Meiji Yasuda Life Insurance Co Increases Stock Holdings in Pinterest, Inc. (NYSE:PINS)

Meiji Yasuda Life Insurance Co boosted its stake in shares of Pinterest, Inc. (NYSE:PINS) by 24.5% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 40,715 shares of the company’s stock after buying an additional 8,000 shares during the period. Meiji Yasuda Life Insurance Co’s holdings in Pinterest were worth $1,794,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of PINS. Wellington Shields Capital Management LLC purchased a new stake in shares of Pinterest in the second quarter valued at $26,000. Hexagon Capital Partners LLC raised its position in Pinterest by 157.7% in the 2nd quarter. Hexagon Capital Partners LLC now owns 750 shares of the company’s stock worth $33,000 after purchasing an additional 459 shares during the period. GAMMA Investing LLC lifted its stake in Pinterest by 113.4% in the second quarter. GAMMA Investing LLC now owns 762 shares of the company’s stock worth $34,000 after purchasing an additional 405 shares during the last quarter. Rothschild Investment LLC purchased a new position in shares of Pinterest during the second quarter valued at approximately $35,000. Finally, International Assets Investment Management LLC bought a new position in shares of Pinterest during the second quarter valued at approximately $40,000. 88.81% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on PINS. Benchmark restated a “hold” rating on shares of Pinterest in a report on Wednesday, July 31st. Morgan Stanley upped their price target on shares of Pinterest from $35.00 to $38.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 23rd. Piper Sandler reaffirmed an “overweight” rating and issued a $45.00 price target on shares of Pinterest in a research note on Friday, September 13th. Evercore ISI lowered their price objective on shares of Pinterest from $50.00 to $48.00 and set an “outperform” rating for the company in a research report on Wednesday, July 31st. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $48.00 target price on shares of Pinterest in a research report on Wednesday, July 31st. Eight investment analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. According to data from MarketBeat.com, Pinterest has a consensus rating of “Moderate Buy” and a consensus target price of $42.50.

Insider Transactions at Pinterest

In related news, CFO Donnelly Julia Brau sold 30,280 shares of the company’s stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $44.38, for a total value of $1,343,826.40. Following the transaction, the chief financial officer now directly owns 362,822 shares of the company’s stock, valued at approximately $16,102,040.36. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CFO Donnelly Julia Brau sold 30,280 shares of the company’s stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $44.38, for a total value of $1,343,826.40. Following the sale, the chief financial officer now owns 362,822 shares in the company, valued at $16,102,040.36. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Andrea Acosta sold 2,564 shares of the stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $45.00, for a total transaction of $115,380.00. Following the completion of the transaction, the chief accounting officer now owns 186,906 shares in the company, valued at approximately $8,410,770. The disclosure for this sale can be found here. Insiders own 7.11% of the company’s stock.

Pinterest Stock Performance

Shares of NYSE PINS opened at $29.36 on Wednesday. Pinterest, Inc. has a fifty-two week low of $23.59 and a fifty-two week high of $45.19. The company has a market cap of $20.06 billion, a PE ratio of 139.81, a P/E/G ratio of 3.27 and a beta of 1.00. The business has a 50-day simple moving average of $33.29 and a two-hundred day simple moving average of $36.86.

Pinterest (NYSE:PINS) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.28 by $0.01. The firm had revenue of $853.68 million during the quarter, compared to analyst estimates of $848.75 million. Pinterest had a net margin of 5.75% and a return on equity of 6.94%. Pinterest’s revenue was up 20.6% on a year-over-year basis. During the same period last year, the firm posted ($0.04) EPS. On average, sell-side analysts predict that Pinterest, Inc. will post 0.39 earnings per share for the current fiscal year.

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.