Pinterest, Inc. $PINS Shares Purchased by Bank of America Corp DE

Bank of America Corp DE increased its holdings in shares of Pinterest, Inc. (NYSE:PINS) by 15.4% in the 1st quarter, HoldingsChannel reports. The firm owned 5,848,116 shares of the company’s stock after acquiring an additional 779,998 shares during the quarter. Bank of America Corp DE’s holdings in Pinterest were worth $107,254,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PINS. Revolve Wealth Partners LLC acquired a new position in Pinterest in the fourth quarter valued at approximately $252,000. Integrated Wealth Concepts LLC lifted its stake in shares of Pinterest by 5.9% in the 1st quarter. Integrated Wealth Concepts LLC now owns 10,943 shares of the company’s stock valued at $339,000 after purchasing an additional 607 shares during the period. Empowered Funds LLC boosted its holdings in Pinterest by 45.6% during the first quarter. Empowered Funds LLC now owns 15,168 shares of the company’s stock worth $470,000 after buying an additional 4,748 shares in the last quarter. Sivia Capital Partners LLC boosted its holdings in Pinterest by 39.5% during the second quarter. Sivia Capital Partners LLC now owns 9,347 shares of the company’s stock worth $335,000 after buying an additional 2,649 shares in the last quarter. Finally, Jump Financial LLC acquired a new stake in Pinterest during the second quarter valued at $696,000. 88.81% of the stock is currently owned by institutional investors and hedge funds.

Key Stories Impacting Pinterest

Here are the key news stories impacting Pinterest this week:

• Positive Sentiment: Q2 results beat expectations: Pinterest reported adjusted earnings of $0.43 per share versus the $0.36 consensus estimate, while revenue reached $1.18 billion compared with expectations of $1.15 billion. Revenue grew 18.2% year over year. Pinterest’s Q2 Earnings Top Estimates on AI-Led Ad Growth
• Positive Sentiment: AI is supporting monetization: AI-powered advertising, stronger monetization and record user growth helped drive the quarterly outperformance and contributed to a more constructive outlook. Spotify and Pinterest Delivered the Growth. Investors Wanted More
• Positive Sentiment: Analyst sentiment was broadly supportive: UBS initiated or reiterated a Buy rating, Cantor Fitzgerald assigned an Overweight rating, and Evercore raised its price target to $29. RBC also increased its target to $25. Guggenheim, Morgan Stanley, Robert W. Baird and Rosenblatt analysts expressed expectations for further appreciation. Evercore Boosts Pinterest Price Target
• Neutral Sentiment: Valuation remains a debate: Some analysts view the post-earnings weakness as a buying opportunity, citing Pinterest’s high-intent users, high-teens revenue growth and disciplined expense management. Pinterest: Despite North American User Choppiness, Worth The Cheap Multiples
• Negative Sentiment: Key risks limited the reaction: Investors were disappointed by at least one user-related metric, particularly choppiness in North American users. Monetization initiatives are also creating margin pressure, while Wedbush maintained a Neutral or Hold rating. PINS Q2 Deep Dive

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Royal Bank Of Canada upped their price objective on shares of Pinterest from $23.00 to $25.00 and gave the stock a “sector perform” rating in a research report on Wednesday. Mizuho lifted their target price on shares of Pinterest from $31.00 to $32.00 and gave the company an “outperform” rating in a research report on Wednesday. Rosenblatt Securities upped their price target on shares of Pinterest from $24.00 to $25.00 and gave the stock a “neutral” rating in a research report on Wednesday. TD Cowen reissued a “buy” rating on shares of Pinterest in a research note on Monday, June 22nd. Finally, Oppenheimer upped their price target on Pinterest from $24.00 to $30.00 and gave the company an “outperform” rating in a research report on Tuesday, May 5th. Seventeen research analysts have rated the stock with a Buy rating and nineteen have given a Hold rating to the stock. According to data from MarketBeat, Pinterest has an average rating of “Hold” and an average target price of $27.90.

Insider Buying and Selling at Pinterest

In other Pinterest news, Director Benjamin Silbermann sold 46,875 shares of the business’s stock in a transaction on Tuesday, July 21st. The shares were sold at an average price of $22.54, for a total value of $1,056,562.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Donnelly Julia Brau sold 59,096 shares of the company’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $23.48, for a total value of $1,387,574.08. Following the sale, the chief financial officer directly owned 817,409 shares in the company, valued at $19,192,763.32. This represents a 6.74% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 429,816 shares of company stock valued at $9,280,201 in the last 90 days. Company insiders own 8.09% of the company’s stock.

Pinterest Stock Performance

NYSE:PINS opened at $23.73 on Friday. Pinterest, Inc. has a fifty-two week low of $13.84 and a fifty-two week high of $38.57. The company has a debt-to-equity ratio of 0.34, a quick ratio of 4.23 and a current ratio of 3.81. The company has a 50 day moving average price of $22.12 and a 200 day moving average price of $20.48. The stock has a market capitalization of $13.29 billion, a P/E ratio of 69.80, a PEG ratio of 1.25 and a beta of 0.90.

Pinterest (NYSE:PINS) last announced its earnings results on Tuesday, August 4th. The company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.07. The company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.15 billion. Pinterest had a return on equity of 7.49% and a net margin of 5.46%.The firm’s quarterly revenue was up 18.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.33 earnings per share. Equities research analysts forecast that Pinterest, Inc. will post 0.63 EPS for the current year.

Pinterest Company Profile

Pinterest, Inc operates a visual discovery platform that helps users find inspiration and ideas for projects ranging from home design and fashion to cooking and travel. Users create and curate “Pins” — images or videos linked to content — organized on thematic boards. The service is available through its website and mobile applications and emphasizes personalized recommendations and visual search to surface relevant content based on user interests.

The company’s primary revenue model is advertising, offering promoted content formats that integrate into user feeds and search results.