California Public Employees Retirement System Lowers Stock Holdings in Pinterest, Inc. (NYSE:PINS)

California Public Employees Retirement System trimmed its holdings in shares of Pinterest, Inc. (NYSE:PINS - Free Report) by 3.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,048,627 shares of the company's stock after selling 39,206 shares during the period. California Public Employees Retirement System owned about 0.16% of Pinterest worth $38,841,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Rakuten Securities Inc. purchased a new stake in shares of Pinterest during the fourth quarter worth about $30,000. Washington Trust Advisors Inc. boosted its holdings in shares of Pinterest by 46.0% during the fourth quarter. Washington Trust Advisors Inc. now owns 1,035 shares of the company's stock worth $38,000 after purchasing an additional 326 shares during the period. Clear Street Markets LLC purchased a new stake in shares of Pinterest during the third quarter worth about $41,000. Blue Trust Inc. boosted its holdings in shares of Pinterest by 87.7% during the fourth quarter. Blue Trust Inc. now owns 1,192 shares of the company's stock worth $44,000 after purchasing an additional 557 shares during the period. Finally, Global Retirement Partners LLC raised its stake in Pinterest by 396.2% in the fourth quarter. Global Retirement Partners LLC now owns 1,300 shares of the company's stock worth $48,000 after buying an additional 1,038 shares in the last quarter. 88.81% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PINS has been the subject of a number of research reports. Stifel Nicolaus increased their price target on shares of Pinterest from $26.00 to $32.00 and gave the stock a "buy" rating in a research note on Tuesday, January 9th. Royal Bank of Canada increased their price target on shares of Pinterest from $46.00 to $48.00 and gave the stock an "outperform" rating in a research note on Friday, February 9th. KeyCorp decreased their price target on shares of Pinterest from $48.00 to $40.00 and set an "overweight" rating for the company in a research note on Wednesday. Roth Mkm increased their price target on shares of Pinterest from $37.00 to $38.00 and gave the stock a "neutral" rating in a research note on Friday, February 9th. Finally, Rosenblatt Securities reissued a "buy" rating and issued a $45.00 price target on shares of Pinterest in a research note on Friday, February 9th. Seven equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat, Pinterest has a consensus rating of "Moderate Buy" and a consensus price target of $37.68.

Insider Buying and Selling

In related news, Director Jeffrey D. Jordan sold 20,000 shares of the firm's stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $37.59, for a total value of $751,800.00. Following the sale, the director now owns 74,215 shares in the company, valued at $2,789,741.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Jeffrey D. Jordan sold 20,000 shares of Pinterest stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $37.59, for a total transaction of $751,800.00. Following the transaction, the director now owns 74,215 shares in the company, valued at approximately $2,789,741.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Sabrina Ellis sold 24,410 shares of Pinterest stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $35.49, for a total transaction of $866,310.90. Following the transaction, the insider now owns 500,504 shares in the company, valued at approximately $17,762,886.96. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 184,471 shares of company stock worth $6,525,231. 6.85% of the stock is owned by insiders.

Pinterest Trading Up 4.0 %

PINS stock traded up $1.32 on Friday, hitting $33.96. The company had a trading volume of 12,886,057 shares, compared to its average volume of 6,671,289. Pinterest, Inc. has a 12-month low of $20.60 and a 12-month high of $41.60. The stock's 50-day simple moving average is $34.56 and its 200 day simple moving average is $34.19. The stock has a market cap of $23.06 billion, a price-to-earnings ratio of -565.91, a P/E/G ratio of 4.47 and a beta of 0.99.

Pinterest (NYSE:PINS - Get Free Report) last issued its earnings results on Thursday, February 8th. The company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.04. Pinterest had a negative net margin of 1.17% and a positive return on equity of 3.83%. The company had revenue of $981.26 million for the quarter, compared to analysts' expectations of $988.62 million. Research analysts forecast that Pinterest, Inc. will post 0.36 earnings per share for the current year.

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.