Public Employees Retirement Association of Colorado Sells 1,476 Shares of Pinterest, Inc. (NYSE:PINS)

Public Employees Retirement Association of Colorado reduced its position in Pinterest, Inc. (NYSE:PINS) by 2.3% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 61,620 shares of the company’s stock after selling 1,476 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Pinterest were worth $2,716,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Benjamin F. Edwards & Company Inc. increased its holdings in shares of Pinterest by 337.1% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 30,631 shares of the company’s stock valued at $1,350,000 after purchasing an additional 23,623 shares during the last quarter. Mark Sheptoff Financial Planning LLC bought a new stake in shares of Pinterest during the second quarter worth approximately $137,000. Hsbc Holdings PLC increased its stake in shares of Pinterest by 28.8% during the second quarter. Hsbc Holdings PLC now owns 479,080 shares of the company’s stock worth $21,113,000 after purchasing an additional 107,096 shares during the period. Vanguard Personalized Indexing Management LLC lifted its holdings in Pinterest by 7.5% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 55,990 shares of the company’s stock worth $2,445,000 after purchasing an additional 3,904 shares during the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. boosted its stake in Pinterest by 41.4% in the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 92,422 shares of the company’s stock valued at $4,073,000 after purchasing an additional 27,081 shares during the period. Institutional investors and hedge funds own 88.81% of the company’s stock.

Insider Activity at Pinterest

In other Pinterest news, CFO Donnelly Julia Brau sold 30,280 shares of the firm’s stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $44.38, for a total value of $1,343,826.40. Following the completion of the sale, the chief financial officer now directly owns 362,822 shares in the company, valued at $16,102,040.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 7.11% of the stock is owned by corporate insiders.

Pinterest Stock Performance

Shares of NYSE:PINS opened at $30.45 on Tuesday. Pinterest, Inc. has a 52 week low of $23.59 and a 52 week high of $45.19. The firm has a market cap of $20.80 billion, a PE ratio of 145.00, a price-to-earnings-growth ratio of 3.22 and a beta of 1.00. The firm’s fifty day moving average is $32.36 and its 200-day moving average is $36.71.

Pinterest (NYSE:PINS) last released its quarterly earnings results on Tuesday, July 30th. The company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.01. The firm had revenue of $853.68 million during the quarter, compared to analyst estimates of $848.75 million. Pinterest had a net margin of 5.75% and a return on equity of 6.94%. The company’s revenue was up 20.6% compared to the same quarter last year. During the same quarter last year, the business earned ($0.04) EPS. Sell-side analysts forecast that Pinterest, Inc. will post 0.39 EPS for the current year.

Analysts Set New Price Targets

PINS has been the subject of a number of research reports. Roth Mkm dropped their target price on Pinterest from $40.00 to $39.00 and set a “neutral” rating for the company in a report on Wednesday, July 31st. Citigroup cut their price target on Pinterest from $51.00 to $44.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Barclays dropped their price objective on Pinterest from $38.00 to $36.00 and set an “equal weight” rating for the company in a report on Wednesday, July 31st. Evercore ISI reduced their target price on Pinterest from $50.00 to $48.00 and set an “outperform” rating on the stock in a report on Wednesday, July 31st. Finally, UBS Group cut their price objective on shares of Pinterest from $57.00 to $52.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. Eight equities research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $42.79.

Pinterest Profile

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.