TD Asset Management Inc Lowers Position in Pinterest, Inc. $PINS

TD Asset Management Inc lessened its stake in Pinterest, Inc. (NYSE:PINS) by 37.9% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 159,360 shares of the company’s stock after selling 97,449 shares during the quarter. TD Asset Management Inc’s holdings in Pinterest were worth $5,715,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of PINS. TD Private Client Wealth LLC lifted its position in Pinterest by 16.5% during the second quarter. TD Private Client Wealth LLC now owns 2,623 shares of the company’s stock valued at $94,000 after purchasing an additional 371 shares during the last quarter. Riverpark Capital Management LLC raised its stake in shares of Pinterest by 1.2% in the first quarter. Riverpark Capital Management LLC now owns 31,825 shares of the company’s stock valued at $987,000 after acquiring an additional 377 shares during the period. Optas LLC raised its stake in shares of Pinterest by 1.9% in the second quarter. Optas LLC now owns 23,315 shares of the company’s stock valued at $836,000 after acquiring an additional 442 shares during the period. Smartleaf Asset Management LLC raised its stake in shares of Pinterest by 18.6% in the first quarter. Smartleaf Asset Management LLC now owns 3,040 shares of the company’s stock valued at $96,000 after acquiring an additional 476 shares during the period. Finally, ASR Vermogensbeheer N.V. raised its stake in shares of Pinterest by 1.4% in the second quarter. ASR Vermogensbeheer N.V. now owns 35,941 shares of the company’s stock valued at $1,289,000 after acquiring an additional 485 shares during the period. Hedge funds and other institutional investors own 88.81% of the company’s stock.

Pinterest Stock Performance

NYSE:PINS opened at $32.41 on Monday. Pinterest, Inc. has a fifty-two week low of $23.68 and a fifty-two week high of $40.90. The stock has a market capitalization of $22.04 billion, a P/E ratio of 11.62, a P/E/G ratio of 1.36 and a beta of 0.81. The company’s 50-day simple moving average is $34.70 and its 200-day simple moving average is $33.19.

Pinterest (NYSE:PINS) last released its quarterly earnings results on Tuesday, September 19th. The company reported $0.11 earnings per share for the quarter. Pinterest had a net margin of 49.31% and a return on equity of 8.44%. The business had revenue of $665.93 million for the quarter. On average, research analysts forecast that Pinterest, Inc. will post 0.6 EPS for the current year.

Insider Activity at Pinterest

In other Pinterest news, CFO Donnelly Julia Brau sold 22,821 shares of the business’s stock in a transaction that occurred on Wednesday, September 24th. The shares were sold at an average price of $34.85, for a total transaction of $795,311.85. Following the sale, the chief financial officer owned 312,422 shares of the company’s stock, valued at approximately $10,887,906.70. The trade was a 6.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Gokul Rajaram sold 1,150 shares of Pinterest stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $35.00, for a total transaction of $40,250.00. Following the sale, the director owned 30,600 shares of the company’s stock, valued at approximately $1,071,000. The trade was a 3.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 742,319 shares of company stock worth $26,752,376 in the last quarter. 7.11% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Wells Fargo & Company set a $42.00 price target on shares of Pinterest and gave the stock an “overweight” rating in a research note on Tuesday, July 1st. UBS Group raised their price target on shares of Pinterest from $50.00 to $51.00 and gave the stock a “buy” rating in a research note on Thursday, October 9th. KeyCorp raised their target price on shares of Pinterest from $40.00 to $45.00 and gave the company an “overweight” rating in a research report on Thursday, July 17th. Guggenheim reissued a “buy” rating on shares of Pinterest in a research report on Tuesday, September 2nd. Finally, Cowen reissued a “buy” rating on shares of Pinterest in a research report on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $42.67.

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.