South Dakota Investment Council Makes New Investment in Pinterest, Inc. $PINS

Key Points

• South Dakota Investment Council purchased 84,600 Pinterest shares in the first quarter, valued at approximately $1.55 million. Institutional investors collectively own 88.81% of the company.
• Pinterest exceeded quarterly expectations with adjusted EPS of $0.27 versus a $0.22 estimate and revenue of $1.01 billion, up 17.8% year over year. Analysts’ average rating remains “Hold,” with an average price target of $27.69.
• Pinterest shares opened at $24.11, while insiders sold 370,720 shares worth approximately $7.89 million over the last quarter, including sales by director Benjamin Silbermann and insider Wanjiku Juanita Walcott.

South Dakota Investment Council purchased a new stake in Pinterest, Inc. (NYSE:PINS - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 84,600 shares of the company's stock, valued at approximately $1,552,000.

Several other large investors have also recently modified their holdings of PINS. Revolve Wealth Partners LLC bought a new stake in shares of Pinterest in the fourth quarter worth $252,000. Integrated Wealth Concepts LLC increased its holdings in Pinterest by 5.9% in the first quarter. Integrated Wealth Concepts LLC now owns 10,943 shares of the company's stock valued at $339,000 after purchasing an additional 607 shares during the period. Empowered Funds LLC raised its position in Pinterest by 45.6% during the 1st quarter. Empowered Funds LLC now owns 15,168 shares of the company's stock worth $470,000 after purchasing an additional 4,748 shares during the last quarter. Sivia Capital Partners LLC raised its position in Pinterest by 39.5% during the 2nd quarter. Sivia Capital Partners LLC now owns 9,347 shares of the company's stock worth $335,000 after purchasing an additional 2,649 shares during the last quarter. Finally, Jump Financial LLC bought a new position in Pinterest during the 2nd quarter worth $696,000. Institutional investors own 88.81% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Oppenheimer upped their price target on Pinterest from $24.00 to $30.00 and gave the company an "outperform" rating in a research report on Tuesday, May 5th. JPMorgan Chase & Co. raised their price objective on Pinterest from $20.00 to $25.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 5th. Mizuho lifted their price objective on Pinterest from $30.00 to $31.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 22nd. TD Cowen reiterated a "buy" rating on shares of Pinterest in a report on Monday, June 22nd. Finally, Morgan Stanley upped their target price on Pinterest from $27.00 to $30.00 and gave the company an "overweight" rating in a report on Tuesday, May 5th. Seventeen investment analysts have rated the stock with a Buy rating and nineteen have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $27.69.

Pinterest Stock Performance

NYSE:PINS opened at $24.11 on Friday. The company has a quick ratio of 4.23, a current ratio of 4.23 and a debt-to-equity ratio of 0.34. Pinterest, Inc. has a twelve month low of $13.84 and a twelve month high of $39.93. The company has a fifty day moving average of $21.70 and a 200-day moving average of $20.58. The firm has a market capitalization of $13.50 billion, a P/E ratio of 50.23, a P/E/G ratio of 1.39 and a beta of 0.89.

Pinterest (NYSE:PINS - Get Free Report) last issued its earnings results on Monday, May 4th. The company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.05. The business had revenue of $1.01 billion for the quarter, compared to analyst estimates of $965.84 million. Pinterest had a net margin of 7.64% and a return on equity of 8.26%. Pinterest's revenue was up 17.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.23 earnings per share. As a group, sell-side analysts anticipate that Pinterest, Inc. will post 0.65 EPS for the current year.

Insider Activity

In other news, Director Benjamin Silbermann sold 46,875 shares of the company's stock in a transaction dated Tuesday, July 21st. The shares were sold at an average price of $22.54, for a total transaction of $1,056,562.50. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Wanjiku Juanita Walcott sold 27,337 shares of the stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $20.46, for a total transaction of $559,315.02. Following the transaction, the insider directly owned 724,673 shares in the company, valued at $14,826,809.58. This trade represents a 3.64% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 370,720 shares of company stock worth $7,892,627 in the last quarter. Company insiders own 8.09% of the company's stock.

Pinterest Profile

Pinterest, Inc operates a visual discovery platform that helps users find inspiration and ideas for projects ranging from home design and fashion to cooking and travel. Users create and curate "Pins" — images or videos linked to content — organized on thematic boards. The service is available through its website and mobile applications and emphasizes personalized recommendations and visual search to surface relevant content based on user interests.

The company's primary revenue model is advertising, offering promoted content formats that integrate into user feeds and search results.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.