Pinterest, Inc. $PINS is Eminence Capital LP's 9th Largest Position

Key Points

• Eminence Capital LP has increased its holdings in Pinterest to $179.29 million, owning 5,783,514 shares after purchasing an additional 132,463 shares in the first quarter of 2023.
• Several other institutional investors, including Alliancebernstein, AQR Capital Management, and Amundi, have also significantly raised their stakes in Pinterest, highlighting growing institutional interest.
• Analysts have set new price targets for Pinterest, with KeyCorp raising its target from $40.00 to $45.00 and Citigroup increasing it to $50.00, reflecting a consensus average target of $42.40.

Eminence Capital LP grew its position in Pinterest, Inc. (NYSE:PINS - Free Report) by 2.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,783,514 shares of the company's stock after acquiring an additional 132,463 shares during the period. Pinterest comprises approximately 3.0% of Eminence Capital LP's investment portfolio, making the stock its 9th biggest position. Eminence Capital LP owned approximately 0.85% of Pinterest worth $179,289,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of PINS. Bartlett & CO. Wealth Management LLC acquired a new position in shares of Pinterest in the first quarter worth about $25,000. Garde Capital Inc. acquired a new position in shares of Pinterest in the first quarter worth about $26,000. NBC Securities Inc. raised its position in shares of Pinterest by 99,900.0% during the 1st quarter. NBC Securities Inc. now owns 1,000 shares of the company's stock worth $31,000 after purchasing an additional 999 shares during the last quarter. American National Bank & Trust acquired a new position in shares of Pinterest during the 1st quarter worth about $32,000. Finally, Golden State Wealth Management LLC raised its position in shares of Pinterest by 665.4% during the 1st quarter. Golden State Wealth Management LLC now owns 1,217 shares of the company's stock worth $38,000 after purchasing an additional 1,058 shares during the last quarter. Institutional investors and hedge funds own 88.81% of the company's stock.

Insiders Place Their Bets

In other Pinterest news, Director Benjamin Silbermann sold 102,083 shares of Pinterest stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $37.04, for a total value of $3,781,154.32. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CAO Andrea Acosta sold 3,759 shares of Pinterest stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $34.96, for a total value of $131,414.64. Following the completion of the sale, the chief accounting officer owned 157,402 shares in the company, valued at $5,502,773.92. This represents 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 over the last ninety days. Company insiders own 7.06% of the company's stock.

Pinterest Trading Up 2.1%

PINS stock traded up $0.77 during mid-day trading on Friday, reaching $37.89. The company's stock had a trading volume of 8,399,867 shares, compared to its average volume of 9,248,710. The stock has a market cap of $25.77 billion, a PE ratio of 13.58, a P/E/G ratio of 1.59 and a beta of 0.77. Pinterest, Inc. has a fifty-two week low of $23.68 and a fifty-two week high of $40.90. The company's 50 day moving average is $36.66 and its two-hundred day moving average is $33.15.

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

Analysts Set New Price Targets

Several research firms recently weighed in on PINS. Morgan Stanley upgraded shares of Pinterest from an "equal weight" rating to an "overweight" rating and upped their price target for the stock from $37.00 to $45.00 in a research report on Monday, July 21st. KeyCorp boosted their price target on Pinterest from $40.00 to $45.00 and gave the stock an "overweight" rating in a research report on Thursday, July 17th. Wedbush increased their price objective on Pinterest from $42.00 to $44.00 and gave the company an "outperform" rating in a research note on Friday, August 8th. Monness Crespi & Hardt lifted their target price on shares of Pinterest from $40.00 to $46.00 and gave the stock a "buy" rating in a research note on Friday, August 8th. Finally, Cowen reaffirmed a "buy" rating on shares of Pinterest in a report on Friday, August 8th. Twenty-five research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $42.40.

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.