Louisiana State Employees Retirement System Buys New Stake in Pinterest, Inc. $PINS

Louisiana State Employees Retirement System bought a new position in shares of Pinterest, Inc. (NYSE:PINS) during the first quarter, Holdings Channel.com reports. The fund bought 169,800 shares of the company’s stock, valued at approximately $3,114,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Elevated Capital Advisors LLC acquired a new position in shares of Pinterest in the 4th quarter valued at $26,000. Caitong International Asset Management Co. Ltd boosted its stake in Pinterest by 2,017.3% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,101 shares of the company’s stock worth $29,000 after purchasing an additional 1,049 shares during the period. Addison Advisors LLC grew its position in Pinterest by 727.3% during the 4th quarter. Addison Advisors LLC now owns 1,365 shares of the company’s stock worth $35,000 after purchasing an additional 1,200 shares during the last quarter. Garner Asset Management Corp purchased a new position in Pinterest during the 4th quarter worth $36,000. Finally, MidFirst Bank purchased a new position in Pinterest during the 4th quarter worth $44,000. 88.81% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Pinterest

In other news, insider Wanjiku Juanita Walcott sold 27,337 shares of Pinterest stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $20.46, for a total value of $559,315.02. Following the transaction, the insider directly owned 724,673 shares of the company’s stock, valued at $14,826,809.58. The trade was a 3.64% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Benjamin Silbermann sold 46,875 shares of Pinterest stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of $19.99, for a total transaction of $937,031.25. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 232,195 shares of company stock worth $4,811,815 in the last three months. Company insiders own 8.09% of the company’s stock.

Pinterest Stock Down 0.1%

PINS stock opened at $20.79 on Monday. The company has a debt-to-equity ratio of 0.34, a current ratio of 4.23 and a quick ratio of 4.23. The company’s 50 day simple moving average is $20.37 and its 200-day simple moving average is $21.17. Pinterest, Inc. has a 12 month low of $13.84 and a 12 month high of $39.93. The firm has a market capitalization of $11.65 billion, a PE ratio of 43.31, a P/E/G ratio of 1.19 and a beta of 0.92.

Pinterest (NYSE:PINS) last posted its quarterly earnings data on Monday, May 4th. The company reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.05. The firm had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $965.84 million. Pinterest had a return on equity of 8.26% and a net margin of 7.64%.The firm’s quarterly revenue was up 17.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.23 EPS. Equities analysts expect that Pinterest, Inc. will post 0.65 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

PINS has been the topic of several recent research reports. TD Cowen restated a “buy” rating on shares of Pinterest in a research report on Monday, June 22nd. Argus downgraded Pinterest from a “buy” rating to a “hold” rating in a research note on Monday, March 2nd. Citigroup boosted their target price on Pinterest from $19.00 to $25.00 and gave the company a “neutral” rating in a report on Tuesday, May 5th. Guggenheim restated a “buy” rating and set a $24.00 price target on shares of Pinterest in a research note on Monday, June 15th. Finally, Weiss Ratings downgraded Pinterest from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, April 2nd. Sixteen equities research analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Pinterest has an average rating of “Hold” and a consensus target price of $27.40.

Pinterest Profile

Pinterest, Inc operates a visual discovery platform that helps users find inspiration and ideas for projects ranging from home design and fashion to cooking and travel. Users create and curate “Pins” — images or videos linked to content — organized on thematic boards. The service is available through its website and mobile applications and emphasizes personalized recommendations and visual search to surface relevant content based on user interests.

The company’s primary revenue model is advertising, offering promoted content formats that integrate into user feeds and search results.