Illinois Municipal Retirement Fund Sells 48,279 Shares of Pinterest, Inc. (NYSE:PINS)

Illinois Municipal Retirement Fund lessened its holdings in Pinterest, Inc. (NYSE:PINS) by 12.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 351,203 shares of the company’s stock after selling 48,279 shares during the quarter. Illinois Municipal Retirement Fund owned 0.05% of Pinterest worth $13,009,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently modified their holdings of the stock. OLD National Bancorp IN grew its position in shares of Pinterest by 1.9% during the 4th quarter. OLD National Bancorp IN now owns 409,838 shares of the company’s stock valued at $15,180,000 after acquiring an additional 7,604 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in shares of Pinterest by 4.4% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 88,980 shares of the company’s stock worth $3,296,000 after purchasing an additional 3,734 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd lifted its position in shares of Pinterest by 10.8% during the 4th quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 20,239 shares of the company’s stock worth $750,000 after buying an additional 1,970 shares during the last quarter. Signaturefd LLC lifted its stake in shares of Pinterest by 46.1% in the 4th quarter. Signaturefd LLC now owns 10,141 shares of the company’s stock worth $376,000 after acquiring an additional 3,202 shares during the period. Finally, Lindbrook Capital LLC grew its holdings in Pinterest by 29.4% during the 4th quarter. Lindbrook Capital LLC now owns 2,223 shares of the company’s stock valued at $82,000 after buying an additional 505 shares during the last quarter. Institutional investors own 88.81% of the company’s stock.

Insider Transactions at Pinterest

In other Pinterest news, Director Gokul Rajaram sold 1,934 shares of Pinterest stock in a transaction dated 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 directly owns 33,580 shares in the company, valued at $1,145,078. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director Gokul Rajaram sold 1,934 shares of the firm’s stock in a transaction that occurred 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 $1,145,078. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jeffrey D. Jordan sold 20,000 shares of Pinterest stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $35.08, for a total transaction of $701,600.00. Following the completion of the transaction, the director now directly owns 34,215 shares in the company, valued at $1,200,262.20. The disclosure for this sale can be found here. Insiders have sold 184,471 shares of company stock valued at $6,525,231 in the last 90 days. 6.85% of the stock is currently owned by company insiders.

Pinterest Stock Performance

Shares of Pinterest stock traded up $0.37 during trading hours on Tuesday, reaching $33.10. The company’s stock had a trading volume of 1,828,182 shares, compared to its average volume of 9,380,137. Pinterest, Inc. has a one year low of $20.60 and a one year high of $41.60. The stock’s fifty day simple moving average is $34.79 and its two-hundred day simple moving average is $34.08. The company has a market capitalization of $22.47 billion, a P/E ratio of 216.00, a P/E/G ratio of 4.44 and a beta of 0.99.

Pinterest (NYSE:PINS) last released its quarterly earnings data on Thursday, February 8th. The company reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.04. The business had revenue of $981.26 million during the quarter, compared to analyst estimates of $988.62 million. Pinterest had a negative net margin of 1.17% and a positive return on equity of 3.83%. As a group, research analysts forecast that Pinterest, Inc. will post 0.36 earnings per share for the current year.

Analyst Upgrades and Downgrades

PINS has been the subject of a number of research analyst reports. Rosenblatt Securities restated a “buy” rating and issued a $45.00 target price on shares of Pinterest in a research report on Friday, February 9th. Roth Mkm upped their price objective on shares of Pinterest from $37.00 to $38.00 and gave the company a “neutral” rating in a report on Friday, February 9th. Susquehanna boosted their price objective on shares of Pinterest from $35.00 to $45.00 and gave the stock a “positive” rating in a research note on Friday, February 9th. Royal Bank of Canada raised their target price on Pinterest from $46.00 to $48.00 and gave the company an “outperform” rating in a research report on Friday, February 9th. Finally, Evercore ISI lifted their price target on Pinterest from $45.00 to $50.00 and gave the stock an “outperform” rating in a research note on Friday, January 26th. Seven investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $37.97.

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.