California Public Employees Retirement System Trims Stock Holdings in Pinterest, Inc. $PINS

California Public Employees Retirement System reduced its holdings in shares of Pinterest, Inc. (NYSE:PINS) by 3.7% in the first quarter, Holdings Channel.com reports. The fund owned 1,020,542 shares of the company’s stock after selling 39,564 shares during the quarter. California Public Employees Retirement System’s holdings in Pinterest were worth $18,717,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Elevated Capital Advisors LLC bought a new position in Pinterest in the 4th quarter valued at $26,000. Caitong International Asset Management Co. Ltd lifted its position in shares of Pinterest by 2,017.3% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,101 shares of the company’s stock worth $29,000 after purchasing an additional 1,049 shares during the last quarter. Addison Advisors LLC boosted its stake in shares of Pinterest by 727.3% during the fourth quarter. Addison Advisors LLC now owns 1,365 shares of the company’s stock valued at $35,000 after purchasing an additional 1,200 shares during the period. Garner Asset Management Corp purchased a new stake in shares of Pinterest during the fourth quarter valued at $36,000. Finally, Summit Securities Group LLC purchased a new stake in shares of Pinterest during the first quarter valued at $43,000. Hedge funds and other institutional investors own 88.81% of the company’s stock.

Pinterest Price Performance

PINS opened at $22.00 on Friday. The company has a market capitalization of $12.32 billion, a price-to-earnings ratio of 45.83, a PEG ratio of 1.28 and a beta of 0.89. The company has a current ratio of 4.23, a quick ratio of 4.23 and a debt-to-equity ratio of 0.34. Pinterest, Inc. has a 12-month low of $13.84 and a 12-month high of $39.93. The business’s fifty day simple moving average is $21.14 and its 200-day simple moving average is $20.67.

Pinterest (NYSE:PINS) last released its quarterly earnings data on Monday, May 4th. The company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.05. Pinterest had a return on equity of 8.26% and a net margin of 7.64%.The firm 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. The firm’s quarterly revenue was up 17.8% on a year-over-year basis. On average, equities research analysts anticipate that Pinterest, Inc. will post 0.65 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently commented on PINS. Evercore set a $27.00 price target on shares of Pinterest in a research note on Tuesday, May 5th. Weiss Ratings reissued a “sell (d+)” rating on shares of Pinterest in a research report on Tuesday, June 30th. Oppenheimer upped their target price on shares of Pinterest from $24.00 to $30.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 5th. Benchmark reduced their target price on shares of Pinterest from $34.00 to $33.00 and set a “buy” rating on the stock in a research report on Thursday, April 30th. Finally, Stifel Nicolaus raised their target price on shares of Pinterest from $25.00 to $27.00 and gave the stock a “buy” rating in a research report on Tuesday, May 5th. 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 company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $27.69.

Insider Transactions at Pinterest

In other Pinterest news, insider Wanjiku Juanita Walcott sold 27,337 shares of the firm’s stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $20.46, for a total transaction of $559,315.02. Following the transaction, the insider owned 724,673 shares of the company’s stock, valued at approximately $14,826,809.58. This trade represents a 3.64% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Benjamin Silbermann sold 46,875 shares of the business’s stock in a transaction dated Tuesday, July 7th. The shares were 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 in the last three months. Insiders own 8.09% of the company’s stock.

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.