40,350 Shares in Pinterest, Inc. (NYSE:PINS) Bought by Kentucky Retirement Systems

Kentucky Retirement Systems acquired a new position in shares of Pinterest, Inc. (NYSE:PINS - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 40,350 shares of the company's stock, valued at approximately $1,251,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Inlight Wealth Management LLC bought a new position in Pinterest in the 1st quarter valued at about $55,000. Garde Capital Inc. acquired a new stake in shares of Pinterest in the 1st quarter worth approximately $26,000. Praxis Investment Management Inc. boosted its holdings in shares of Pinterest by 24.0% in the first quarter. Praxis Investment Management Inc. now owns 22,240 shares of the company's stock valued at $689,000 after acquiring an additional 4,310 shares in the last quarter. Janney Capital Management LLC increased its stake in shares of Pinterest by 93.7% during the first quarter. Janney Capital Management LLC now owns 286,518 shares of the company's stock valued at $8,882,000 after acquiring an additional 138,616 shares during the period. Finally, FNY Investment Advisers LLC raised its holdings in Pinterest by 824.5% during the first quarter. FNY Investment Advisers LLC now owns 2,755 shares of the company's stock worth $85,000 after purchasing an additional 2,457 shares in the last quarter. 88.81% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CAO Andrea Acosta sold 3,759 shares of Pinterest stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $31.86, for a total transaction of $119,761.74. Following the completion of the transaction, the chief accounting officer now directly owns 171,373 shares in the company, valued at approximately $5,459,943.78. The trade was a 2.15% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Benjamin Silbermann sold 102,083 shares of Pinterest stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $34.82, for a total transaction of $3,554,530.06. Following the transaction, the director now directly owns 8,414 shares of the company's stock, valued at approximately $292,975.48. This trade represents a 92.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,045,416 shares of company stock worth $34,519,739. Corporate insiders own 7.11% of the company's stock.

Analyst Ratings Changes

PINS has been the subject of a number of research reports. Wedbush reaffirmed an "outperform" rating and set a $40.00 price target (up from $38.00) on shares of Pinterest in a research note on Friday, May 9th. Citigroup raised their target price on Pinterest from $41.00 to $44.00 and gave the company a "buy" rating in a research note on Tuesday. Wolfe Research raised Pinterest from a "peer perform" rating to an "outperform" rating and set a $40.00 target price on the stock in a report on Thursday, May 15th. JPMorgan Chase & Co. raised shares of Pinterest from a "neutral" rating to an "overweight" rating and upped their price target for the company from $35.00 to $40.00 in a report on Tuesday, June 3rd. Finally, KeyCorp lifted their price objective on shares of Pinterest from $37.00 to $40.00 and gave the stock an "overweight" rating in a research note on Friday, May 9th. Six equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $40.52.

Pinterest Stock Performance

Shares of PINS stock traded down $0.37 during mid-day trading on Wednesday, reaching $35.37. The company's stock had a trading volume of 7,437,103 shares, compared to its average volume of 10,924,645. The company has a market cap of $23.99 billion, a P/E ratio of 12.91, a PEG ratio of 1.68 and a beta of 0.91. The firm's 50-day moving average is $30.64 and its two-hundred day moving average is $31.67. Pinterest, Inc. has a 1-year low of $23.68 and a 1-year high of $45.19.

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

About Pinterest

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.