New Mexico Educational Retirement Board Invests $3.16 Million in Pinterest, Inc. $PINS

New Mexico Educational Retirement Board bought a new position in shares of Pinterest, Inc. (NYSE:PINS) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 122,000 shares of the company’s stock, valued at approximately $3,159,000.

A number of other large investors also recently modified their holdings of the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in shares of Pinterest during the fourth quarter worth approximately $3,860,000. Impact Partnership Wealth LLC acquired a new position in shares of Pinterest during the fourth quarter worth approximately $892,000. Forsta AP Fonden lifted its position in shares of Pinterest by 61.2% during the fourth quarter. Forsta AP Fonden now owns 397,400 shares of the company’s stock worth $10,289,000 after purchasing an additional 150,900 shares in the last quarter. Norges Bank acquired a new position in shares of Pinterest during the fourth quarter worth approximately $357,945,000. Finally, Coyle Financial Counsel LLC lifted its position in shares of Pinterest by 5.9% during the fourth quarter. Coyle Financial Counsel LLC now owns 10,589 shares of the company’s stock worth $274,000 after purchasing an additional 587 shares in the last quarter. 88.81% of the stock is currently owned by institutional investors and hedge funds.

Pinterest Stock Up 7.0%

Shares of NYSE:PINS opened at $21.45 on Tuesday. Pinterest, Inc. has a 52 week low of $13.84 and a 52 week high of $39.93. The company has a debt-to-equity ratio of 0.34, a quick ratio of 4.23 and a current ratio of 4.23. The company has a market capitalization of $12.02 billion, a PE ratio of 44.69, a PEG ratio of 1.08 and a beta of 0.93. The company has a 50 day moving average price of $19.45 and a two-hundred day moving average price of $21.89.

Pinterest (NYSE:PINS) last issued its earnings results on Monday, May 4th. The company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.22 by $0.05. Pinterest had a net margin of 7.64% and a return on equity of 8.26%. The firm had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $965.84 million. During the same quarter in the prior year, the firm earned $0.23 earnings per share. The business’s quarterly revenue was up 17.8% on a year-over-year basis. Analysts forecast that Pinterest, Inc. will post 0.68 earnings per share for the current year.

Insider Buying and Selling

In other Pinterest news, Director Gokul Rajaram sold 2,100 shares of the company’s stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $20.00, for a total value of $42,000.00. Following the completion of the sale, the director owned 27,450 shares of the company’s stock, valued at approximately $549,000. This represents a 7.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 4,200 shares of company stock valued at $84,000 over the last ninety days. 8.09% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on PINS. Morgan Stanley increased their price objective on shares of Pinterest from $27.00 to $30.00 and gave the company an “overweight” rating in a report on Tuesday, May 5th. KeyCorp cut their price objective on shares of Pinterest from $40.00 to $35.00 and set an “overweight” rating on the stock in a report on Tuesday, February 3rd. Citigroup increased their price objective on shares of Pinterest from $19.00 to $25.00 and gave the company a “neutral” rating in a report on Tuesday, May 5th. Royal Bank Of Canada increased their price objective on shares of Pinterest from $17.00 to $23.00 and gave the company a “sector perform” rating in a report on Tuesday, May 5th. Finally, Loop Capital lowered shares of Pinterest from a “buy” rating to a “hold” rating and cut their price objective for the company from $45.00 to $18.00 in a report on Friday, February 13th. Sixteen investment analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Pinterest presently has an average rating of “Hold” and an average target price of $27.40.

Pinterest Profile

Pinterest, Inc operates a visual discovery platform that helps users find inspiration and ideas for projects ranging from home design and fashion to cooking and travel. Users create and curate “Pins” — images or videos linked to content — organized on thematic boards. The service is available through its website and mobile applications and emphasizes personalized recommendations and visual search to surface relevant content based on user interests.

The company’s primary revenue model is advertising, offering promoted content formats that integrate into user feeds and search results.