Arizona State Retirement System grew its holdings in shares of Pinterest, Inc. (NYSE:PINS – Get Rating) by 4.6% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 164,988 shares of the company’s stock after acquiring an additional 7,194 shares during the period. Arizona State Retirement System’s holdings in Pinterest were worth $4,006,000 as of its most recent SEC filing.
Several other large investors have also recently modified their holdings of the business. Vanguard Group Inc. raised its stake in shares of Pinterest by 3.3% during the third quarter. Vanguard Group Inc. now owns 52,933,876 shares of the company’s stock valued at $1,233,359,000 after acquiring an additional 1,669,577 shares during the last quarter. BlackRock Inc. lifted its holdings in Pinterest by 4.4% in the third quarter. BlackRock Inc. now owns 30,690,599 shares of the company’s stock valued at $715,092,000 after buying an additional 1,285,053 shares during the period. Elliott Investment Management L.P. lifted its holdings in Pinterest by 200.0% in the third quarter. Elliott Investment Management L.P. now owns 15,000,000 shares of the company’s stock valued at $349,500,000 after buying an additional 10,000,000 shares during the period. Macquarie Group Ltd. lifted its holdings in Pinterest by 1.5% in the second quarter. Macquarie Group Ltd. now owns 13,145,182 shares of the company’s stock valued at $238,716,000 after buying an additional 191,507 shares during the period. Finally, State Street Corp increased its stake in Pinterest by 2.0% in the first quarter. State Street Corp now owns 12,143,900 shares of the company’s stock valued at $298,861,000 after purchasing an additional 235,403 shares in the last quarter. Institutional investors own 71.95% of the company’s stock.
Pinterest Price Performance
Shares of NYSE:PINS opened at $21.01 on Monday. Pinterest, Inc. has a 1 year low of $16.14 and a 1 year high of $29.27. The company has a market cap of $14.37 billion, a PE ratio of -46.69 and a beta of 0.99. The stock’s 50-day moving average is $26.24 and its 200 day moving average is $25.25.
Insider Activity at Pinterest
In related news, CFO Todd R. Morgenfeld sold 60,537 shares of the business’s stock in a transaction dated Monday, March 27th. The stock was sold at an average price of $28.32, for a total transaction of $1,714,407.84. Following the transaction, the chief financial officer now owns 512,820 shares in the company, valued at approximately $14,523,062.40. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Pinterest news, CFO Todd R. Morgenfeld sold 60,537 shares of Pinterest stock in a transaction that occurred on Monday, March 27th. The stock was sold at an average price of $28.32, for a total transaction of $1,714,407.84. Following the sale, the chief financial officer now directly owns 512,820 shares of the company’s stock, valued at approximately $14,523,062.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Jeffrey D. Jordan sold 5,000 shares of Pinterest stock in a transaction that occurred on Monday, May 1st. The shares were sold at an average price of $23.04, for a total value of $115,200.00. Following the sale, the director now directly owns 186,715 shares in the company, valued at $4,301,913.60. The disclosure for this sale can be found here. Insiders have sold a total of 139,463 shares of company stock worth $3,844,970 in the last 90 days. Company insiders own 6.85% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities research analysts have weighed in on the stock. Bank of America decreased their price target on shares of Pinterest from $30.00 to $29.00 in a research note on Friday, April 28th. UBS Group decreased their target price on shares of Pinterest from $35.00 to $34.00 and set a “buy” rating for the company in a research report on Friday, April 28th. JPMorgan Chase & Co. decreased their target price on shares of Pinterest from $27.00 to $26.00 and set a “neutral” rating for the company in a research report on Friday, April 28th. Royal Bank of Canada reduced their price objective on shares of Pinterest from $30.00 to $28.00 and set a “sector perform” rating for the company in a research report on Friday, April 28th. Finally, Robert W. Baird reduced their price objective on shares of Pinterest from $31.00 to $30.00 and set an “outperform” rating for the company in a research report on Friday, April 28th. Twelve research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $28.40.
Pinterest Company Profile
Pinterest, Inc engages in the operation of a pinboard-style photo-sharing website. It allows users to create and manage theme-based image collections such as events, interests, and hobbies. The company was founded by Benjamin Silbermann, Paul C. Sciarra, and Evan Sharp in October 2008 and is headquartered in San Francisco, CA.
Further Reading
- Get a free copy of the StockNews.com research report on Pinterest (PINS)
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