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

Mitsubishi UFJ Asset Management Co. Ltd. decreased its holdings in Pinterest, Inc. (NYSE:PINS) by 5.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 675,851 shares of the company’s stock after selling 35,940 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.10% of Pinterest worth $24,236,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PINS. Teacher Retirement System of Texas raised its holdings in shares of Pinterest by 2.4% in the third quarter. Teacher Retirement System of Texas now owns 46,050 shares of the company’s stock worth $1,245,000 after buying an additional 1,081 shares during the last quarter. Wealthfront Advisers LLC lifted its position in Pinterest by 68.5% during the 3rd quarter. Wealthfront Advisers LLC now owns 87,869 shares of the company’s stock worth $2,375,000 after acquiring an additional 35,717 shares during the period. FDx Advisors Inc. purchased a new stake in Pinterest during the 3rd quarter valued at about $253,000. Ingalls & Snyder LLC increased its holdings in shares of Pinterest by 8.2% in the third quarter. Ingalls & Snyder LLC now owns 22,759 shares of the company’s stock valued at $615,000 after purchasing an additional 1,727 shares during the period. Finally, Principal Financial Group Inc. increased its holdings in shares of Pinterest by 9.1% in the third quarter. Principal Financial Group Inc. now owns 496,461 shares of the company’s stock valued at $13,419,000 after purchasing an additional 41,495 shares during the period. 88.81% of the stock is currently owned by hedge funds and other institutional investors.

Pinterest Trading Up 0.8 %

NYSE:PINS opened at $42.79 on Friday. The stock has a 50 day moving average of $35.76 and a two-hundred day moving average of $35.49. Pinterest, Inc. has a 12 month low of $21.48 and a 12 month high of $43.12. The firm has a market cap of $29.23 billion, a P/E ratio of 203.77, a price-to-earnings-growth ratio of 4.23 and a beta of 0.99.

Analysts Set New Price Targets

A number of equities research analysts recently commented on PINS shares. Loop Capital upped their target price on Pinterest from $43.00 to $49.00 and gave the company a “buy” rating in a research report on Monday, May 6th. KeyCorp dropped their price objective on shares of Pinterest from $48.00 to $40.00 and set an “overweight” rating on the stock in a report on Wednesday, April 24th. Royal Bank of Canada raised their target price on shares of Pinterest from $48.00 to $52.00 and gave the stock an “outperform” rating in a report on Wednesday, May 1st. Stifel Nicolaus boosted their target price on shares of Pinterest from $42.00 to $46.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Finally, JPMorgan Chase & Co. increased their price target on Pinterest from $38.00 to $44.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. Eight investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $41.26.

Insider Transactions at Pinterest

In other Pinterest news, CFO Donnelly Julia Brau sold 65,972 shares of the firm’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $34.42, for a total value of $2,270,756.24. Following the transaction, the chief financial officer now owns 392,829 shares in the company, valued at approximately $13,521,174.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Pinterest news, CFO Donnelly Julia Brau sold 65,972 shares of the stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $34.42, for a total value of $2,270,756.24. Following the completion of the sale, the chief financial officer now owns 392,829 shares in the company, valued at approximately $13,521,174.18. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Sabrina Ellis sold 24,410 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $35.49, for a total value of $866,310.90. Following the transaction, the insider now owns 500,504 shares in the company, valued at $17,762,886.96. The disclosure for this sale can be found here. Insiders have sold 164,471 shares of company stock valued at $5,773,431 over the last ninety days. 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.