Illinois Municipal Retirement Fund Increases Stock Position in Pinterest, Inc. (NYSE:PINS)

Illinois Municipal Retirement Fund grew its position in Pinterest, Inc. (NYSE:PINS) by 11.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 397,850 shares of the company’s stock after acquiring an additional 42,146 shares during the period. Illinois Municipal Retirement Fund’s holdings in Pinterest were worth $17,533,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Corient Private Wealth LLC grew its position in shares of Pinterest by 56.7% in the fourth quarter. Corient Private Wealth LLC now owns 96,380 shares of the company’s stock valued at $3,570,000 after purchasing an additional 34,876 shares during the period. Mitsubishi UFJ Trust & Banking Corp lifted its position in shares of Pinterest by 13.0% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 447,148 shares of the company’s stock valued at $15,598,000 after acquiring an additional 51,455 shares in the last quarter. Contrarius Investment Management Ltd increased its position in shares of Pinterest by 300.0% during the fourth quarter. Contrarius Investment Management Ltd now owns 1,722,412 shares of the company’s stock worth $63,798,000 after purchasing an additional 1,291,854 shares in the last quarter. Teachers Retirement System of The State of Kentucky raised its stake in Pinterest by 10.5% in the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 231,822 shares of the company’s stock valued at $8,586,000 after purchasing an additional 22,101 shares during the last quarter. Finally, Deltec Asset Management LLC purchased a new position in Pinterest in the 1st quarter valued at $6,449,000. 88.81% of the stock is owned by hedge funds and other institutional investors.

Pinterest Stock Down 5.1 %

Pinterest stock traded down $1.56 during mid-day trading on Friday, reaching $29.25. 11,348,951 shares of the company’s stock were exchanged, compared to its average volume of 9,739,146. Pinterest, Inc. has a twelve month low of $23.59 and a twelve month high of $45.19. The company has a market cap of $20.07 billion, a P/E ratio of 139.24, a P/E/G ratio of 3.57 and a beta of 1.00. The company has a fifty day moving average of $35.56 and a 200-day moving average of $37.22.

Pinterest (NYSE:PINS) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.01. Pinterest had a return on equity of 6.94% and a net margin of 5.75%. The business had revenue of $853.68 million for the quarter, compared to analysts’ expectations of $848.75 million. During the same period last year, the firm earned ($0.04) earnings per share. The company’s revenue for the quarter was up 20.6% compared to the same quarter last year. Equities research analysts expect that Pinterest, Inc. will post 0.39 earnings per share for the current fiscal year.

Insider Activity

In other news, CAO Andrea Acosta sold 2,564 shares of the firm’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $45.00, for a total value of $115,380.00. Following the sale, the chief accounting officer now directly owns 186,906 shares in the company, valued at approximately $8,410,770. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CAO Andrea Acosta sold 2,564 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $45.00, for a total transaction of $115,380.00. Following the completion of the sale, the chief accounting officer now owns 186,906 shares in the company, valued at $8,410,770. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Donnelly Julia Brau sold 30,280 shares of the stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $44.38, for a total transaction of $1,343,826.40. Following the completion of the transaction, the chief financial officer now owns 362,822 shares in the company, valued at $16,102,040.36. The disclosure for this sale can be found here. In the last quarter, insiders sold 36,689 shares of company stock worth $1,628,002. 7.11% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on PINS shares. Raymond James lowered their price target on shares of Pinterest from $45.00 to $40.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 31st. Cantor Fitzgerald began coverage on Pinterest in a report on Thursday. They issued an “overweight” rating and a $41.00 price target for the company. Roth Mkm lowered their price objective on Pinterest from $40.00 to $39.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 31st. Evercore ISI dropped their target price on Pinterest from $50.00 to $48.00 and set an “outperform” rating for the company in a report on Wednesday, July 31st. Finally, Wells Fargo & Company lowered their price target on shares of Pinterest from $49.00 to $41.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 31st. Eight equities research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $42.65.

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.