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

TimesSquare Capital Management LLC reduced its position in shares of Pinterest, Inc. (NYSE:PINS) by 3.6% in the 4th quarter, Holdings Channel.com reports. The firm owned 1,926,610 shares of the company’s stock after selling 71,515 shares during the period. TimesSquare Capital Management LLC’s holdings in Pinterest were worth $71,362,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of PINS. Cambridge Investment Research Advisors Inc. increased its stake in shares of Pinterest by 5.5% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 42,809 shares of the company’s stock worth $1,157,000 after acquiring an additional 2,247 shares during the period. Raymond James & Associates boosted its holdings in Pinterest by 28.8% during the third quarter. Raymond James & Associates now owns 488,012 shares of the company’s stock worth $13,191,000 after buying an additional 109,223 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its holdings in Pinterest by 31.6% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 112,753 shares of the company’s stock worth $3,048,000 after buying an additional 27,087 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Pinterest by 1.6% during the third quarter. Bank of New York Mellon Corp now owns 2,484,116 shares of the company’s stock worth $67,146,000 after buying an additional 39,431 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Pinterest by 9.7% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 109,903 shares of the company’s stock worth $2,971,000 after buying an additional 9,689 shares in the last quarter. 88.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on PINS. Citigroup upped their price target on shares of Pinterest from $48.00 to $51.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Benchmark reaffirmed a “hold” rating on shares of Pinterest in a report on Wednesday, May 1st. JPMorgan Chase & Co. upped 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. Rosenblatt Securities reissued a “buy” rating and set a $48.00 price objective (up previously from $45.00) on shares of Pinterest in a research note on Wednesday, May 1st. Finally, Argus raised shares of Pinterest from a “hold” rating to a “buy” rating and set a $45.00 price objective on the stock in a research note on Thursday, January 18th. Eight research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $41.26.

Pinterest Stock Performance

Shares of Pinterest stock traded up $0.02 during trading hours on Thursday, reaching $42.66. The company’s stock had a trading volume of 6,098,398 shares, compared to its average volume of 10,186,194. The company’s 50 day simple moving average is $35.16 and its 200 day simple moving average is $34.91. Pinterest, Inc. has a one year low of $21.02 and a one year high of $42.85. The stock has a market cap of $29.14 billion, a P/E ratio of 202.38, a price-to-earnings-growth ratio of 4.02 and a beta of 0.99.

Pinterest (NYSE:PINS) last posted its quarterly earnings results on Thursday, February 8th. The company reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.04. Pinterest had a net margin of 4.64% and a return on equity of 5.93%. The company had revenue of $981.26 million for the quarter, compared to the consensus estimate of $988.62 million. On average, sell-side analysts predict that Pinterest, Inc. will post 0.43 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Donnelly Julia Brau sold 65,972 shares of the stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $34.42, for a total value of $2,270,756.24. Following the sale, the chief financial officer now owns 392,829 shares of the company’s stock, valued at approximately $13,521,174.18. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Pinterest news, CFO Donnelly Julia Brau sold 65,972 shares of the firm’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $34.42, for a total transaction of $2,270,756.24. Following the transaction, the chief financial officer now owns 392,829 shares of the company’s stock, valued at approximately $13,521,174.18. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Sabrina Ellis sold 24,410 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $35.49, for a total transaction of $866,310.90. Following the transaction, the insider now directly owns 500,504 shares in the company, valued at approximately $17,762,886.96. The disclosure for this sale can be found here. Insiders have sold a total of 164,471 shares of company stock valued at $5,773,431 in the last quarter. Company insiders own 7.11% of the company’s stock.

Pinterest 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.