Mitsubishi UFJ Asset Management Co. Ltd. Has $27.32 Million Position in Pinterest, Inc. (NYSE:PINS)

Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Pinterest, Inc. (NYSE:PINS - Free Report) by 4.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 881,157 shares of the company's stock after acquiring an additional 37,100 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.13% of Pinterest worth $27,316,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Ontario Teachers Pension Plan Board lifted its holdings in Pinterest by 0.6% during the first quarter. Ontario Teachers Pension Plan Board now owns 4,801,972 shares of the company's stock worth $148,861,000 after acquiring an additional 28,939 shares in the last quarter. 1834 Investment Advisors Co. lifted its holdings in Pinterest by 3.5% during the first quarter. 1834 Investment Advisors Co. now owns 24,334 shares of the company's stock worth $754,000 after acquiring an additional 817 shares in the last quarter. Deutsche Bank AG lifted its holdings in Pinterest by 37.2% during the first quarter. Deutsche Bank AG now owns 2,431,424 shares of the company's stock worth $75,374,000 after acquiring an additional 659,401 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Pinterest by 4.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 4,499,865 shares of the company's stock worth $139,496,000 after acquiring an additional 192,457 shares in the last quarter. Finally, ASR Vermogensbeheer N.V. bought a new stake in shares of Pinterest in the first quarter valued at about $1,099,000. 88.81% of the stock is currently owned by institutional investors.

Insider Activity at Pinterest

In other news, Director Benjamin Silbermann sold 102,083 shares of the company's stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $32.13, for a total value of $3,279,926.79. Following the transaction, the director owned 6,274 shares of the company's stock, valued at approximately $201,583.62. This represents a 94.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 1,094,279 shares of company stock valued at $38,062,654 over the last 90 days. 7.06% of the stock is currently owned by corporate insiders.

Pinterest Stock Down 1.4%

Shares of Pinterest stock traded down $0.52 on Friday, hitting $35.84. The stock had a trading volume of 2,502,652 shares, compared to its average volume of 11,893,314. Pinterest, Inc. has a twelve month low of $23.68 and a twelve month high of $40.90. The business's 50 day moving average is $36.18 and its two-hundred day moving average is $33.19. The stock has a market cap of $24.30 billion, a price-to-earnings ratio of 12.84, a price-to-earnings-growth ratio of 1.76 and a beta of 0.78.

Pinterest (NYSE:PINS - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.01). Pinterest had a net margin of 49.31% and a return on equity of 8.44%. The firm had revenue of $998.23 million during the quarter, compared to analyst estimates of $973.42 million. During the same period in the previous year, the company posted $0.29 EPS. Pinterest's revenue for the quarter was up 16.9% compared to the same quarter last year. As a group, equities analysts predict that Pinterest, Inc. will post 0.6 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on PINS. Stifel Nicolaus boosted their price target on Pinterest from $46.00 to $47.00 and gave the company a "buy" rating in a report on Friday, August 8th. KeyCorp boosted their price target on Pinterest from $40.00 to $45.00 and gave the company an "overweight" rating in a report on Thursday, July 17th. Susquehanna reiterated a "positive" rating and set a $42.00 target price on shares of Pinterest in a report on Friday, August 8th. JPMorgan Chase & Co. upgraded Pinterest from a "neutral" rating to an "overweight" rating and upped their target price for the stock from $35.00 to $40.00 in a report on Tuesday, June 3rd. Finally, Wells Fargo & Company set a $42.00 target price on Pinterest and gave the stock an "overweight" rating in a report on Tuesday, July 1st. Five analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the stock. According to data from MarketBeat, Pinterest currently has an average rating of "Moderate Buy" and a consensus price target of $42.40.

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.