TimesSquare Capital Management LLC Increases Stake in Pinterest, Inc. (NYSE:PINS)

TimesSquare Capital Management LLC boosted its holdings in shares of Pinterest, Inc. (NYSE:PINS - Free Report) by 4.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,184,740 shares of the company's stock after buying an additional 96,240 shares during the quarter. Pinterest comprises 1.1% of TimesSquare Capital Management LLC's portfolio, making the stock its 28th biggest holding. TimesSquare Capital Management LLC owned 0.32% of Pinterest worth $67,727,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Janney Montgomery Scott LLC increased its holdings in shares of Pinterest by 73.9% in the first quarter. Janney Montgomery Scott LLC now owns 89,034 shares of the company's stock valued at $2,760,000 after purchasing an additional 37,829 shares in the last quarter. Sequoia Financial Advisors LLC bought a new stake in Pinterest during the 1st quarter worth about $235,000. Concurrent Investment Advisors LLC bought a new stake in Pinterest during the 1st quarter worth about $261,000. Wealth Enhancement Advisory Services LLC lifted its position in Pinterest by 21.1% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 112,201 shares of the company's stock worth $3,478,000 after buying an additional 19,552 shares in the last quarter. Finally, Revolve Wealth Partners LLC bought a new stake in Pinterest during the 4th quarter worth about $252,000. 88.81% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Pinterest news, CFO Donnelly Julia Brau sold 29,606 shares of the business's stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $34.25, for a total value of $1,014,005.50. Following the completion of the transaction, the chief financial officer owned 362,890 shares of the company's stock, valued at $12,428,982.50. The trade was a 7.54% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Wanjiku Juanita Walcott sold 11,510 shares of the business's stock in a transaction that occurred on Friday, June 27th. The stock was sold at an average price of $35.68, for a total transaction of $410,676.80. Following the completion of the transaction, the insider directly owned 390,230 shares of the company's stock, valued at approximately $13,923,406.40. This represents a 2.87% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,278,445 shares of company stock worth $43,269,922. Insiders own 7.06% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PINS. Stifel Nicolaus lowered their price objective on shares of Pinterest from $50.00 to $36.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. Wells Fargo & Company set a $42.00 price objective on shares of Pinterest and gave the stock an "overweight" rating in a research note on Tuesday, July 1st. BMO Capital Markets lowered their price objective on shares of Pinterest from $46.00 to $40.00 and set an "outperform" rating on the stock in a research note on Friday, May 9th. Oppenheimer boosted their price objective on shares of Pinterest from $36.00 to $40.00 and gave the stock an "outperform" rating in a research note on Friday, May 9th. Finally, Wedbush upped their price target on shares of Pinterest from $40.00 to $42.00 and gave the company an "outperform" rating in a research note on Thursday. Six research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $41.19.

Pinterest Stock Up 0.2%

Pinterest stock traded up $0.09 during midday trading on Thursday, hitting $36.17. 3,675,994 shares of the stock were exchanged, compared to its average volume of 11,053,867. The stock has a market capitalization of $24.53 billion, a price-to-earnings ratio of 13.21, a price-to-earnings-growth ratio of 1.80 and a beta of 0.94. Pinterest, Inc. has a 52-week low of $23.68 and a 52-week high of $42.20. The business's 50-day moving average price is $33.80 and its 200-day moving average price is $32.25.

Pinterest (NYSE:PINS - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.02). Pinterest had a net margin of 50.41% and a return on equity of 8.13%. The business had revenue of $854.99 million during the quarter, compared to the consensus estimate of $848.49 million. During the same period last year, the firm earned $0.17 EPS. The business's revenue for the quarter was up 15.5% on a year-over-year basis. On average, sell-side analysts predict that Pinterest, Inc. will post 0.6 earnings per share 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.