New York State Common Retirement Fund Sells 20,700 Shares of Pinterest, Inc. (NYSE:PINS)

New York State Common Retirement Fund trimmed its holdings in Pinterest, Inc. (NYSE:PINS - Free Report) by 6.6% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 293,424 shares of the company's stock after selling 20,700 shares during the period. New York State Common Retirement Fund's holdings in Pinterest were worth $9,096,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Bartlett & CO. Wealth Management LLC bought a new position in shares of Pinterest in the 1st quarter valued at approximately $25,000. Garde Capital Inc. acquired a new position in Pinterest during the first quarter valued at approximately $26,000. NBC Securities Inc. raised its position in shares of Pinterest by 99,900.0% in the first quarter. NBC Securities Inc. now owns 1,000 shares of the company's stock valued at $31,000 after purchasing an additional 999 shares during the period. American National Bank & Trust acquired a new stake in shares of Pinterest in the first quarter worth $32,000. Finally, Golden State Wealth Management LLC lifted its stake in shares of Pinterest by 665.4% in the first quarter. Golden State Wealth Management LLC now owns 1,217 shares of the company's stock worth $38,000 after buying an additional 1,058 shares during the last quarter. 88.81% of the stock is owned by institutional investors.

Pinterest Price Performance

Shares of NYSE PINS opened at $37.24 on Friday. The stock's fifty day moving average price is $34.13 and its two-hundred day moving average price is $32.38. Pinterest, Inc. has a one year low of $23.68 and a one year high of $42.02. The firm has a market cap of $25.26 billion, a price-to-earnings ratio of 13.59, a P/E/G ratio of 1.83 and a beta of 0.94.

Pinterest (NYSE:PINS - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $854.99 million for the quarter, compared to the consensus estimate of $848.49 million. Pinterest had a return on equity of 8.13% and a net margin of 50.41%. Pinterest's quarterly revenue was up 15.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.17 earnings per share. On average, equities analysts anticipate that Pinterest, Inc. will post 0.6 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Pinterest news, Director Jeremy S. Levine sold 6,274 shares of Pinterest stock in a transaction on Friday, June 6th. The shares were sold at an average price of $34.11, for a total value of $214,006.14. Following the completion of the sale, the director directly owned 1,158,833 shares of the company's stock, valued at approximately $39,527,793.63. The trade was a 0.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Donnelly Julia Brau sold 29,606 shares of the 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 transaction, the chief financial officer directly owned 362,890 shares in the company, valued at $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 a total of 1,381,678 shares of company stock valued at $46,988,343 over the last quarter. 7.06% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on PINS. Raymond James Financial lowered shares of Pinterest from an "overweight" rating to a "market perform" rating in a research report on Monday, April 7th. Monness Crespi & Hardt lowered their price target on Pinterest from $50.00 to $40.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. JPMorgan Chase & Co. raised 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. Benchmark decreased their price objective on Pinterest from $55.00 to $45.00 and set a "buy" rating on the stock in a report on Tuesday, May 6th. Finally, Stifel Nicolaus reduced their target price on Pinterest from $50.00 to $36.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. Six investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Pinterest currently has an average rating of "Moderate Buy" and a consensus target price of $41.19.

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.

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