New York State Common Retirement Fund Has $16.11 Million Position in Pinterest, Inc. (NYSE:PINS)

New York State Common Retirement Fund decreased its stake in shares of Pinterest, Inc. (NYSE:PINS - Free Report) by 11.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 434,862 shares of the company's stock after selling 54,038 shares during the quarter. New York State Common Retirement Fund owned about 0.06% of Pinterest worth $16,107,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. ARK Investment Management LLC increased its stake in Pinterest by 152.3% during the fourth quarter. ARK Investment Management LLC now owns 1,444,579 shares of the company's stock worth $53,507,000 after acquiring an additional 872,016 shares during the last quarter. Nordea Investment Management AB increased its stake in Pinterest by 57.9% during the fourth quarter. Nordea Investment Management AB now owns 882,233 shares of the company's stock worth $32,766,000 after acquiring an additional 323,547 shares during the last quarter. International Assets Investment Management LLC increased its stake in Pinterest by 3,402.0% during the fourth quarter. International Assets Investment Management LLC now owns 80,266 shares of the company's stock worth $2,973,000 after acquiring an additional 77,974 shares during the last quarter. Acadian Asset Management LLC grew its stake in shares of Pinterest by 53.1% in the third quarter. Acadian Asset Management LLC now owns 3,138,973 shares of the company's stock valued at $84,826,000 after buying an additional 1,089,299 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. raised its holdings in shares of Pinterest by 55.1% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 174,870 shares of the company's stock valued at $6,477,000 after buying an additional 62,117 shares during the period. Hedge funds and other institutional investors own 88.81% of the company's stock.

Insiders Place Their Bets

In other news, CFO Donnelly Julia Brau sold 65,972 shares of the stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $34.42, for a total transaction of $2,270,756.24. Following the completion of the transaction, the chief financial officer now directly owns 392,829 shares of the company's stock, valued at approximately $13,521,174.18. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Pinterest news, CFO Donnelly Julia Brau sold 65,972 shares of the stock in a transaction on Monday, March 11th. The stock was sold at an average price of $34.42, for a total transaction of $2,270,756.24. Following the sale, the chief financial officer now owns 392,829 shares in the company, valued at approximately $13,521,174.18. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Sabrina Ellis sold 24,410 shares of the stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $35.49, for a total value of $866,310.90. Following the sale, 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. In the last ninety days, insiders sold 184,471 shares of company stock valued at $6,525,231. 6.85% of the stock is owned by company insiders.

Pinterest Stock Performance

Pinterest stock traded down $0.15 during mid-day trading on Monday, reaching $33.81. 6,433,737 shares of the company were exchanged, compared to its average volume of 9,514,929. Pinterest, Inc. has a twelve month low of $20.60 and a twelve month high of $41.60. The firm's 50-day simple moving average is $34.56 and its two-hundred day simple moving average is $34.22. The firm has a market cap of $22.96 billion, a PE ratio of -559.17, a price-to-earnings-growth ratio of 4.65 and a beta of 0.99.

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

Analysts Set New Price Targets

Several research firms recently issued reports on PINS. Argus upgraded Pinterest from a "hold" rating to a "buy" rating and set a $45.00 price objective on the stock in a report on Thursday, January 18th. Evercore ISI boosted their price objective on Pinterest from $45.00 to $50.00 and gave the company an "outperform" rating in a report on Friday, January 26th. Roth Mkm upped their price target on Pinterest from $37.00 to $38.00 and gave the stock a "neutral" rating in a report on Friday, February 9th. Piper Sandler restated an "overweight" rating and set a $48.00 price target on shares of Pinterest in a report on Tuesday, March 26th. Finally, Wedbush upped their price target on Pinterest from $35.00 to $38.00 and gave the stock a "neutral" rating in a report on Friday, February 9th. Six analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat, Pinterest presently has an average rating of "Moderate Buy" and an average price target of $38.39.

Pinterest Company 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.