California Public Employees Retirement System Has $38.84 Million Stock Holdings in Pinterest, Inc. (NYSE:PINS)

California Public Employees Retirement System cut its stake in shares of Pinterest, Inc. (NYSE:PINS) by 3.6% during the fourth quarter, Holdings Channel reports. The firm owned 1,048,627 shares of the company’s stock after selling 39,206 shares during the quarter. California Public Employees Retirement System’s holdings in Pinterest were worth $38,841,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of PINS. Venture Visionary Partners LLC grew its holdings in shares of Pinterest by 0.7% during the fourth quarter. Venture Visionary Partners LLC now owns 49,028 shares of the company’s stock valued at $1,816,000 after buying an additional 324 shares in the last quarter. Washington Trust Advisors Inc. grew its holdings in shares of Pinterest by 46.0% during the fourth quarter. Washington Trust Advisors Inc. now owns 1,035 shares of the company’s stock valued at $38,000 after buying an additional 326 shares in the last quarter. Creative Financial Designs Inc. ADV grew its holdings in shares of Pinterest by 0.8% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 45,922 shares of the company’s stock valued at $1,701,000 after buying an additional 348 shares in the last quarter. Allworth Financial LP grew its holdings in shares of Pinterest by 17.7% during the fourth quarter. Allworth Financial LP now owns 2,856 shares of the company’s stock valued at $106,000 after buying an additional 430 shares in the last quarter. Finally, Blair William & Co. IL grew its holdings in shares of Pinterest by 4.8% during the third quarter. Blair William & Co. IL now owns 10,139 shares of the company’s stock valued at $274,000 after buying an additional 466 shares in the last quarter. 88.81% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Pinterest news, Director Gokul Rajaram sold 1,934 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $34.10, for a total transaction of $65,949.40. Following the completion of the sale, the director now directly owns 33,580 shares in the company, valued at $1,145,078. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Gokul Rajaram sold 1,934 shares of the business’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $34.10, for a total value of $65,949.40. Following the sale, the director now owns 33,580 shares of the company’s stock, valued at $1,145,078. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Jeffrey D. Jordan sold 20,000 shares of the business’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 completion of the sale, the director now directly owns 74,215 shares in the company, valued at approximately $2,789,741.85. The disclosure for this sale can be found here. Insiders sold 184,471 shares of company stock worth $6,525,231 over the last three months. Insiders own 6.85% of the company’s stock.

Wall Street Analyst Weigh In

PINS has been the topic of a number of recent research reports. Piper Sandler restated an “overweight” rating and issued a $48.00 target price on shares of Pinterest in a research note on Tuesday, March 26th. Wedbush upped their price target on Pinterest from $35.00 to $38.00 and gave the stock a “neutral” rating in a research note on Friday, February 9th. Evercore ISI upped their price target on Pinterest from $45.00 to $50.00 and gave the stock an “outperform” rating in a research note on Friday, January 26th. KeyCorp cut their price objective on Pinterest from $48.00 to $40.00 and set an “overweight” rating for the company in a research report on Wednesday. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $45.00 price objective on shares of Pinterest in a research report on Friday, February 9th. Seven investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $37.68.

Pinterest Stock Performance

Pinterest stock opened at $33.97 on Friday. The stock has a 50-day simple moving average of $34.56 and a 200 day simple moving average of $34.14. The stock has a market capitalization of $23.06 billion, a P/E ratio of -566.07, a PEG ratio of 4.47 and a beta of 0.99. Pinterest, Inc. has a 52 week low of $20.60 and a 52 week high of $41.60.

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, topping the consensus estimate of $0.25 by $0.04. The firm had revenue of $981.26 million during the quarter, compared to the consensus estimate of $988.62 million. Pinterest had a negative net margin of 1.17% and a positive return on equity of 3.83%. Research analysts forecast that Pinterest, Inc. will post 0.36 earnings per share for the current year.

Pinterest Company 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.