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

Meiji Yasuda Asset Management Co Ltd. grew its holdings in shares of Pinterest, Inc. (NYSE:PINS) by 5.5% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 98,292 shares of the company’s stock after acquiring an additional 5,139 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in Pinterest were worth $2,850,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of PINS. Pier Capital LLC lifted its holdings in Pinterest by 95.6% in the fourth quarter. Pier Capital LLC now owns 27,023 shares of the company’s stock worth $784,000 after purchasing an additional 13,208 shares during the period. Prospect Financial Group LLC bought a new stake in shares of Pinterest during the 4th quarter worth about $6,867,000. EntryPoint Capital LLC acquired a new stake in shares of Pinterest in the 4th quarter worth approximately $454,000. Zevenbergen Capital Investments LLC bought a new position in shares of Pinterest in the fourth quarter valued at approximately $10,608,000. Finally, LPL Financial LLC increased its stake in shares of Pinterest by 3.6% during the fourth quarter. LPL Financial LLC now owns 438,427 shares of the company’s stock valued at $12,714,000 after acquiring an additional 15,164 shares during the period. Institutional investors own 88.81% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. TD Cowen assumed coverage on Pinterest in a research note on Tuesday, November 26th. They set a “buy” rating and a $38.00 price target for the company. Piper Sandler reaffirmed a “neutral” rating and set a $41.00 target price (up from $36.00) on shares of Pinterest in a report on Friday, February 7th. Royal Bank of Canada upped their price target on shares of Pinterest from $48.00 to $50.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Benchmark upgraded shares of Pinterest from a “hold” rating to a “buy” rating and set a $55.00 target price on the stock in a report on Friday, February 7th. Finally, Jefferies Financial Group reissued a “hold” rating and set a $32.00 target price (down from $40.00) on shares of Pinterest in a research note on Monday, January 13th. Seven analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $43.33.

Insider Activity

In other Pinterest news, Director Benjamin Silbermann sold 102,083 shares of the stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $31.16, for a total transaction of $3,180,906.28. Following the transaction, the director now owns 6,274 shares in the company, valued at $195,497.84. This trade represents a 94.21 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Donnelly Julia Brau sold 29,605 shares of the business’s stock in a transaction on Monday, March 24th. The stock was sold at an average price of $33.95, for a total transaction of $1,005,089.75. Following the completion of the sale, the chief financial officer now owns 166,408 shares of the company’s stock, valued at $5,649,551.60. The trade was a 15.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 237,417 shares of company stock worth $7,803,946. 7.11% of the stock is owned by corporate insiders.

Pinterest Price Performance

Shares of NYSE PINS opened at $34.68 on Wednesday. Pinterest, Inc. has a one year low of $27.00 and a one year high of $45.19. The business’s 50-day moving average price is $34.56 and its two-hundred day moving average price is $32.35. The company has a market capitalization of $23.52 billion, a P/E ratio of 12.89, a price-to-earnings-growth ratio of 1.95 and a beta of 1.02.

Pinterest (NYSE:PINS) last released its quarterly earnings data on Thursday, February 6th. The company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.30). Pinterest had a return on equity of 8.10% and a net margin of 51.07%. On average, equities analysts anticipate that Pinterest, Inc. will post 0.6 EPS 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.