Asahi Life Asset Management CO. LTD. Boosts Stock Holdings in Pinterest, Inc. (NYSE:PINS)

Asahi Life Asset Management CO. LTD. lifted its position in Pinterest, Inc. (NYSE:PINS) by 38.4% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 11,130 shares of the company’s stock after acquiring an additional 3,090 shares during the quarter. Asahi Life Asset Management CO. LTD.’s holdings in Pinterest were worth $360,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Pinterest by 34.9% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 39,568 shares of the company’s stock valued at $1,281,000 after acquiring an additional 10,228 shares in the last quarter. Forsta AP Fonden boosted its position in Pinterest by 11.1% in the third quarter. Forsta AP Fonden now owns 128,800 shares of the company’s stock worth $4,169,000 after purchasing an additional 12,900 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in Pinterest by 174.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 84,440 shares of the company’s stock valued at $2,743,000 after purchasing an additional 53,713 shares during the period. Mount Yale Investment Advisors LLC increased its position in shares of Pinterest by 37.1% during the 3rd quarter. Mount Yale Investment Advisors LLC now owns 25,180 shares of the company’s stock valued at $815,000 after purchasing an additional 6,813 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in shares of Pinterest by 24.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 332,295 shares of the company’s stock worth $10,756,000 after purchasing an additional 65,014 shares during the period. Hedge funds and other institutional investors own 88.81% of the company’s stock.

Pinterest Stock Down 0.2 %

Shares of NYSE PINS opened at $32.27 on Tuesday. The firm has a market capitalization of $22.05 billion, a P/E ratio of 153.67, a P/E/G ratio of 2.50 and a beta of 1.01. The stock’s 50-day simple moving average is $31.72 and its two-hundred day simple moving average is $36.41. Pinterest, Inc. has a twelve month low of $24.47 and a twelve month high of $45.19.

Pinterest (NYSE:PINS) last posted its quarterly earnings data on Tuesday, July 30th. The company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.01. Pinterest had a net margin of 5.75% and a return on equity of 6.94%. The company had revenue of $853.68 million for the quarter, compared to analysts’ expectations of $848.75 million. During the same period in the prior year, the business earned ($0.04) earnings per share. Pinterest’s revenue for the quarter was up 20.6% compared to the same quarter last year. As a group, research analysts anticipate that Pinterest, Inc. will post 0.39 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Gokul Rajaram sold 1,150 shares of the firm’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $33.52, for a total transaction of $38,548.00. Following the sale, the director now owns 33,686 shares in the company, valued at approximately $1,129,154.72. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Director Gokul Rajaram sold 1,150 shares of the stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $33.52, for a total transaction of $38,548.00. Following the transaction, the director now directly owns 33,686 shares in the company, valued at approximately $1,129,154.72. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Donnelly Julia Brau sold 30,280 shares of the business’s stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $32.72, for a total value of $990,761.60. Following the completion of the sale, the chief financial officer now owns 297,351 shares of the company’s stock, valued at $9,729,324.72. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 7.11% of the company’s stock.

Analyst Upgrades and Downgrades

PINS has been the subject of several research reports. Stifel Nicolaus reduced their price target on shares of Pinterest from $46.00 to $45.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. Barclays reduced their target price on shares of Pinterest from $38.00 to $36.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 31st. Raymond James decreased their price target on shares of Pinterest from $45.00 to $40.00 and set an “outperform” rating for the company in a research note on Wednesday, July 31st. Robert W. Baird dropped their price objective on Pinterest from $44.00 to $41.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 31st. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $48.00 price objective on shares of Pinterest in a report on Thursday, September 12th. Eight equities research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $43.32.

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.