Dai ichi Life Insurance Company Ltd Makes New Investment in Pinterest, Inc. (NYSE:PINS)

Dai ichi Life Insurance Company Ltd acquired a new stake in shares of Pinterest, Inc. (NYSE:PINS) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 5,168 shares of the company’s stock, valued at approximately $228,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Wellington Shields Capital Management LLC bought a new stake in Pinterest in the 2nd quarter valued at approximately $26,000. Hexagon Capital Partners LLC lifted its position in shares of Pinterest by 157.7% in the second quarter. Hexagon Capital Partners LLC now owns 750 shares of the company’s stock worth $33,000 after purchasing an additional 459 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Pinterest by 113.4% during 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 bought a new position in Pinterest in the second quarter valued at $35,000. Finally, Quent Capital LLC increased its stake in Pinterest by 71.2% in the 1st quarter. Quent Capital LLC now owns 1,106 shares of the company’s stock valued at $38,000 after buying an additional 460 shares during the last quarter. 88.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

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

Analyst Ratings Changes

PINS has been the subject of a number of recent research reports. Wells Fargo & Company reduced their price objective on shares of Pinterest from $49.00 to $41.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. Susquehanna decreased their price target on Pinterest from $50.00 to $45.00 and set a “positive” rating for the company in a research note on Wednesday, July 31st. Wolfe Research started coverage on Pinterest in a research report on Tuesday, July 16th. They set a “peer perform” rating on the stock. Citigroup cut their price objective on Pinterest from $51.00 to $44.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Finally, Roth Mkm lowered their target price on shares of Pinterest from $40.00 to $39.00 and set a “neutral” rating on the stock in a report on Wednesday, July 31st. Eight research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $42.50.

Pinterest Price Performance

PINS stock opened at $28.90 on Tuesday. Pinterest, Inc. has a fifty-two week low of $23.59 and a fifty-two week high of $45.19. The stock has a market capitalization of $19.83 billion, a price-to-earnings ratio of 137.63, a PEG ratio of 3.27 and a beta of 1.00. The business’s fifty day moving average price is $33.57 and its two-hundred day moving average price is $36.91.

Pinterest (NYSE:PINS) last released its quarterly earnings results on Tuesday, July 30th. The company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.01. Pinterest had a net margin of 5.75% and a return on equity of 6.94%. The business had revenue of $853.68 million for the quarter, compared to analyst estimates of $848.75 million. During the same period last year, the firm earned ($0.04) earnings per share. Pinterest’s revenue for the quarter was up 20.6% compared to the same quarter last year. Research analysts expect that Pinterest, Inc. will post 0.39 EPS for the current 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.