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

TimesSquare Capital Management LLC lifted its stake in Pinterest, Inc. (NYSE:PINS) by 16.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,963,645 shares of the company’s stock after buying an additional 273,855 shares during the quarter. TimesSquare Capital Management LLC’s holdings in Pinterest were worth $63,563,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. 1832 Asset Management L.P. bought a new stake in Pinterest in the 2nd quarter valued at $98,655,000. Ninety One UK Ltd grew its position in shares of Pinterest by 44.6% during the second quarter. Ninety One UK Ltd now owns 5,445,674 shares of the company’s stock valued at $239,991,000 after purchasing an additional 1,679,348 shares in the last quarter. Acadian Asset Management LLC grew its position in shares of Pinterest by 31.6% during the second quarter. Acadian Asset Management LLC now owns 5,645,845 shares of the company’s stock valued at $248,793,000 after purchasing an additional 1,356,459 shares in the last quarter. AMI Asset Management Corp bought a new stake in shares of Pinterest in the second quarter worth about $57,569,000. Finally, American Century Companies Inc. lifted its position in shares of Pinterest by 57.6% in the second quarter. American Century Companies Inc. now owns 3,042,065 shares of the company’s stock worth $134,064,000 after buying an additional 1,112,163 shares in the last quarter. Institutional investors own 88.81% of the company’s stock.

Insider Transactions at Pinterest

In related news, CFO Donnelly Julia Brau sold 30,280 shares of the business’s stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $32.72, for a total value of $990,761.60. Following the completion of the sale, the chief financial officer now owns 297,351 shares in the company, valued at approximately $9,729,324.72. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Donnelly Julia Brau sold 30,280 shares of Pinterest stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $32.72, for a total value of $990,761.60. Following the completion of the sale, the chief financial officer now directly owns 297,351 shares in the company, valued at $9,729,324.72. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Gokul Rajaram sold 1,150 shares of the stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $33.52, for a total transaction of $38,548.00. Following the transaction, the director now owns 33,686 shares in the company, valued at approximately $1,129,154.72. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 7.11% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft initiated coverage on Pinterest in a report on Monday, September 23rd. They set a “buy” rating and a $43.00 price target for the company. Stifel Nicolaus cut their target price on shares of Pinterest from $46.00 to $45.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Rosenblatt Securities decreased their price target on shares of Pinterest from $48.00 to $46.00 and set a “buy” rating on the stock in a research note on Friday. Wedbush lifted their price objective on shares of Pinterest from $37.00 to $38.00 and gave the stock a “neutral” rating in a research note on Friday. Finally, Citigroup reduced their target price on shares of Pinterest from $51.00 to $44.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Eight research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $42.22.

Pinterest Price Performance

Shares of PINS opened at $29.18 on Friday. The firm has a market capitalization of $20.02 billion, a price-to-earnings ratio of 97.27, a PEG ratio of 2.60 and a beta of 1.02. Pinterest, Inc. has a 1-year low of $27.00 and a 1-year high of $45.19. The company has a 50-day moving average of $31.82 and a 200 day moving average of $36.33.

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.