Illinois Municipal Retirement Fund Acquires 42,146 Shares of Pinterest, Inc. (NYSE:PINS)

Illinois Municipal Retirement Fund lifted its holdings in shares of Pinterest, Inc. (NYSE:PINS) by 11.8% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 397,850 shares of the company’s stock after acquiring an additional 42,146 shares during the quarter. Illinois Municipal Retirement Fund owned approximately 0.06% of Pinterest worth $17,533,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Leibman Financial Services Inc. grew its holdings in shares of Pinterest by 0.9% during the 2nd quarter. Leibman Financial Services Inc. now owns 31,390 shares of the company’s stock worth $1,383,000 after acquiring an additional 266 shares during the period. Legacy Capital Group California Inc. raised its holdings in Pinterest by 1.7% in the fourth quarter. Legacy Capital Group California Inc. now owns 16,156 shares of the company’s stock worth $598,000 after purchasing an additional 267 shares in the last quarter. Raymond James Trust N.A. raised its holdings in Pinterest by 1.1% in the second quarter. Raymond James Trust N.A. now owns 30,012 shares of the company’s stock worth $1,323,000 after purchasing an additional 319 shares in the last quarter. Quadrant Capital Group LLC lifted its position in Pinterest by 40.7% during the fourth quarter. Quadrant Capital Group LLC now owns 1,306 shares of the company’s stock valued at $48,000 after buying an additional 378 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in shares of Pinterest by 113.4% during the 2nd quarter. GAMMA Investing LLC now owns 762 shares of the company’s stock valued at $34,000 after buying an additional 405 shares in the last quarter. Hedge funds and other institutional investors own 88.81% of the company’s stock.

Analyst Upgrades and Downgrades

PINS has been the topic of several recent research reports. Cantor Fitzgerald started coverage on Pinterest in a research note on Thursday. They issued an “overweight” rating and a $41.00 price target on the stock. The Goldman Sachs Group raised their price target on Pinterest from $44.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, July 9th. Evercore ISI dropped their price target on shares of Pinterest from $50.00 to $48.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 31st. Stifel Nicolaus cut their price objective on shares of Pinterest from $46.00 to $45.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $48.00 target price on shares of Pinterest in a report on Wednesday, July 31st. Eight equities research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. According to data from MarketBeat, Pinterest currently has a consensus rating of “Moderate Buy” and an average target price of $42.65.

Insider Activity at Pinterest

In related news, CFO Donnelly Julia Brau sold 30,280 shares of the business’s stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $44.38, for a total transaction of $1,343,826.40. Following the transaction, the chief financial officer now directly owns 362,822 shares in the company, valued at approximately $16,102,040.36. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Pinterest news, CAO Andrea Acosta sold 2,564 shares of Pinterest stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $45.00, for a total transaction of $115,380.00. Following the completion of the sale, the chief accounting officer now owns 186,906 shares of the company’s stock, valued at approximately $8,410,770. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Donnelly Julia Brau sold 30,280 shares of the stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $44.38, for a total value of $1,343,826.40. Following the completion of the transaction, the chief financial officer now directly owns 362,822 shares in the company, valued at $16,102,040.36. The disclosure for this sale can be found here. Insiders sold 36,689 shares of company stock valued at $1,628,002 over the last 90 days. Insiders own 7.11% of the company’s stock.

Pinterest Stock Performance

Shares of PINS traded down $1.56 during mid-day trading on Friday, hitting $29.25. 11,348,951 shares of the stock were exchanged, compared to its average volume of 9,739,146. The company has a market cap of $20.07 billion, a PE ratio of 139.24, a price-to-earnings-growth ratio of 3.57 and a beta of 1.00. Pinterest, Inc. has a 52-week low of $23.59 and a 52-week high of $45.19. The firm has a 50-day moving average of $35.56 and a two-hundred day moving average of $37.22.

Pinterest (NYSE:PINS) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.01. The firm had revenue of $853.68 million during the quarter, compared to analysts’ expectations of $848.75 million. Pinterest had a net margin of 5.75% and a return on equity of 6.94%. The company’s revenue was up 20.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.04) EPS. On average, sell-side analysts predict that Pinterest, Inc. will post 0.39 EPS for the current year.

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.