State of New Jersey Common Pension Fund D Has $12.51 Million Position in Pinterest, Inc. (NYSE:PINS)

State of New Jersey Common Pension Fund D reduced its holdings in shares of Pinterest, Inc. (NYSE:PINS) by 1.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 337,722 shares of the company’s stock after selling 6,552 shares during the period. State of New Jersey Common Pension Fund D owned about 0.05% of Pinterest worth $12,509,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the business. GAMMA Investing LLC acquired a new position in Pinterest in the fourth quarter valued at about $27,000. Rakuten Securities Inc. acquired a new position in Pinterest in the fourth quarter valued at about $30,000. Washington Trust Advisors Inc. boosted its position in Pinterest by 46.0% in the fourth quarter. Washington Trust Advisors Inc. now owns 1,035 shares of the company’s stock valued at $38,000 after buying an additional 326 shares in the last quarter. Harvest Fund Management Co. Ltd acquired a new position in Pinterest in the fourth quarter valued at about $43,000. Finally, Blue Trust Inc. boosted its position in Pinterest by 87.7% in the fourth quarter. Blue Trust Inc. now owns 1,192 shares of the company’s stock valued at $44,000 after buying an additional 557 shares in the last quarter. 88.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have commented on PINS shares. BMO Capital Markets started coverage on shares of Pinterest in a research report on Tuesday, January 9th. They issued an “outperform” rating and a $45.00 price target on the stock. Argus upgraded shares of Pinterest from a “hold” rating to a “buy” rating and set a $45.00 price target on the stock in a research report on Thursday, January 18th. Royal Bank of Canada upped their target price on shares of Pinterest from $46.00 to $48.00 and gave the stock an “outperform” rating in a research report on Friday, February 9th. Susquehanna upped their target price on shares of Pinterest from $35.00 to $45.00 and gave the stock a “positive” rating in a research report on Friday, February 9th. Finally, JPMorgan Chase & Co. upped their target price on shares of Pinterest from $34.00 to $38.00 and gave the stock a “neutral” rating in a research report on Friday, February 9th. Seven research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $37.68.

Pinterest Stock Performance

NYSE:PINS traded down $0.21 during trading hours on Thursday, hitting $32.64. The stock had a trading volume of 17,084,716 shares, compared to its average volume of 9,510,697. Pinterest, Inc. has a one year low of $20.60 and a one year high of $41.60. The company has a market cap of $22.16 billion, a price-to-earnings ratio of -547.41, a P/E/G ratio of 4.53 and a beta of 0.99. The business’s 50 day moving average is $34.68 and its 200-day moving average is $34.16.

Pinterest (NYSE:PINS) last issued its earnings results on Thursday, February 8th. The company reported $0.29 EPS for the quarter, beating 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 firm had revenue of $981.26 million during the quarter, compared to the consensus estimate of $988.62 million. On average, sell-side analysts anticipate that Pinterest, Inc. will post 0.36 EPS for the current fiscal year.

Insider Transactions at Pinterest

In related news, Director Gokul Rajaram sold 1,934 shares of the stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $34.10, for a total transaction of $65,949.40. Following the completion of the transaction, the director now owns 33,580 shares in the company, valued at $1,145,078. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Donnelly Julia Brau sold 65,972 shares of the stock in a transaction on Monday, March 11th. The shares were 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 owns 392,829 shares in the company, valued at $13,521,174.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gokul Rajaram sold 1,934 shares of the stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $34.10, for a total transaction of $65,949.40. Following the completion of the sale, the director now owns 33,580 shares of the company’s stock, valued at approximately $1,145,078. The disclosure for this sale can be found here. Insiders sold 184,471 shares of company stock valued at $6,525,231 over the last quarter. Corporate insiders own 6.85% of the company’s stock.

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.