Teacher Retirement System of Texas Reduces Stock Position in Pinterest, Inc. $PINS

Teacher Retirement System of Texas trimmed its stake in shares of Pinterest, Inc. (NYSE:PINS) by 19.2% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 529,450 shares of the company’s stock after selling 125,916 shares during the period. Teacher Retirement System of Texas owned approximately 0.08% of Pinterest worth $17,032,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. iA Global Asset Management Inc. grew its position in Pinterest by 1,382.5% in the 3rd quarter. iA Global Asset Management Inc. now owns 51,278 shares of the company’s stock worth $1,650,000 after purchasing an additional 47,819 shares during the period. Strs Ohio boosted its stake in shares of Pinterest by 10.4% in the 3rd quarter. Strs Ohio now owns 246,024 shares of the company’s stock worth $7,915,000 after buying an additional 23,212 shares during the last quarter. Rakuten Investment Management Inc. bought a new stake in shares of Pinterest in the third quarter worth $485,000. Jackson Thornton Wealth Management LLC bought a new stake in shares of Pinterest in the third quarter worth $244,000. Finally, Dynamic Wealth Strategies LLC increased its position in Pinterest by 9.9% during the third quarter. Dynamic Wealth Strategies LLC now owns 7,251 shares of the company’s stock valued at $233,000 after acquiring an additional 655 shares during the last quarter. Institutional investors own 88.81% of the company’s stock.

Analysts Set New Price Targets

PINS has been the topic of several research reports. BMO Capital Markets dropped their target price on Pinterest from $41.00 to $35.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 5th. Roth Mkm lowered their price objective on shares of Pinterest from $39.00 to $34.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 5th. The Goldman Sachs Group dropped their price objective on shares of Pinterest from $36.00 to $32.00 and set a “buy” rating on the stock in a report on Tuesday, January 13th. Citigroup reaffirmed a “buy” rating on shares of Pinterest in a report on Wednesday, November 5th. Finally, Wall Street Zen downgraded shares of Pinterest from a “buy” rating to a “hold” rating in a research report on Saturday, October 4th. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $38.64.

Pinterest Trading Up 1.0%

NYSE PINS opened at $25.92 on Friday. Pinterest, Inc. has a 12 month low of $23.68 and a 12 month high of $40.90. The stock has a market cap of $17.51 billion, a price-to-earnings ratio of 9.00, a PEG ratio of 1.23 and a beta of 0.91. The company’s 50 day moving average is $26.24 and its two-hundred day moving average is $31.63.

Pinterest (NYSE:PINS) last announced its quarterly earnings data on Tuesday, November 4th. The company reported $0.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.04). The firm had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.05 billion. Pinterest had a return on equity of 8.20% and a net margin of 48.99%.The business’s revenue for the quarter was up 16.8% on a year-over-year basis. During the same period last year, the company earned $0.40 earnings per share. Sell-side analysts forecast that Pinterest, Inc. will post 0.6 EPS for the current year.

Insider Buying and Selling at Pinterest

In other news, CFO Donnelly Julia Brau sold 22,821 shares of the business’s stock in a transaction dated Wednesday, December 24th. The stock was sold at an average price of $25.86, for a total value of $590,151.06. Following the transaction, the chief financial officer directly owned 540,358 shares in the company, valued at $13,973,657.88. The trade was a 4.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Wanjiku Juanita Walcott sold 74,047 shares of the company’s stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $26.89, for a total value of $1,991,123.83. Following the completion of the transaction, the insider directly owned 301,214 shares of the company’s stock, valued at approximately $8,099,644.46. This trade represents a 19.73% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 105,161 shares of company stock valued at $2,796,466 over the last ninety days. 7.06% of the stock is currently owned by company insiders.

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.