Invesco Ltd. Cuts Stake in Pinterest, Inc. $PINS

Key Points

• Invesco Ltd. has significantly reduced its stake in Pinterest, Inc. by 44.5% in the first quarter, selling a total of 775,874 shares and now holding around 0.14% of the company's stock valued at approximately $30 million.
• Insider trading has seen the CFO and director of Pinterest selling substantial amounts of stock recently, with insiders having sold a total of 991,046 shares worth nearly $35 million in the past ninety days.
• Equity analysts have generally increased their price targets for Pinterest, with Stifel Nicolaus upgrading their target from $46 to $47, indicating a positive outlook for the company's future performance.

Invesco Ltd. decreased its holdings in shares of Pinterest, Inc. (NYSE:PINS - Free Report) by 44.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 968,180 shares of the company's stock after selling 775,874 shares during the quarter. Invesco Ltd. owned 0.14% of Pinterest worth $30,014,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Pinterest by 2.2% in the first quarter. Vanguard Group Inc. now owns 58,008,711 shares of the company's stock worth $1,798,270,000 after buying an additional 1,263,863 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Pinterest by 104.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 25,432,141 shares of the company's stock worth $737,533,000 after buying an additional 12,986,310 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in Pinterest by 49.7% in the fourth quarter. Ameriprise Financial Inc. now owns 13,635,800 shares of the company's stock worth $395,441,000 after buying an additional 4,527,902 shares in the last quarter. Ninety One UK Ltd boosted its stake in Pinterest by 10.2% in the first quarter. Ninety One UK Ltd now owns 6,027,355 shares of the company's stock worth $186,848,000 after buying an additional 555,742 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. boosted its stake in Pinterest by 3.7% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,793,534 shares of the company's stock worth $179,600,000 after buying an additional 205,879 shares in the last quarter. Hedge funds and other institutional investors own 88.81% of the company's stock.

Insider Buying and Selling

In other news, insider Wanjiku Juanita Walcott sold 11,510 shares of the stock in a transaction on Friday, June 27th. The stock was sold at an average price of $35.68, for a total value of $410,676.80. Following the sale, the insider directly owned 390,230 shares of the company's stock, valued at approximately $13,923,406.40. This represents a 2.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Gokul Rajaram sold 1,150 shares of the stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $35.00, for a total value of $40,250.00. Following the completion of the sale, the director directly owned 30,600 shares in the company, valued at approximately $1,071,000. This represents a 3.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 1,090,520 shares of company stock valued at $38,235,271. Insiders own 7.06% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Monness Crespi & Hardt increased their price objective on Pinterest from $40.00 to $46.00 and gave the company a "buy" rating in a research note on Friday, August 8th. Wells Fargo & Company set a $42.00 price objective on Pinterest and gave the company an "overweight" rating in a research note on Tuesday, July 1st. Sanford C. Bernstein increased their price objective on Pinterest from $40.00 to $45.00 and gave the company an "outperform" rating in a research note on Tuesday, July 22nd. Susquehanna restated a "positive" rating and set a $42.00 target price on shares of Pinterest in a report on Friday, August 8th. Finally, Morgan Stanley upgraded Pinterest from an "equal weight" rating to an "overweight" rating and upped their target price for the company from $37.00 to $45.00 in a report on Monday, July 21st. Twenty-five research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $42.40.

Pinterest Trading Up 2.0%

PINS traded up $0.6950 during trading on Friday, reaching $35.5650. The stock had a trading volume of 7,216,559 shares, compared to its average volume of 11,739,806. The stock's 50 day moving average is $36.32 and its two-hundred day moving average is $33.29. The company has a market capitalization of $24.18 billion, a price-to-earnings ratio of 12.75, a P/E/G ratio of 1.40 and a beta of 0.78. 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 posted its quarterly earnings data 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 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%.Pinterest's revenue for the quarter was up 16.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.29 EPS. Pinterest has set its Q3 2025 guidance at EPS. On average, equities research analysts predict that Pinterest, Inc. will post 0.6 earnings per share for the current year.

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.