Fred Alger Management LLC Has $68.12 Million Holdings in Pinterest, Inc. $PINS

Key Points

• Fred Alger Management LLC reduced its stake in Pinterest, Inc. by 3.8%, holding approximately 2.2 million shares valued at $68.1 million as of the latest SEC filing.
• Pinterest reported earnings of $0.33 EPS for the last quarter, slightly below analyst expectations, but its revenue increased by 16.9% year-over-year, reaching $998.23 million.
• Analysts have mixed ratings on Pinterest, with Barclays setting a new price target of $40.00 and Morgan Stanley upgrading the stock to "overweight" with a target of $45.00.

Fred Alger Management LLC lessened its stake in shares of Pinterest, Inc. (NYSE:PINS - Free Report) by 3.8% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,197,335 shares of the company's stock after selling 87,265 shares during the quarter. Fred Alger Management LLC owned about 0.32% of Pinterest worth $68,117,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in PINS. Amundi boosted its stake in shares of Pinterest by 618.9% during the 1st quarter. Amundi now owns 14,254,741 shares of the company's stock worth $441,897,000 after acquiring an additional 12,271,958 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Pinterest by 25.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 31,892,284 shares of the company's stock worth $988,662,000 after acquiring an additional 6,460,143 shares in the last quarter. Shapiro Capital Management LLC bought a new stake in shares of Pinterest during the 4th quarter worth about $84,190,000. Pacer Advisors Inc. boosted its stake in shares of Pinterest by 4,673.9% during the 1st quarter. Pacer Advisors Inc. now owns 2,531,741 shares of the company's stock worth $78,484,000 after acquiring an additional 2,478,708 shares in the last quarter. Finally, Worldquant Millennium Advisors LLC boosted its stake in shares of Pinterest by 12,207.2% during the 4th quarter. Worldquant Millennium Advisors LLC now owns 2,023,062 shares of the company's stock worth $58,669,000 after acquiring an additional 2,006,624 shares in the last quarter. Institutional investors own 88.81% of the company's stock.

Pinterest Stock Up 0.2%

Pinterest stock traded up $0.08 during trading hours on Friday, hitting $35.04. The stock had a trading volume of 6,134,508 shares, compared to its average volume of 8,250,459. The company has a 50-day moving average of $36.68 and a two-hundred day moving average of $33.10. The company has a market cap of $23.82 billion, a PE ratio of 12.56, a price-to-earnings-growth ratio of 1.46 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.

Pinterest (NYSE:PINS - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.33 EPS 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 analyst estimates of $973.42 million. Pinterest had a net margin of 49.31% and a return on equity of 8.44%. The company's revenue was up 16.9% on a year-over-year basis. During the same period last year, the company earned $0.29 EPS. Pinterest has set its Q3 2025 guidance at EPS. As a group, analysts forecast that Pinterest, Inc. will post 0.6 EPS for the current fiscal year.

Analyst Ratings Changes

PINS has been the subject of several recent analyst reports. Oppenheimer reiterated an "outperform" rating on shares of Pinterest in a research note on Friday, August 8th. Wells Fargo & Company set a $42.00 target price on Pinterest and gave the company an "overweight" rating in a research note on Tuesday, July 1st. Benchmark increased their target price on Pinterest from $45.00 to $48.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. UBS Group increased their target price on Pinterest from $44.00 to $50.00 and gave the company a "buy" rating in a research note on Wednesday, July 16th. Finally, KeyCorp increased their target price on Pinterest from $40.00 to $45.00 and gave the company an "overweight" rating in a research note on Thursday, July 17th. Twenty-five research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $42.40.

Insider Buying and Selling

In other Pinterest news, Director Benjamin Silbermann sold 102,083 shares of the company's stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $34.82, for a total value of $3,554,530.06. Following the completion of the transaction, the director owned 8,414 shares of the company's stock, valued at $292,975.48. This represents a 92.39% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Over the last ninety days, insiders sold 1,088,005 shares of company stock valued at $39,037,739. Corporate insiders own 7.06% of the company's stock.

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.