Public Employees Retirement Association of Colorado Purchases 57,274 Shares of Pinterest, Inc. (NYSE:PINS)

Public Employees Retirement Association of Colorado raised its stake in Pinterest, Inc. (NYSE:PINSFree Report) by 510.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 68,486 shares of the company’s stock after buying an additional 57,274 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Pinterest were worth $2,537,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new position in Pinterest during the fourth quarter worth $241,229,000. Fred Alger Management LLC grew its stake in shares of Pinterest by 279,496.9% in the third quarter. Fred Alger Management LLC now owns 4,672,065 shares of the company’s stock valued at $126,286,000 after acquiring an additional 4,670,394 shares in the last quarter. Ameriprise Financial Inc. grew its stake in shares of Pinterest by 43.9% in the third quarter. Ameriprise Financial Inc. now owns 11,122,436 shares of the company’s stock valued at $300,639,000 after acquiring an additional 3,390,924 shares in the last quarter. Franklin Resources Inc. grew its stake in shares of Pinterest by 34.0% in the fourth quarter. Franklin Resources Inc. now owns 10,036,837 shares of the company’s stock valued at $371,764,000 after acquiring an additional 2,548,925 shares in the last quarter. Finally, Clearbridge Investments LLC lifted its position in Pinterest by 26.0% during the third quarter. Clearbridge Investments LLC now owns 6,820,443 shares of the company’s stock worth $184,357,000 after purchasing an additional 1,407,793 shares during the period. Institutional investors own 88.81% of the company’s stock.

Pinterest Stock Up 3.2 %

PINS stock opened at $44.11 on Friday. The business has a fifty day moving average of $38.24 and a two-hundred day moving average of $36.78. The stock has a market cap of $30.13 billion, a price-to-earnings ratio of 210.06, a price-to-earnings-growth ratio of 4.39 and a beta of 0.97. Pinterest, Inc. has a 52-week low of $23.59 and a 52-week high of $44.20.

Pinterest (NYSE:PINSGet Free Report) last released its quarterly earnings results on Tuesday, April 30th. The company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.09) by $0.05. The business had revenue of $739.98 million during the quarter, compared to analyst estimates of $699.96 million. Pinterest had a return on equity of 5.93% and a net margin of 4.64%. As a group, sell-side analysts anticipate that Pinterest, Inc. will post 0.43 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on PINS shares. Benchmark reissued a “hold” rating on shares of Pinterest in a report on Wednesday, May 1st. Sanford C. Bernstein raised their price objective on shares of Pinterest from $35.00 to $38.00 and gave the stock a “market perform” rating in a research report on Wednesday, May 1st. Citigroup increased their target price on Pinterest from $48.00 to $51.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Roth Mkm lifted their target price on Pinterest from $38.00 to $40.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $52.00 target price (up previously from $50.00) on shares of Pinterest in a report on Thursday, May 23rd. Eight analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $41.34.

View Our Latest Research Report on Pinterest

Insiders Place Their Bets

In other news, CFO Donnelly Julia Brau sold 65,972 shares of Pinterest stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $34.42, for a total transaction of $2,270,756.24. Following the sale, the chief financial officer now owns 392,829 shares in the company, valued at $13,521,174.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Wanjiku Juanita Walcott sold 11,627 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $41.42, for a total transaction of $481,590.34. Following the sale, the insider now owns 307,256 shares of the company’s stock, valued at approximately $12,726,543.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Donnelly Julia Brau sold 65,972 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $34.42, for a total value of $2,270,756.24. Following the sale, the chief financial officer now directly owns 392,829 shares in the company, valued at approximately $13,521,174.18. The disclosure for this sale can be found here. Insiders sold 133,622 shares of company stock valued at $4,737,421 in the last ninety days. Insiders own 7.11% of the company’s stock.

Pinterest Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Pinterest (NYSE:PINS)

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