Pinterest, Inc. (NYSE:PINS) Shares Bought by Employees Retirement System of Texas

Employees Retirement System of Texas raised its position in Pinterest, Inc. (NYSE:PINS) by 11.3% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 65,059 shares of the company’s stock after acquiring an additional 6,631 shares during the period. Employees Retirement System of Texas’ holdings in Pinterest were worth $2,867,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Wellington Shields Capital Management LLC acquired a new position in Pinterest during the 2nd quarter worth approximately $26,000. Hexagon Capital Partners LLC lifted its holdings in Pinterest by 157.7% in the second quarter. Hexagon Capital Partners LLC now owns 750 shares of the company’s stock valued at $33,000 after acquiring an additional 459 shares during the period. GAMMA Investing LLC boosted its position in shares of Pinterest by 113.4% during the 2nd quarter. GAMMA Investing LLC now owns 762 shares of the company’s stock worth $34,000 after purchasing an additional 405 shares in the last quarter. Rothschild Investment LLC acquired a new position in shares of Pinterest during the 2nd quarter worth $35,000. Finally, International Assets Investment Management LLC purchased a new position in shares of Pinterest in the 2nd quarter valued at about $40,000. Hedge funds and other institutional investors own 88.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on PINS. Wedbush lowered their target price on shares of Pinterest from $46.00 to $37.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 31st. JPMorgan Chase & Co. reduced their price objective on Pinterest from $44.00 to $38.00 and set a “neutral” rating for the company in a report on Wednesday, July 31st. Morgan Stanley upped their target price on Pinterest from $35.00 to $38.00 and gave the company an “equal weight” rating in a report on Tuesday, July 23rd. Barclays cut their price target on Pinterest from $38.00 to $36.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 31st. Finally, Citigroup lowered their price objective on shares of Pinterest from $51.00 to $44.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. Eight research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $43.25.

Pinterest Stock Up 1.7 %

Shares of PINS opened at $32.70 on Friday. Pinterest, Inc. has a fifty-two week low of $23.59 and a fifty-two week high of $45.19. The company’s fifty day moving average is $31.85 and its two-hundred day moving average is $36.63. The firm has a market cap of $22.34 billion, a PE ratio of 155.71, a price-to-earnings-growth ratio of 3.40 and a beta of 1.00.

Pinterest (NYSE:PINS) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.28 by $0.01. Pinterest had a net margin of 5.75% and a return on equity of 6.94%. The firm had revenue of $853.68 million for the quarter, compared to analyst estimates of $848.75 million. During the same quarter last year, the firm posted ($0.04) earnings per share. Pinterest’s revenue for the quarter was up 20.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Pinterest, Inc. will post 0.39 earnings per share for the current year.

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.