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

TimesSquare Capital Management LLC boosted its position in shares of Pinterest, Inc. (NYSE:PINS) by 6.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,088,500 shares of the company’s stock after buying an additional 124,855 shares during the period. TimesSquare Capital Management LLC’s holdings in Pinterest were worth $60,566,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Maverick Capital Ltd. increased its stake in Pinterest by 47.6% during the 3rd quarter. Maverick Capital Ltd. now owns 57,180 shares of the company’s stock worth $1,851,000 after buying an additional 18,430 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec increased its stake in Pinterest by 8.4% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,540,152 shares of the company’s stock worth $49,855,000 after buying an additional 119,367 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in Pinterest by 4.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 844,187 shares of the company’s stock worth $27,326,000 after buying an additional 32,539 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Pinterest by 2.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,252,996 shares of the company’s stock valued at $137,669,000 after purchasing an additional 87,041 shares in the last quarter. Finally, Kornitzer Capital Management Inc. KS grew its position in shares of Pinterest by 20.3% in the third quarter. Kornitzer Capital Management Inc. KS now owns 404,296 shares of the company’s stock valued at $13,087,000 after purchasing an additional 68,096 shares in the last quarter. 88.81% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Pinterest news, Director Gokul Rajaram sold 1,150 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $30.98, for a total transaction of $35,627.00. Following the transaction, the director now owns 31,386 shares of the company’s stock, valued at approximately $972,338.28. This trade represents a 3.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Andrea Acosta sold 3,845 shares of the stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $30.88, for a total transaction of $118,733.60. Following the sale, the chief accounting officer now owns 158,468 shares of the company’s stock, valued at $4,893,491.84. This trade represents a 2.37 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 18,007 shares of company stock valued at $554,942. 7.11% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on PINS. Rosenblatt Securities upped their price target on Pinterest from $46.00 to $51.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Guggenheim upped their price target on Pinterest from $33.00 to $39.00 and gave the company a “neutral” rating in a research report on Friday, February 7th. Oppenheimer upped their price target on Pinterest from $40.00 to $50.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Piper Sandler reiterated a “neutral” rating and issued a $41.00 price objective (up from $36.00) on shares of Pinterest in a report on Friday, February 7th. Finally, Raymond James upped their price objective on Pinterest from $34.00 to $42.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Eight investment analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $43.86.

Pinterest Price Performance

NYSE:PINS opened at $39.35 on Wednesday. The firm has a market capitalization of $26.69 billion, a PE ratio of 14.63, a price-to-earnings-growth ratio of 1.91 and a beta of 1.06. The business’s fifty day moving average price is $32.31 and its 200 day moving average price is $31.60. Pinterest, Inc. has a 12 month low of $27.00 and a 12 month high of $45.19.

Pinterest (NYSE:PINS) last issued its quarterly earnings data on Thursday, February 6th. The company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.63 by ($0.30). Pinterest had a return on equity of 8.10% and a net margin of 51.07%. As a group, equities analysts anticipate that Pinterest, Inc. will post 0.6 EPS for the current 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.