Mitsubishi UFJ Trust & Banking Corp Boosts Holdings in Pinterest, Inc. $PINS

Mitsubishi UFJ Trust & Banking Corp raised its position in Pinterest, Inc. (NYSE:PINS) by 5.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 486,554 shares of the company’s stock after acquiring an additional 24,683 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.07% of Pinterest worth $17,448,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. Golden State Wealth Management LLC boosted its position in shares of Pinterest by 282.7% in the 2nd quarter. Golden State Wealth Management LLC now owns 685 shares of the company’s stock worth $25,000 after purchasing an additional 506 shares in the last quarter. West Branch Capital LLC acquired a new position in Pinterest during the 2nd quarter valued at about $36,000. Wellington Shields Capital Management LLC purchased a new stake in Pinterest in the second quarter valued at about $40,000. MassMutual Private Wealth & Trust FSB boosted its holdings in Pinterest by 138.9% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,586 shares of the company’s stock worth $57,000 after acquiring an additional 922 shares in the last quarter. Finally, Whittier Trust Co. grew its stake in shares of Pinterest by 798.4% during the first quarter. Whittier Trust Co. now owns 1,707 shares of the company’s stock worth $53,000 after acquiring an additional 1,517 shares during the last quarter. 88.81% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Pinterest

In related news, insider Wanjiku Juanita Walcott sold 74,047 shares of the firm’s stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $26.89, for a total transaction of $1,991,123.83. Following the sale, the insider directly owned 301,214 shares of the company’s stock, valued at $8,099,644.46. This trade represents a 19.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Donnelly Julia Brau sold 22,821 shares of Pinterest stock in a transaction that occurred on Wednesday, September 24th. The shares were sold at an average price of $34.85, for a total value of $795,311.85. Following the transaction, the chief financial officer owned 312,422 shares of the company’s stock, valued at approximately $10,887,906.70. This represents a 6.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 714,283 shares of company stock valued at $24,869,450. 7.06% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. BMO Capital Markets cut their price objective on shares of Pinterest from $41.00 to $35.00 and set an “outperform” rating on the stock in a report on Wednesday, November 5th. Mizuho started coverage on shares of Pinterest in a research report on Monday, September 29th. They set an “outperform” rating and a $50.00 target price on the stock. Wall Street Zen lowered shares of Pinterest from a “buy” rating to a “hold” rating in a research note on Saturday, October 4th. The Goldman Sachs Group lowered their price objective on shares of Pinterest from $43.00 to $36.00 and set a “buy” rating for the company in a research note on Wednesday, November 5th. Finally, Stifel Nicolaus boosted their price objective on shares of Pinterest from $46.00 to $47.00 and gave the company a “buy” rating in a report on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $39.55.

Pinterest Price Performance

NYSE:PINS opened at $26.62 on Friday. The company’s fifty day moving average price is $32.57 and its 200-day moving average price is $33.83. Pinterest, Inc. has a 1-year low of $23.68 and a 1-year high of $40.90. The firm has a market capitalization of $17.98 billion, a P/E ratio of 9.24, a PEG ratio of 1.57 and a beta of 0.96.

Pinterest (NYSE:PINS) last posted its quarterly earnings results on Tuesday, September 19th. The company reported $0.11 EPS for the quarter. The company had revenue of $665.93 million for the quarter. Pinterest had a net margin of 48.99% and a return on equity of 8.20%. Equities analysts anticipate that Pinterest, Inc. will post 0.6 EPS for the current fiscal 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.