Teacher Retirement System of Texas Invests $23.45 Million in Pinterest, Inc. (NYSE:PINS)

Teacher Retirement System of Texas purchased a new stake in shares of Pinterest, Inc. (NYSE:PINS - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 756,461 shares of the company's stock, valued at approximately $23,450,000. Teacher Retirement System of Texas owned 0.11% of Pinterest at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. Janney Montgomery Scott LLC lifted its position in shares of Pinterest by 73.9% in the first quarter. Janney Montgomery Scott LLC now owns 89,034 shares of the company's stock worth $2,760,000 after buying an additional 37,829 shares during the last quarter. Jones Financial Companies Lllp boosted its holdings in shares of Pinterest by 91.3% during the 4th quarter. Jones Financial Companies Lllp now owns 24,993 shares of the company's stock worth $725,000 after buying an additional 11,925 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in Pinterest by 21.1% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 112,201 shares of the company's stock worth $3,478,000 after acquiring an additional 19,552 shares during the period. Revolve Wealth Partners LLC bought a new stake in Pinterest during the fourth quarter valued at about $252,000. Finally, Farther Finance Advisors LLC increased its stake in shares of Pinterest by 642.8% in the first quarter. Farther Finance Advisors LLC now owns 9,404 shares of the company's stock worth $292,000 after purchasing an additional 8,138 shares during the period. Hedge funds and other institutional investors own 88.81% of the company's stock.

Pinterest Stock Performance

Shares of PINS stock remained flat at $35.74 during trading hours on Friday. 4,177,615 shares of the stock were exchanged, compared to its average volume of 11,049,742. Pinterest, Inc. has a 12 month low of $23.68 and a 12 month high of $44.06. The business has a fifty day moving average price of $32.30 and a two-hundred day moving average price of $31.91. The firm has a market cap of $24.24 billion, a P/E ratio of 13.04, a price-to-earnings-growth ratio of 1.76 and a beta of 0.94.

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

Analyst Ratings Changes

PINS has been the subject of a number of research analyst reports. KeyCorp upped their price target on Pinterest from $37.00 to $40.00 and gave the stock an "overweight" rating in a report on Friday, May 9th. Oppenheimer upped their target price on shares of Pinterest from $36.00 to $40.00 and gave the company an "outperform" rating in a research note on Friday, May 9th. Wolfe Research upgraded shares of Pinterest from a "peer perform" rating to an "outperform" rating and set a $40.00 price target on the stock in a research report on Thursday, May 15th. Wells Fargo & Company set a $42.00 price objective on shares of Pinterest and gave the company an "overweight" rating in a research report on Tuesday. Finally, The Goldman Sachs Group decreased their target price on Pinterest from $47.00 to $40.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Six equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. According to data from MarketBeat, Pinterest presently has a consensus rating of "Moderate Buy" and a consensus target price of $40.52.

Insider Activity at Pinterest

In other Pinterest news, Director Jeremy S. Levine sold 6,274 shares of the business's stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $34.11, for a total value of $214,006.14. Following the sale, the director owned 1,158,833 shares in the company, valued at approximately $39,527,793.63. The trade was a 0.54% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Andrea Acosta sold 3,759 shares of the firm's stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $31.86, for a total value of $119,761.74. Following the completion of the transaction, the chief accounting officer owned 171,373 shares of the company's stock, valued at $5,459,943.78. The trade was a 2.15% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,176,362 shares of company stock valued at $39,645,976 over the last 90 days. Insiders own 7.06% of the company's stock.

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.