Bank of America Corp DE Acquires 779,998 Shares of Pinterest, Inc. $PINS

Key Points

• Bank of America increased its Pinterest stake by 15.4% in the first quarter, acquiring 779,998 shares and bringing its total holdings to 5.85 million shares worth approximately $107.3 million.
• Pinterest reported better-than-expected quarterly results, with adjusted EPS of $0.43 versus $0.36 expected and revenue of $1.18 billion, up 18.2% year over year. AI-driven advertising and stronger monetization supported growth, although margin pressure and uneven North American user trends remain risks.
• Analyst sentiment is mixed but generally constructive, with 17 Buy ratings and 19 Holds and an average price target of $27.90. Meanwhile, insiders sold shares under pre-arranged trading plans, including a $1.39 million sale by the CFO.

Bank of America Corp DE increased its holdings in shares of Pinterest, Inc. (NYSE:PINS - Free Report) by 15.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,848,116 shares of the company's stock after acquiring an additional 779,998 shares during the period. Bank of America Corp DE owned approximately 1.04% of Pinterest worth $107,254,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Elevated Capital Advisors LLC bought a new position in shares of Pinterest in the fourth quarter worth approximately $26,000. Caitong International Asset Management Co. Ltd raised its position in Pinterest by 2,017.3% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,101 shares of the company's stock worth $29,000 after buying an additional 1,049 shares during the last quarter. Addison Advisors LLC raised its position in Pinterest by 727.3% in the 4th quarter. Addison Advisors LLC now owns 1,365 shares of the company's stock worth $35,000 after buying an additional 1,200 shares during the last quarter. Garner Asset Management Corp bought a new position in Pinterest during the 4th quarter valued at about $36,000. Finally, Summit Securities Group LLC bought a new position in Pinterest during the 1st quarter valued at about $43,000. Hedge funds and other institutional investors own 88.81% of the company's stock.

Key Pinterest News

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

Wall Street Analysts Forecast Growth

PINS has been the subject of a number of research reports. Weiss Ratings upgraded shares of Pinterest from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Tuesday, July 28th. Wells Fargo & Company boosted their price target on Pinterest from $30.00 to $31.00 and gave the company an "overweight" rating in a research note on Thursday. Stifel Nicolaus upped their price target on shares of Pinterest from $25.00 to $27.00 and gave the company a "buy" rating in a research report on Tuesday, May 5th. Morgan Stanley increased their price objective on shares of Pinterest from $30.00 to $32.00 and gave the stock an "overweight" rating in a research note on Wednesday. Finally, DA Davidson boosted their price objective on shares of Pinterest from $26.00 to $27.00 and gave the company a "buy" rating in a research report on Wednesday. Seventeen investment analysts have rated the stock with a Buy rating and nineteen have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $27.90.

Insider Activity at Pinterest

In other news, insider Wanjiku Juanita Walcott sold 14,208 shares of the firm's stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $19.65, for a total value of $279,187.20. Following the sale, the insider directly owned 691,840 shares in the company, valued at approximately $13,594,656. This trade represents a 2.01% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Donnelly Julia Brau sold 59,096 shares of the stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $23.48, for a total transaction of $1,387,574.08. Following the sale, the chief financial officer directly owned 817,409 shares of the company's stock, valued at $19,192,763.32. The trade was a 6.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 429,816 shares of company stock valued at $9,280,201 over the last quarter. 8.09% of the stock is owned by corporate insiders.

Pinterest Stock Performance

Pinterest stock opened at $23.73 on Friday. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.81 and a quick ratio of 4.23. Pinterest, Inc. has a 1-year low of $13.84 and a 1-year high of $38.57. The firm has a market capitalization of $13.29 billion, a P/E ratio of 69.80, a price-to-earnings-growth ratio of 1.25 and a beta of 0.90. The company's 50-day moving average is $22.12 and its 200 day moving average is $20.48.

Pinterest (NYSE:PINS - Get Free Report) last posted its quarterly earnings data 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 during the quarter, compared to analysts' expectations of $1.15 billion. Pinterest had a return on equity of 7.49% and a net margin of 5.46%.Pinterest's revenue was up 18.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.33 EPS. Research analysts forecast that Pinterest, Inc. will post 0.63 EPS for the current year.

Pinterest 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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