November 11th. The shares were 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 owned 301,214 shares in the company, valued at $8,099,644.46. The trade was a 19.73% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 301,042 shares of company stock worth $10,087,667. Insiders own 7.06% of the company’s stock.

About Pinterest

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.