TimesSquare Capital Management LLC Has $62.83 Million Stake in Pinterest, Inc. (NYSE:PINS)

TimesSquare Capital Management LLC decreased its position in shares of Pinterest, Inc. (NYSE:PINS) by 5.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,812,300 shares of the company’s stock after selling 114,310 shares during the period. TimesSquare Capital Management LLC owned about 0.27% of Pinterest worth $62,832,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of PINS. Diversified Trust Co increased its holdings in shares of Pinterest by 58.2% during the third quarter. Diversified Trust Co now owns 16,454 shares of the company’s stock worth $445,000 after buying an additional 6,053 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Pinterest by 60.1% during the third quarter. Wellington Management Group LLP now owns 464,680 shares of the company’s stock valued at $12,560,000 after purchasing an additional 174,406 shares during the last quarter. Hudson Bay Capital Management LP grew its stake in shares of Pinterest by 136.4% during the third quarter. Hudson Bay Capital Management LP now owns 592,683 shares of the company’s stock valued at $16,020,000 after purchasing an additional 341,983 shares during the last quarter. Sunbelt Securities Inc. grew its stake in shares of Pinterest by 2.3% during the third quarter. Sunbelt Securities Inc. now owns 27,472 shares of the company’s stock valued at $743,000 after purchasing an additional 620 shares during the last quarter. Finally, Compass Wealth Management LLC grew its stake in shares of Pinterest by 6.1% during the fourth quarter. Compass Wealth Management LLC now owns 112,200 shares of the company’s stock valued at $4,156,000 after purchasing an additional 6,450 shares during the last quarter. Institutional investors and hedge funds own 88.81% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. JPMorgan Chase & Co. raised their price objective on shares of Pinterest from $38.00 to $44.00 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. Citigroup raised their price objective on shares of Pinterest from $48.00 to $51.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Stifel Nicolaus raised their price objective on shares of Pinterest from $42.00 to $46.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Rosenblatt Securities reaffirmed a “buy” rating and issued a $48.00 price objective (up from $45.00) on shares of Pinterest in a research note on Wednesday, May 1st. Finally, The Goldman Sachs Group raised their price objective on shares of Pinterest from $44.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday. Eight investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $42.04.

Insider Activity at Pinterest

In other news, CAO Andrea Acosta sold 3,845 shares of the firm’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $43.90, for a total transaction of $168,795.50. Following the completion of the transaction, the chief accounting officer now owns 189,470 shares of the company’s stock, valued at $8,317,733. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CAO Andrea Acosta sold 3,845 shares of the firm’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $43.90, for a total transaction of $168,795.50. Following the completion of the transaction, the chief accounting officer now owns 189,470 shares of the company’s stock, valued at $8,317,733. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gokul Rajaram sold 1,934 shares of the stock in a transaction on Monday, April 15th. The stock was sold at an average price of $33.34, for a total transaction of $64,479.56. Following the sale, the director now owns 31,646 shares of the company’s stock, valued at $1,055,077.64. The disclosure for this sale can be found here. Insiders sold a total of 52,184 shares of company stock valued at $2,255,783 in the last quarter. Insiders own 7.11% of the company’s stock.

Pinterest Trading Down 2.0 %

Shares of Pinterest stock traded down $0.83 during trading on Friday, hitting $41.29. 8,632,090 shares of the stock were exchanged, compared to its average volume of 5,694,819. The stock has a market capitalization of $28.21 billion, a price-to-earnings ratio of 196.63, a price-to-earnings-growth ratio of 4.11 and a beta of 0.97. The company has a fifty day moving average price of $42.74 and a 200-day moving average price of $38.29. Pinterest, Inc. has a 1-year low of $23.59 and a 1-year high of $45.19.

Pinterest (NYSE:PINS) last posted its quarterly earnings results on Tuesday, April 30th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $0.05. The business had revenue of $739.98 million for the quarter, compared to analyst estimates of $699.96 million. Pinterest had a net margin of 4.64% and a return on equity of 5.93%. Equities research analysts forecast that Pinterest, Inc. will post 0.44 EPS for the current fiscal 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.