Meiji Yasuda Asset Management Co Ltd. Has $2.85 Million Stock Position in Pinterest, Inc. (NYSE:PINS)

Meiji Yasuda Asset Management Co Ltd. raised its holdings in shares of Pinterest, Inc. (NYSE:PINS) by 5.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 98,292 shares of the company’s stock after buying 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.

Other hedge funds also recently modified their holdings of the company. Whipplewood Advisors LLC bought a new position in Pinterest during the fourth quarter valued at about $28,000. GAMMA Investing LLC increased its position in shares of Pinterest by 63.5% during the fourth quarter. GAMMA Investing LLC now owns 1,069 shares of the company’s stock valued at $31,000 after purchasing an additional 415 shares during the period. True Wealth Design LLC raised its stake in shares of Pinterest by 8,261.1% in the third quarter. True Wealth Design LLC now owns 1,505 shares of the company’s stock valued at $49,000 after purchasing an additional 1,487 shares in the last quarter. V Square Quantitative Management LLC lifted its position in Pinterest by 51.5% in the fourth quarter. V Square Quantitative Management LLC now owns 1,735 shares of the company’s stock worth $50,000 after purchasing an additional 590 shares during the period. Finally, Manchester Capital Management LLC boosted its stake in Pinterest by 17,692.3% during the fourth quarter. Manchester Capital Management LLC now owns 2,313 shares of the company’s stock worth $67,000 after buying an additional 2,300 shares in the last quarter. 88.81% of the stock is owned by institutional investors.

Pinterest Price Performance

Shares of NYSE PINS opened at $34.68 on Wednesday. Pinterest, Inc. has a fifty-two week low of $27.00 and a fifty-two week high of $45.19. The firm has a market capitalization of $23.52 billion, a P/E ratio of 12.89, a P/E/G ratio of 1.95 and a beta of 1.02. The company’s 50 day simple moving average is $34.56 and its 200 day simple moving average is $32.35.

Pinterest (NYSE:PINS) last posted its quarterly earnings results on Thursday, February 6th. The company reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.30). Pinterest had a net margin of 51.07% and a return on equity of 8.10%. Sell-side analysts expect that Pinterest, Inc. will post 0.6 EPS for the current fiscal year.

Insider Buying and Selling at Pinterest

In other news, Director Gokul Rajaram sold 1,150 shares of Pinterest stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $39.19, for a total transaction of $45,068.50. Following the transaction, the director now directly owns 29,086 shares of the company’s stock, valued at $1,139,880.34. This trade represents a 3.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Andrea Acosta sold 3,667 shares of the stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $37.46, for a total value of $137,365.82. Following the completion of the sale, the chief accounting officer now owns 144,129 shares of the company’s stock, valued at $5,399,072.34. This trade represents a 2.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 237,417 shares of company stock valued at $7,803,946. 7.11% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

PINS has been the subject of a number of recent research reports. Guggenheim upgraded shares of Pinterest from a “neutral” rating to a “buy” rating and increased their price objective for the company from $39.00 to $40.00 in a research note on Monday. Wedbush raised their price target on shares of Pinterest from $38.00 to $46.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Jefferies Financial Group reaffirmed a “hold” rating and set a $32.00 price objective (down from $40.00) on shares of Pinterest in a report on Monday, January 13th. Sanford C. Bernstein raised Pinterest from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $34.00 to $47.00 in a report on Friday, February 7th. Finally, Morgan Stanley boosted their price target on Pinterest from $35.00 to $36.00 and gave the company an “equal weight” rating in a research note on Monday, January 13th. Seven analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. According to MarketBeat, Pinterest has an average rating of “Moderate Buy” and a consensus price target of $43.33.

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.