Resona Asset Management Co. Ltd. Buys 12,626 Shares of Pinterest, Inc. $PINS

Resona Asset Management Co. Ltd. increased its position in shares of Pinterest, Inc. (NYSE:PINS) by 7.1% during the 2nd quarter, Holdings Channel reports. The fund owned 190,062 shares of the company’s stock after buying an additional 12,626 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Pinterest were worth $6,818,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. West Branch Capital LLC acquired a new stake in Pinterest in the second quarter worth $36,000. Wellington Shields Capital Management LLC bought a new stake in shares of Pinterest in the 2nd quarter valued at $40,000. LRI Investments LLC raised its stake in Pinterest by 97.7% during the 1st quarter. LRI Investments LLC now owns 1,374 shares of the company’s stock worth $43,000 after buying an additional 679 shares during the period. Whittier Trust Co. lifted its holdings in 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 in the last quarter. Finally, SVB Wealth LLC bought a new position in Pinterest during the first quarter worth about $56,000. Institutional investors and hedge funds own 88.81% of the company’s stock.

Insider Buying and Selling at Pinterest

In other news, Director Gokul Rajaram sold 1,150 shares of the firm’s stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $35.00, for a total value of $40,250.00. Following the completion of the transaction, the director owned 30,600 shares in the company, valued at $1,071,000. This trade represents a 3.62% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Andrea Acosta sold 3,759 shares of Pinterest stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $34.96, for a total value of $131,414.64. Following the completion of the sale, the chief accounting officer directly owned 157,402 shares in the company, valued at approximately $5,502,773.92. This represents a 2.33% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 640,236 shares of company stock valued at $22,878,326. Corporate insiders own 7.11% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on PINS. JPMorgan Chase & Co. dropped their price target on Pinterest from $44.00 to $36.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 5th. Cantor Fitzgerald lowered their target price on Pinterest from $40.00 to $34.00 and set an “overweight” rating for the company in a research note on Wednesday. Rosenblatt Securities restated a “neutral” rating and set a $30.00 target price (down from $49.00) on shares of Pinterest in a report on Wednesday, November 5th. BMO Capital Markets reduced their price target on shares of Pinterest from $41.00 to $35.00 and set an “outperform” rating for the company in a report on Wednesday, November 5th. Finally, Wells Fargo & Company lowered their price objective on shares of Pinterest from $42.00 to $35.00 and set an “overweight” rating for the company in a research report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $39.55.

Pinterest Stock Up 2.9%

Shares of PINS opened at $27.06 on Monday. Pinterest, Inc. has a twelve month low of $23.68 and a twelve month high of $40.90. The stock has a market capitalization of $18.40 billion, a P/E ratio of 9.39, a P/E/G ratio of 1.51 and a beta of 0.96. The company has a 50 day moving average of $33.58 and a 200-day moving average of $33.91.

Pinterest (NYSE:PINS) last announced its quarterly earnings data on Tuesday, September 19th. The company reported $0.11 EPS for the quarter. The business 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%. On average, sell-side analysts anticipate that Pinterest, Inc. will post 0.6 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.