Townsquare Capital LLC Has $1.88 Million Stake in Pinterest, Inc. (NYSE:PINS)

Key Points

• Townsquare Capital LLC increased its holdings in Pinterest, Inc. by 32.9%, acquiring an additional 15,036 shares during the first quarter, bringing their total to 60,763 shares valued at approximately $1,884,000.
• Insider trading activity includes Director Benjamin Silbermann selling 102,083 shares, representing a 92.39% decrease in his ownership, while CFO Donnelly Julia Brau sold 29,606 shares, reflecting a 7.54% decrease in her position.
• Pinterest's stock has been upgraded by several analysts, with a consensus rating of "Moderate Buy" and an average price target of $42.40 following a recent quarterly earnings report that showed a revenue increase of 16.9% year-over-year.

Townsquare Capital LLC increased its holdings in shares of Pinterest, Inc. (NYSE:PINS - Free Report) by 32.9% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 60,763 shares of the company's stock after purchasing an additional 15,036 shares during the quarter. Townsquare Capital LLC's holdings in Pinterest were worth $1,884,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Bartlett & CO. Wealth Management LLC acquired a new stake in Pinterest in the 1st quarter valued at $25,000. Garde Capital Inc. acquired a new stake in shares of Pinterest in the first quarter valued at about $26,000. NBC Securities Inc. increased its position in shares of Pinterest by 99,900.0% in the first quarter. NBC Securities Inc. now owns 1,000 shares of the company's stock valued at $31,000 after acquiring an additional 999 shares during the last quarter. American National Bank & Trust bought a new stake in Pinterest during the first quarter worth about $32,000. Finally, Golden State Wealth Management LLC boosted its position in Pinterest by 665.4% during the first quarter. Golden State Wealth Management LLC now owns 1,217 shares of the company's stock valued at $38,000 after purchasing an additional 1,058 shares during the last quarter. 88.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Wedbush boosted their price target on Pinterest from $42.00 to $44.00 and gave the stock an "outperform" rating in a research report on Friday, August 8th. UBS Group upped their price target on shares of Pinterest from $44.00 to $50.00 and gave the stock a "buy" rating in a research report on Wednesday, July 16th. Wells Fargo & Company set a $42.00 price target on shares of Pinterest and gave the company an "overweight" rating in a research note on Tuesday, July 1st. Bank of America boosted their price objective on shares of Pinterest from $41.00 to $44.00 and gave the stock a "buy" rating in a research note on Friday, August 8th. Finally, Monness Crespi & Hardt upped their target price on shares of Pinterest from $40.00 to $46.00 and gave the company a "buy" rating in a report on Friday, August 8th. Five research analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the stock. According to data from MarketBeat.com, Pinterest currently has an average rating of "Moderate Buy" and an average price target of $42.40.

Insider Buying and Selling at Pinterest

In other Pinterest news, Director Benjamin Silbermann sold 102,083 shares of the firm's stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $37.95, for a total value of $3,874,049.85. Following the transaction, the director directly owned 8,414 shares of the company's stock, valued at $319,311.30. This trade represents a 92.39% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gokul Rajaram sold 1,150 shares of the company's stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $36.88, for a total transaction of $42,412.00. Following the sale, the director directly owned 31,750 shares of the company's stock, valued at approximately $1,170,940. This trade represents a 3.50% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,094,279 shares of company stock valued at $38,062,654 over the last three months. 7.06% of the stock is owned by insiders.

Pinterest Stock Performance

Shares of NYSE PINS traded down $0.50 during midday trading on Friday, reaching $35.85. The company's stock had a trading volume of 8,595,654 shares, compared to its average volume of 12,197,950. The company has a market cap of $24.31 billion, a P/E ratio of 12.85, a P/E/G ratio of 1.79 and a beta of 0.78. The business's 50 day moving average price is $36.21 and its two-hundred day moving average price is $33.21. Pinterest, Inc. has a fifty-two week low of $23.68 and a fifty-two week high of $40.90.

Pinterest (NYSE:PINS - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.01). The company had revenue of $998.23 million during the quarter, compared to analyst estimates of $973.42 million. Pinterest had a net margin of 49.31% and a return on equity of 8.44%. Pinterest's revenue was up 16.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.29 earnings per share. Sell-side analysts forecast 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.