TimesSquare Capital Management LLC Decreases Stock Position in Pinterest, Inc. (NYSE:PINS)

TimesSquare Capital Management LLC reduced its position in Pinterest, Inc. (NYSE:PINS) by 3.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,926,610 shares of the company’s stock after selling 71,515 shares during the quarter. TimesSquare Capital Management LLC owned approximately 0.29% of Pinterest worth $71,362,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of PINS. Ameriprise Financial Inc. grew its position in shares of Pinterest by 43.9% in the third quarter. Ameriprise Financial Inc. now owns 11,122,436 shares of the company’s stock valued at $300,639,000 after purchasing an additional 3,390,924 shares in the last quarter. Baillie Gifford & Co. grew its position in Pinterest by 12.6% during the fourth quarter. Baillie Gifford & Co. now owns 9,305,759 shares of the company’s stock worth $344,685,000 after buying an additional 1,043,173 shares in the last quarter. Clearbridge Investments LLC grew its position in Pinterest by 26.0% during the third quarter. Clearbridge Investments LLC now owns 6,820,443 shares of the company’s stock worth $184,357,000 after buying an additional 1,407,793 shares in the last quarter. FMR LLC grew its position in Pinterest by 8.1% during the third quarter. FMR LLC now owns 5,097,160 shares of the company’s stock worth $137,776,000 after buying an additional 381,837 shares in the last quarter. Finally, Fred Alger Management LLC grew its position in Pinterest by 279,496.9% during the third quarter. Fred Alger Management LLC now owns 4,672,065 shares of the company’s stock worth $126,286,000 after buying an additional 4,670,394 shares in the last quarter. 88.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on PINS. Wells Fargo & Company boosted their target price on Pinterest from $47.00 to $48.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 1st. Benchmark reaffirmed a “hold” rating on shares of Pinterest in a research note on Wednesday, May 1st. Loop Capital lifted their price target on Pinterest from $43.00 to $49.00 and gave the stock a “buy” rating in a research note on Monday. Susquehanna lifted their price target on Pinterest from $35.00 to $45.00 and gave the stock a “positive” rating in a research note on Friday, February 9th. Finally, KeyCorp dropped their price target on Pinterest from $48.00 to $40.00 and set an “overweight” rating for the company in a research note on Wednesday, April 24th. Eight analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $41.26.

Insiders Place Their Bets

In other Pinterest news, CFO Donnelly Julia Brau sold 65,972 shares of the stock in a transaction on Monday, March 11th. The stock was sold at an average price of $34.42, for a total value of $2,270,756.24. Following the completion of the sale, the chief financial officer now owns 392,829 shares in the company, valued at approximately $13,521,174.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CFO Donnelly Julia Brau sold 65,972 shares of the firm’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $34.42, for a total transaction of $2,270,756.24. Following the completion of the transaction, the chief financial officer now owns 392,829 shares in the company, valued at $13,521,174.18. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Gokul Rajaram sold 1,934 shares of the firm’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $33.34, for a total value of $64,479.56. Following the transaction, the director now owns 31,646 shares of the company’s stock, valued at approximately $1,055,077.64. The disclosure for this sale can be found here. In the last quarter, insiders sold 164,471 shares of company stock worth $5,773,431. Corporate insiders own 7.11% of the company’s stock.

Pinterest Stock Performance

Shares of NYSE PINS traded up $0.02 during midday trading on Thursday, hitting $42.66. 6,098,398 shares of the stock traded hands, compared to its average volume of 10,186,194. Pinterest, Inc. has a one year low of $21.02 and a one year high of $42.85. The firm has a 50-day moving average of $35.16 and a two-hundred day moving average of $34.91. The firm has a market capitalization of $29.14 billion, a P/E ratio of 202.38, a PEG ratio of 4.02 and a beta of 0.99.

Pinterest (NYSE:PINS) last announced its earnings results on Thursday, February 8th. The company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.04. Pinterest had a return on equity of 5.93% and a net margin of 4.64%. The company had revenue of $981.26 million for the quarter, compared to analysts’ expectations of $988.62 million. Equities analysts forecast that Pinterest, Inc. will post 0.43 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.