Contour Asset Management LLC Raises Stake in Pinterest, Inc. $PINS

Key Points

• Contour Asset Management LLC increased its stake in Pinterest by 10.5% during the first quarter, owning over 3.28 million shares, which represents about 4.1% of their portfolio.
• Other institutions, such as Price T Rowe Associates and Pacer Advisors, also significantly raised their holdings in Pinterest, indicating growing interest from institutional investors in the company.
• Pinterest reported $0.33 EPS for the latest quarter, missing estimates but achieving a 16.9% year-over-year revenue increase, which totaled nearly $1 billion.

Contour Asset Management LLC increased its position in Pinterest, Inc. (NYSE:PINS - Free Report) by 10.5% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,288,324 shares of the company's stock after acquiring an additional 311,428 shares during the period. Pinterest comprises approximately 4.1% of Contour Asset Management LLC's holdings, making the stock its 11th largest position. Contour Asset Management LLC owned approximately 0.48% of Pinterest worth $101,938,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the company. Focus Partners Advisor Solutions LLC purchased a new position in Pinterest in the 1st quarter worth approximately $607,000. Point72 Italy S.r.l. purchased a new position in Pinterest in the 1st quarter worth approximately $4,842,000. Benchstone Capital Management LP purchased a new position in Pinterest in the 1st quarter worth approximately $18,515,000. Alamea Verwaltungs GmbH purchased a new position in Pinterest in the 1st quarter worth approximately $286,000. Finally, Quarry LP raised its holdings in Pinterest by 126.0% in the 1st quarter. Quarry LP now owns 5,816 shares of the company's stock worth $180,000 after acquiring an additional 3,242 shares during the last quarter. 88.81% of the stock is currently owned by hedge funds and other institutional investors.

Pinterest Trading Up 2.1%

Pinterest stock traded up $0.77 during mid-day trading on Friday, hitting $37.89. The stock had a trading volume of 8,399,867 shares, compared to its average volume of 9,248,710. The firm has a market capitalization of $25.77 billion, a P/E ratio of 13.58, a P/E/G ratio of 1.55 and a beta of 0.77. The firm's 50 day moving average is $36.66 and its 200 day moving average is $33.19. Pinterest, Inc. has a one year low of $23.68 and a one year high of $40.90.

Pinterest (NYSE:PINS - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.01). The firm had revenue of $998.23 million during the quarter, compared to the consensus estimate of $973.42 million. Pinterest had a return on equity of 8.44% and a net margin of 49.31%.The company's quarterly revenue was up 16.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.29 EPS. Pinterest has set its Q3 2025 guidance at EPS. As a group, equities research analysts forecast that Pinterest, Inc. will post 0.6 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on PINS shares. Wall Street Zen upgraded shares of Pinterest from a "hold" rating to a "buy" rating in a report on Saturday, August 30th. Piper Sandler set a $40.00 target price on shares of Pinterest in a research note on Friday, August 8th. Wedbush boosted their target price on shares of Pinterest from $42.00 to $44.00 and gave the company an "outperform" rating in a research note on Friday, August 8th. JPMorgan Chase & Co. upgraded shares of Pinterest from a "neutral" rating to an "overweight" rating and boosted their target price for the company from $35.00 to $40.00 in a research note on Tuesday, June 3rd. Finally, Morgan Stanley upgraded shares of Pinterest from an "equal weight" rating to an "overweight" rating and boosted their target price for the company from $37.00 to $45.00 in a research note on Monday, July 21st. Twenty-five investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, Pinterest currently has a consensus rating of "Moderate Buy" and a consensus target price of $42.40.

Insider Activity at Pinterest

In other Pinterest news, Director Benjamin Silbermann sold 102,083 shares of the business's stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $37.04, for a total value of $3,781,154.32. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Andrea Acosta sold 3,759 shares of the business's stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $34.96, for a total transaction of $131,414.64. Following the completion of the sale, the chief accounting officer owned 157,402 shares in the company, valued at approximately $5,502,773.92. The trade was a 2.33% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,088,005 shares of company stock worth $39,009,156 in the last quarter. 7.06% of the stock is owned by company 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.