Pinterest, Inc. (NYSE:PINS) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund cut its stake in shares of Pinterest, Inc. (NYSE:PINS) by 11.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 434,862 shares of the company’s stock after selling 54,038 shares during the quarter. New York State Common Retirement Fund’s holdings in Pinterest were worth $16,107,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Fred Alger Management LLC boosted its position in shares of Pinterest by 279,496.9% in the 3rd quarter. Fred Alger Management LLC now owns 4,672,065 shares of the company’s stock worth $126,286,000 after buying an additional 4,670,394 shares in the last quarter. Ameriprise Financial Inc. boosted its position in shares of Pinterest by 43.9% in the 3rd quarter. Ameriprise Financial Inc. now owns 11,122,436 shares of the company’s stock worth $300,639,000 after buying an additional 3,390,924 shares in the last quarter. Clearbridge Investments LLC boosted its position in shares of Pinterest by 26.0% in the 3rd quarter. Clearbridge Investments LLC now owns 6,820,443 shares of the company’s stock worth $184,357,000 after buying an additional 1,407,793 shares in the last quarter. ANTIPODES PARTNERS Ltd purchased a new stake in shares of Pinterest in the 3rd quarter worth about $31,426,000. Finally, Schonfeld Strategic Advisors LLC purchased a new stake in shares of Pinterest in the 3rd quarter worth about $29,759,000. 88.81% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Pinterest

In other news, Director Gokul Rajaram sold 1,934 shares of the stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $34.10, for a total transaction of $65,949.40. Following the completion of the transaction, the director now directly owns 33,580 shares in the company, valued at approximately $1,145,078. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, Director Jeffrey D. Jordan sold 20,000 shares of the firm’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $37.59, for a total transaction of $751,800.00. Following the transaction, the director now directly owns 74,215 shares in the company, valued at $2,789,741.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gokul Rajaram sold 1,934 shares of the firm’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $34.10, for a total value of $65,949.40. Following the transaction, the director now owns 33,580 shares in the company, valued at $1,145,078. The disclosure for this sale can be found here. Insiders sold 184,471 shares of company stock valued at $6,525,231 over the last 90 days. 7.11% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Argus upgraded shares of Pinterest from a “hold” rating to a “buy” rating and set a $45.00 price objective on the stock in a research report on Thursday, January 18th. Piper Sandler restated an “overweight” rating and issued a $48.00 target price on shares of Pinterest in a report on Tuesday, March 26th. Susquehanna upped their target price on shares of Pinterest from $35.00 to $45.00 and gave the company a “positive” rating in a report on Friday, February 9th. KeyCorp reduced their target price on shares of Pinterest from $48.00 to $40.00 and set an “overweight” rating on the stock in a report on Wednesday, April 24th. Finally, Stifel Nicolaus upped their target price on shares of Pinterest from $26.00 to $32.00 and gave the company a “buy” rating in a report on Tuesday, January 9th. Six research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat.com, Pinterest presently has a consensus rating of “Moderate Buy” and an average target price of $38.39.

Pinterest Stock Up 4.0 %

Shares of NYSE:PINS opened at $33.96 on Monday. Pinterest, Inc. has a 52-week low of $20.60 and a 52-week high of $41.60. The company has a 50 day moving average of $34.56 and a two-hundred day moving average of $34.22.

Pinterest (NYSE:PINS) last issued its quarterly earnings data on Thursday, February 8th. The company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.04. Pinterest had a negative net margin of 1.17% and a positive return on equity of 3.83%. The company had revenue of $981.26 million during the quarter, compared to the consensus estimate of $988.62 million. Research analysts anticipate that Pinterest, Inc. will post 0.36 EPS for the current fiscal year.

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.