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

Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Pinterest, Inc. (NYSE:PINS - Free Report) by 18.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 844,057 shares of the company's stock after acquiring an additional 131,521 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.12% of Pinterest worth $26,115,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. State Street Corp boosted its stake in shares of Pinterest by 1.2% during the third quarter. State Street Corp now owns 12,773,652 shares of the company's stock valued at $413,483,000 after acquiring an additional 156,748 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Pinterest by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 9,466,585 shares of the company's stock valued at $305,710,000 after purchasing an additional 76,920 shares in the last quarter. Ninety One UK Ltd boosted its stake in shares of Pinterest by 5.4% during the 4th quarter. Ninety One UK Ltd now owns 5,471,613 shares of the company's stock worth $158,677,000 after purchasing an additional 278,362 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of Pinterest during the third quarter worth about $153,829,000. Finally, ARK Investment Management LLC raised its position in shares of Pinterest by 0.4% in the fourth quarter. ARK Investment Management LLC now owns 4,386,546 shares of the company's stock valued at $127,210,000 after buying an additional 17,997 shares during the last quarter. Hedge funds and other institutional investors own 88.81% of the company's stock.

Analysts Set New Price Targets

PINS has been the topic of a number of analyst reports. Sanford C. Bernstein upgraded shares of Pinterest from a "market perform" rating to an "outperform" rating and raised their target price for the stock from $34.00 to $47.00 in a research report on Friday, February 7th. Piper Sandler restated a "neutral" rating and set a $41.00 price objective (up previously from $36.00) on shares of Pinterest in a report on Friday, February 7th. Rosenblatt Securities upped their target price on Pinterest from $46.00 to $51.00 and gave the company a "buy" rating in a research note on Friday, February 7th. Jefferies Financial Group reissued a "hold" rating and issued a $32.00 price target (down from $40.00) on shares of Pinterest in a research note on Monday, January 13th. Finally, Monness Crespi & Hardt upgraded Pinterest from a "neutral" rating to a "buy" rating and set a $40.00 price target for the company in a report on Friday, January 10th. Seven equities research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $43.17.

Pinterest Price Performance

PINS traded down $1.73 during trading hours on Friday, reaching $25.78. 22,729,308 shares of the stock traded hands, compared to its average volume of 10,226,754. Pinterest, Inc. has a fifty-two week low of $24.92 and a fifty-two week high of $45.19. The company has a market cap of $17.49 billion, a price-to-earnings ratio of 9.58, a PEG ratio of 1.95 and a beta of 0.99. The firm's fifty day simple moving average is $34.40 and its two-hundred day simple moving average is $32.38.

Pinterest (NYSE:PINS - Get Free Report) last announced its earnings results on Thursday, February 6th. The company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.63 by ($0.30). Pinterest had a net margin of 51.07% and a return on equity of 8.10%. On average, research analysts predict that Pinterest, Inc. will post 0.6 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Gokul Rajaram sold 1,150 shares of Pinterest stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $30.43, for a total value of $34,994.50. Following the completion of the transaction, the director now directly owns 30,236 shares in the company, valued at approximately $920,081.48. This trade represents a 3.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Benjamin Silbermann sold 102,083 shares of the business's stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $31.16, for a total value of $3,180,906.28. Following the completion of the sale, the director now directly owns 6,274 shares of the company's stock, valued at approximately $195,497.84. This represents a 94.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 453,836 shares of company stock worth $14,832,336 in the last three months. 7.11% of the stock is owned by insiders.

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.