State of New Jersey Common Pension Fund D Sells 6,552 Shares of Pinterest, Inc. (NYSE:PINS)

State of New Jersey Common Pension Fund D lessened its holdings in shares of Pinterest, Inc. (NYSE:PINS) by 1.9% in the fourth quarter, HoldingsChannel.com reports. The firm 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’s holdings in Pinterest were worth $12,509,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Pittenger & Anderson Inc. purchased a new position in Pinterest during the 4th quarter worth $421,000. Tokio Marine Asset Management Co. Ltd. boosted its holdings in Pinterest by 3.7% during the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 16,427 shares of the company’s stock worth $608,000 after acquiring an additional 583 shares during the last quarter. Harvest Fund Management Co. Ltd purchased a new position in Pinterest during the 4th quarter worth $43,000. Yousif Capital Management LLC purchased a new position in Pinterest during the 4th quarter worth $257,000. Finally, GAMMA Investing LLC purchased a new position in Pinterest during the 4th quarter worth $27,000. Institutional investors own 88.81% of the company’s stock.

Insider Buying and Selling

In related news, insider Sabrina Ellis sold 24,410 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $35.49, for a total value of $866,310.90. Following the transaction, the insider now directly owns 500,504 shares in the company, valued at $17,762,886.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Pinterest news, Director Gokul Rajaram sold 1,934 shares of the 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 transaction, 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Sabrina Ellis sold 24,410 shares of the stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $35.49, for a total transaction of $866,310.90. Following the transaction, the insider now owns 500,504 shares in the company, valued at $17,762,886.96. The disclosure for this sale can be found here. Over the last three months, insiders have sold 184,471 shares of company stock worth $6,525,231. Insiders own 6.85% of the company’s stock.

Pinterest Price Performance

Shares of PINS traded down $0.21 during midday trading on Thursday, hitting $32.64. 17,084,716 shares of the company traded hands, compared to its average volume of 9,510,697. The stock has a 50-day moving average of $34.68 and a 200-day moving average of $34.16. The firm has a market cap of $22.16 billion, a P/E ratio of -547.41, a PEG ratio of 4.53 and a beta of 0.99. Pinterest, Inc. has a one year low of $20.60 and a one year high of $41.60.

Pinterest (NYSE:PINS) last posted its quarterly earnings data on Thursday, February 8th. The company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.04. The company had revenue of $981.26 million for the quarter, compared to analysts’ expectations of $988.62 million. Pinterest had a negative net margin of 1.17% and a positive return on equity of 3.83%. Sell-side analysts forecast that Pinterest, Inc. will post 0.36 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on PINS shares. BMO Capital Markets started coverage on shares of Pinterest in a report on Tuesday, January 9th. They set an “outperform” rating and a $45.00 price objective on the stock. Argus raised shares of Pinterest from a “hold” rating to a “buy” rating and set a $45.00 price target on the stock in a report on Thursday, January 18th. Piper Sandler reissued an “overweight” rating and issued a $48.00 price target on shares of Pinterest in a report on Tuesday, March 26th. Roth Mkm boosted their price target on shares of Pinterest from $37.00 to $38.00 and gave the stock a “neutral” rating in a report on Friday, February 9th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $45.00 price target on shares of Pinterest in a report on Friday, February 9th. Seven equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $37.68.

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.