State of New Jersey Common Pension Fund D Trims Stock Position in Pinterest, Inc. (NYSE:PINS)

State of New Jersey Common Pension Fund D reduced its position in shares of Pinterest, Inc. (NYSE:PINSFree Report) by 1.6% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 344,274 shares of the company’s stock after selling 5,606 shares during the quarter. State of New Jersey Common Pension Fund D owned approximately 0.05% of Pinterest worth $9,306,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PINS. Campbell & CO Investment Adviser LLC purchased a new stake in shares of Pinterest in the 3rd quarter worth about $1,551,000. Baltimore Washington Financial Advisors Inc. grew its position in Pinterest by 7.0% during the 3rd quarter. Baltimore Washington Financial Advisors Inc. now owns 95,938 shares of the company’s stock valued at $2,593,000 after purchasing an additional 6,314 shares during the last quarter. Pathstone Family Office LLC purchased a new stake in Pinterest during the 3rd quarter valued at about $406,000. Vanguard Personalized Indexing Management LLC boosted its holdings in shares of Pinterest by 2.7% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 45,142 shares of the company’s stock valued at $1,220,000 after acquiring an additional 1,181 shares during the last quarter. Finally, Van ECK Associates Corp boosted its holdings in shares of Pinterest by 131.4% during the 3rd quarter. Van ECK Associates Corp now owns 100,191 shares of the company’s stock valued at $2,708,000 after acquiring an additional 56,885 shares during the last quarter. 72.63% of the stock is currently owned by institutional investors.

Pinterest Stock Down 9.5 %

NYSE PINS opened at $36.87 on Monday. The company has a fifty day moving average of $37.15 and a two-hundred day moving average of $31.29. The firm has a market capitalization of $24.86 billion, a price-to-earnings ratio of -614.50, a PEG ratio of 3.78 and a beta of 1.02. Pinterest, Inc. has a 52 week low of $20.60 and a 52 week high of $41.60.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Argus raised shares of Pinterest from a “hold” rating to a “buy” rating and set a $45.00 price target on the stock in a report on Thursday, January 18th. BMO Capital Markets started coverage on shares of Pinterest in a report on Tuesday, January 9th. They set an “outperform” rating and a $45.00 price target on the stock. Rosenblatt Securities reiterated a “buy” rating and issued a $45.00 price objective on shares of Pinterest in a research note on Friday. Royal Bank of Canada increased their price objective on shares of Pinterest from $46.00 to $48.00 and gave the stock an “outperform” rating in a research note on Friday. Finally, Morgan Stanley increased their price objective on shares of Pinterest from $24.00 to $25.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 31st. Seven investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $37.52.

Get Our Latest Report on Pinterest

Insiders Place Their Bets

In other news, insider Wanjiku Juanita Walcott sold 11,410 shares of Pinterest stock in a transaction on Monday, November 27th. The stock was sold at an average price of $32.28, for a total transaction of $368,314.80. Following the completion of the sale, the insider now directly owns 216,326 shares in the company, valued at $6,983,003.28. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Director Jeffrey D. Jordan sold 20,000 shares of Pinterest stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $36.29, for a total transaction of $725,800.00. Following the completion of the sale, the director now directly owns 94,215 shares in the company, valued at $3,419,062.35. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Wanjiku Juanita Walcott sold 11,410 shares of Pinterest stock in a transaction dated Monday, November 27th. The shares were sold at an average price of $32.28, for a total value of $368,314.80. Following the completion of the sale, the insider now owns 216,326 shares of the company’s stock, valued at $6,983,003.28. The disclosure for this sale can be found here. Insiders sold 77,737 shares of company stock valued at $2,826,987 over the last three months. 6.85% of the stock is owned by company insiders.

Pinterest Profile

(Free Report)

Pinterest, Inc operates as a visual discovery engine in the United States and internationally. The company's engine allows people to find ideas, such as recipes, home and style inspiration, and others; provides video, product, and idea pins; and offers organizing and planning tools. It shows organic recommendations and advertising engine based on pinners tastes and preferences; and enables pinners with shoppable product pins, which include price, color, and size that redirect to retailer websites.

See Also

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Institutional Ownership by Quarter for Pinterest (NYSE:PINS)

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