TD Asset Management Inc Sells 97,449 Shares of Pinterest, Inc. $PINS

Key Points

• TD Asset Management Inc reduced its stake in Pinterest, Inc. by 37.9%, selling 97,449 shares and holding 159,360 shares valued at approximately $5.7 million as of the latest reporting period.
• Several institutional investors have significantly increased their holdings in Pinterest, with Amundi raising its position by 618.9% in the first quarter, owning over 14 million shares.
• Analysts have a generally positive outlook on Pinterest, with multiple firms issuing target prices above $40 and a consensus rating of "Moderate Buy" for the stock.

TD Asset Management Inc lessened its position in Pinterest, Inc. (NYSE:PINS - Free Report) by 37.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 159,360 shares of the company's stock after selling 97,449 shares during the period. TD Asset Management Inc's holdings in Pinterest were worth $5,715,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of PINS. Amundi lifted its position in shares of Pinterest by 618.9% in the 1st quarter. Amundi now owns 14,254,741 shares of the company's stock worth $441,897,000 after purchasing an additional 12,271,958 shares during the period. Price T Rowe Associates Inc. MD lifted its position in Pinterest by 25.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 31,892,284 shares of the company's stock valued at $988,662,000 after acquiring an additional 6,460,143 shares during the period. Swedbank AB raised its holdings in Pinterest by 344.0% in the first quarter. Swedbank AB now owns 5,839,485 shares of the company's stock worth $181,024,000 after buying an additional 4,524,433 shares during the last quarter. Pacer Advisors Inc. raised its holdings in Pinterest by 4,673.9% in the first quarter. Pacer Advisors Inc. now owns 2,531,741 shares of the company's stock worth $78,484,000 after buying an additional 2,478,708 shares during the last quarter. Finally, Congress Asset Management Co. purchased a new position in Pinterest in the second quarter worth about $82,516,000. 88.81% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CAO Andrea Acosta sold 3,759 shares of the business's stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $34.96, for a total value of $131,414.64. Following the transaction, the chief accounting officer owned 157,402 shares of the company's stock, valued at approximately $5,502,773.92. The trade was a 2.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Benjamin Silbermann sold 102,083 shares of the business's stock in a transaction on Wednesday, September 24th. The stock was sold at an average price of $34.86, for a total transaction of $3,558,613.38. The disclosure for this sale can be found here. In the last three months, insiders have sold 742,319 shares of company stock valued at $26,752,376. Company insiders own 7.11% of the company's stock.

Pinterest Price Performance

PINS opened at $32.41 on Monday. The firm has a market cap of $22.04 billion, a P/E ratio of 11.62, a PEG ratio of 1.36 and a beta of 0.81. Pinterest, Inc. has a 1-year low of $23.68 and a 1-year high of $40.90. The company has a 50 day simple moving average of $34.70 and a two-hundred day simple moving average of $33.19.

Pinterest (NYSE:PINS - Get Free Report) last posted its quarterly earnings results on Tuesday, September 19th. The company reported $0.11 earnings per share for the quarter. The business had revenue of $665.93 million during the quarter. Pinterest had a net margin of 49.31% and a return on equity of 8.44%. Equities analysts anticipate that Pinterest, Inc. will post 0.6 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Susquehanna reiterated a "positive" rating and issued a $42.00 price target on shares of Pinterest in a research note on Friday, August 8th. Mizuho assumed coverage on shares of Pinterest in a report on Monday, September 29th. They set an "outperform" rating and a $50.00 target price for the company. Sanford C. Bernstein raised their target price on Pinterest from $40.00 to $45.00 and gave the stock an "outperform" rating in a report on Tuesday, July 22nd. KeyCorp raised their target price on Pinterest from $40.00 to $45.00 and gave the stock an "overweight" rating in a report on Thursday, July 17th. Finally, Wedbush raised their target price on Pinterest from $42.00 to $44.00 and gave the stock an "outperform" rating in a report on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $42.67.

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.

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