Illinois Municipal Retirement Fund Sells 48,860 Shares of Pinterest, Inc. (NYSE:PINS)

Illinois Municipal Retirement Fund lowered its position in shares of Pinterest, Inc. (NYSE:PINS - Free Report) by 12.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 339,524 shares of the company's stock after selling 48,860 shares during the period. Illinois Municipal Retirement Fund owned 0.05% of Pinterest worth $10,525,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of PINS. Price T Rowe Associates Inc. MD raised its stake in Pinterest by 104.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 25,432,141 shares of the company's stock valued at $737,533,000 after purchasing an additional 12,986,310 shares in the last quarter. Ameriprise Financial Inc. grew its stake in Pinterest by 49.7% in the 4th quarter. Ameriprise Financial Inc. now owns 13,635,800 shares of the company's stock worth $395,441,000 after buying an additional 4,527,902 shares in the last quarter. FMR LLC grew its stake in Pinterest by 2.6% in the 4th quarter. FMR LLC now owns 12,599,356 shares of the company's stock worth $365,381,000 after buying an additional 316,633 shares in the last quarter. Norges Bank purchased a new position in Pinterest in the 4th quarter worth approximately $358,205,000. Finally, Marshall Wace LLP grew its stake in Pinterest by 134.1% in the 4th quarter. Marshall Wace LLP now owns 10,701,783 shares of the company's stock worth $310,352,000 after buying an additional 6,129,985 shares in the last quarter. Institutional investors own 88.81% of the company's stock.

Pinterest Trading Up 2.4%

Shares of PINS stock traded up $0.85 during midday trading on Friday, reaching $35.98. 21,659,312 shares of the stock were exchanged, compared to its average volume of 11,030,618. Pinterest, Inc. has a 1 year low of $23.68 and a 1 year high of $44.06. The firm has a market cap of $24.40 billion, a PE ratio of 13.13, a price-to-earnings-growth ratio of 1.77 and a beta of 0.91. The company's 50 day moving average is $31.25 and its two-hundred day moving average is $31.75.

Pinterest (NYSE:PINS - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.02). The firm had revenue of $854.99 million during the quarter, compared to analysts' expectations of $848.49 million. Pinterest had a return on equity of 8.13% and a net margin of 50.41%. Pinterest's revenue for the quarter was up 15.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.17 earnings per share. As a group, equities analysts expect that Pinterest, Inc. will post 0.6 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on PINS. TD Cowen reduced their target price on Pinterest from $46.00 to $40.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. Wolfe Research raised shares of Pinterest from a "peer perform" rating to an "outperform" rating and set a $40.00 price target for the company in a research note on Thursday, May 15th. Guggenheim cut their price target on shares of Pinterest from $40.00 to $39.00 and set a "buy" rating for the company in a research report on Friday, May 9th. Wedbush reiterated an "outperform" rating and issued a $40.00 price objective (up previously from $38.00) on shares of Pinterest in a report on Friday, May 9th. Finally, Raymond James Financial lowered Pinterest from an "overweight" rating to a "market perform" rating in a research note on Monday, April 7th. Six investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $40.52.

Insider Transactions at Pinterest

In related news, Director Benjamin Silbermann sold 102,083 shares of Pinterest stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $35.99, for a total transaction of $3,673,967.17. Following the completion of the transaction, the director now directly owns 8,414 shares of the company's stock, valued at $302,819.86. This trade represents a 92.39% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Donnelly Julia Brau sold 29,606 shares of the company's stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $34.25, for a total transaction of $1,014,005.50. Following the completion of the sale, the chief financial officer now owns 362,890 shares in the company, valued at approximately $12,428,982.50. This trade represents a 7.54% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,164,852 shares of company stock valued at $38,812,675 in the last three months. 7.06% of the stock is currently owned by company insiders.

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.