Pinterest, Inc. (NYSE:PINS) Shares Bought by Meiji Yasuda Asset Management Co Ltd.

Meiji Yasuda Asset Management Co Ltd. boosted its stake in shares of Pinterest, Inc. (NYSE:PINS) by 41.4% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 92,422 shares of the company’s stock after acquiring an additional 27,081 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Pinterest were worth $4,073,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Corient Private Wealth LLC raised its position in Pinterest by 56.7% during the fourth quarter. Corient Private Wealth LLC now owns 96,380 shares of the company’s stock worth $3,570,000 after acquiring an additional 34,876 shares during the period. Mitsubishi UFJ Trust & Banking Corp raised its position in shares of Pinterest by 13.0% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 447,148 shares of the company’s stock valued at $15,598,000 after buying an additional 51,455 shares during the last quarter. Contrarius Investment Management Ltd raised its position in shares of Pinterest by 300.0% in the fourth quarter. Contrarius Investment Management Ltd now owns 1,722,412 shares of the company’s stock valued at $63,798,000 after buying an additional 1,291,854 shares during the last quarter. Teachers Retirement System of The State of Kentucky raised its position in shares of Pinterest by 10.5% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 231,822 shares of the company’s stock valued at $8,586,000 after buying an additional 22,101 shares during the last quarter. Finally, Deltec Asset Management LLC acquired a new stake in shares of Pinterest in the first quarter valued at about $6,449,000. 88.81% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently commented on PINS. Barclays reduced their target price on shares of Pinterest from $38.00 to $36.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 31st. Roth Mkm reduced their target price on shares of Pinterest from $40.00 to $39.00 and set a “neutral” rating for the company in a research report on Wednesday, July 31st. Benchmark reiterated a “hold” rating on shares of Pinterest in a research report on Wednesday, July 31st. The Goldman Sachs Group upped their price objective on shares of Pinterest from $44.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, July 9th. Finally, Morgan Stanley upped their price objective on shares of Pinterest from $35.00 to $38.00 and gave the company an “equal weight” rating in a report on Tuesday, July 23rd. Eight research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the stock. According to MarketBeat.com, Pinterest has a consensus rating of “Moderate Buy” and a consensus target price of $42.50.

Insider Activity

In other news, CFO Donnelly Julia Brau sold 30,280 shares of Pinterest stock in a transaction on 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 transaction, the chief financial officer now directly owns 362,822 shares of the company’s stock, valued at approximately $16,102,040.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 7.11% of the company’s stock.

Pinterest Trading Up 1.8 %

PINS stock opened at $29.88 on Thursday. Pinterest, Inc. has a twelve month low of $23.59 and a twelve month high of $45.19. The company’s 50 day moving average is $33.03 and its two-hundred day moving average is $36.82. The stock has a market cap of $20.41 billion, a P/E ratio of 142.29, a PEG ratio of 3.27 and a beta of 1.00.

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