Mitsubishi UFJ Asset Management Co. Ltd. Grows Stock Position in Pinterest, Inc. (NYSE:PINS)

Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Pinterest, Inc. (NYSE:PINS - Free Report) by 18.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 0.12% of Pinterest worth $26,115,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Cerity Partners LLC grew its holdings in Pinterest by 63.4% during the third quarter. Cerity Partners LLC now owns 52,357 shares of the company's stock worth $1,695,000 after purchasing an additional 20,310 shares during the period. Algert Global LLC boosted its position in Pinterest by 53.4% during the third quarter. Algert Global LLC now owns 16,099 shares of the company's stock worth $521,000 after purchasing an additional 5,604 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Pinterest by 0.8% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 123,982 shares of the company's stock valued at $4,013,000 after purchasing an additional 1,008 shares during the last quarter. Hantz Financial Services Inc. raised its position in shares of Pinterest by 3.7% in the third quarter. Hantz Financial Services Inc. now owns 9,380 shares of the company's stock valued at $304,000 after purchasing an additional 339 shares during the period. Finally, Icon Wealth Advisors LLC raised its position in shares of Pinterest by 10.2% in the third quarter. Icon Wealth Advisors LLC now owns 6,692 shares of the company's stock valued at $217,000 after purchasing an additional 619 shares during the period. Institutional investors own 88.81% of the company's stock.

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Wall Street Analysts Forecast Growth

PINS has been the subject of several research analyst reports. Wells Fargo & Company reduced their target price on shares of Pinterest from $47.00 to $42.00 and set an "overweight" rating for the company in a report on Monday. Monness Crespi & Hardt raised Pinterest from a "neutral" rating to a "buy" rating and set a $40.00 target price on the stock in a research report on Friday, January 10th. Morgan Stanley lifted their price target on Pinterest from $35.00 to $36.00 and gave the stock an "equal weight" rating in a report on Monday, January 13th. Rosenblatt Securities increased their price objective on Pinterest from $46.00 to $51.00 and gave the stock a "buy" rating in a research report on Friday, February 7th. Finally, Stifel Nicolaus reissued a "buy" rating and issued a $50.00 target price (up previously from $45.00) on shares of Pinterest in a research report on Friday, February 7th. Seven investment analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. Based on data from MarketBeat.com, Pinterest presently has a consensus rating of "Moderate Buy" and an average target price of $43.17.

Pinterest Stock Down 9.1 %

PINS traded down $2.50 during trading on Friday, hitting $25.01. 4,672,110 shares of the company's stock were exchanged, compared to its average volume of 10,141,730. The stock has a market cap of $16.97 billion, a P/E ratio of 9.36, a PEG ratio of 1.95 and a beta of 0.99. The business's 50 day moving average is $34.54 and its two-hundred day moving average is $32.40. Pinterest, Inc. has a fifty-two week low of $25.01 and a fifty-two week high of $45.19.

Pinterest (NYSE:PINS - Get Free Report) last issued 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, sell-side analysts forecast that Pinterest, Inc. will post 0.6 earnings per share for the current year.

Insider Activity

In other news, Director Gokul Rajaram sold 1,150 shares of the business's stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $30.43, for a total value of $34,994.50. Following the transaction, the director now owns 30,236 shares in the company, valued at $920,081.48. The trade was a 3.66 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Andrea Acosta sold 3,667 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $37.46, for a total value of $137,365.82. Following the sale, the chief accounting officer now directly owns 144,129 shares of the company's stock, valued at $5,399,072.34. The trade was a 2.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 453,836 shares of company stock worth $14,832,336 over the last quarter. Insiders own 7.11% of the company's stock.

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.