Pinterest, Inc. (NYSE:PINS) Shares Bought by TimesSquare Capital Management LLC

TimesSquare Capital Management LLC lifted its stake in Pinterest, Inc. (NYSE:PINS - Free Report) by 16.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,963,645 shares of the company's stock after purchasing an additional 273,855 shares during the period. TimesSquare Capital Management LLC owned about 0.29% of Pinterest worth $63,563,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC increased its holdings in Pinterest by 195.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,151 shares of the company's stock worth $75,000 after acquiring an additional 1,422 shares in the last quarter. Norden Group LLC purchased a new stake in shares of Pinterest during the first quarter worth approximately $214,000. Janney Montgomery Scott LLC increased its stake in shares of Pinterest by 7.6% during the first quarter. Janney Montgomery Scott LLC now owns 59,678 shares of the company's stock worth $2,069,000 after buying an additional 4,237 shares during the period. Geneos Wealth Management Inc. increased its stake in Pinterest by 26.1% in the first quarter. Geneos Wealth Management Inc. now owns 3,566 shares of the company's stock valued at $124,000 after purchasing an additional 737 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. grew its position in shares of Pinterest by 19.8% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 20,424 shares of the company's stock worth $708,000 after acquiring an additional 3,371 shares during the last quarter. 88.81% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on PINS shares. Wolfe Research began coverage on Pinterest in a report on Tuesday, July 16th. They issued a "peer perform" rating for the company. Rosenblatt Securities reduced their price target on Pinterest from $48.00 to $46.00 and set a "buy" rating on the stock in a research report on Friday. JPMorgan Chase & Co. cut their target price on Pinterest from $38.00 to $35.00 and set a "neutral" rating on the stock in a research report on Friday. Citigroup lowered their price objective on Pinterest from $51.00 to $44.00 and set a "buy" rating for the company in a research note on Wednesday, July 31st. Finally, KeyCorp upped their price objective on Pinterest from $43.00 to $45.00 and gave the company an "overweight" rating in a report on Wednesday, October 9th. Eight investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $42.22.

Pinterest Stock Performance

PINS traded down $4.75 on Friday, hitting $29.18. The company had a trading volume of 55,970,287 shares, compared to its average volume of 7,231,749. The stock has a fifty day moving average price of $31.82 and a 200-day moving average price of $36.36. Pinterest, Inc. has a 12-month low of $27.00 and a 12-month high of $45.19. The stock has a market capitalization of $20.02 billion, a price-to-earnings ratio of 97.27, a P/E/G ratio of 2.25 and a beta of 1.02.

Insider Buying and Selling

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

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.