KLP Kapitalforvaltning AS Acquires 30,500 Shares of Pinterest, Inc. $PINS

Key Points

• KLP Kapitalforvaltning AS increased its stake in Pinterest, Inc. by acquiring an additional 30,500 shares, raising their total holdings by 8% to 412,200 shares, valued at approximately $14.78 million.
• Pinterest reported quarterly earnings of $0.33 per share, slightly missing analysts' expectations, but saw a 16.9% increase in revenue compared to the previous year, totaling $998.23 million.
• Several analysts have raised their price targets for Pinterest stock, with Barclays setting a new target of $40 and Bank of America citing a target of $44, indicating positive outlooks from the market.

KLP Kapitalforvaltning AS raised its holdings in shares of Pinterest, Inc. (NYSE:PINS - Free Report) by 8.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 412,200 shares of the company's stock after acquiring an additional 30,500 shares during the quarter. KLP Kapitalforvaltning AS owned about 0.06% of Pinterest worth $14,781,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of PINS. Revolve Wealth Partners LLC bought a new stake in Pinterest during the 4th quarter valued at $252,000. GAMMA Investing LLC increased its holdings in shares of Pinterest by 6,326.2% in the first quarter. GAMMA Investing LLC now owns 68,696 shares of the company's stock worth $2,216,000 after purchasing an additional 67,627 shares during the period. NBC Securities Inc. increased its holdings in shares of Pinterest by 99,900.0% in the first 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 period. Farther Finance Advisors LLC increased its holdings in shares of Pinterest by 642.8% in the first quarter. Farther Finance Advisors LLC now owns 9,404 shares of the company's stock worth $292,000 after purchasing an additional 8,138 shares during the period. Finally, Pallas Capital Advisors LLC increased its holdings in shares of Pinterest by 100.4% in the first quarter. Pallas Capital Advisors LLC now owns 46,698 shares of the company's stock worth $1,448,000 after purchasing an additional 23,394 shares during the period. Institutional investors own 88.81% of the company's stock.

Insider Activity

In other news, Director Benjamin Silbermann sold 102,083 shares of the firm's stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $36.01, for a total transaction of $3,676,008.83. Following the transaction, the director directly owned 8,414 shares of the company's stock, valued at approximately $302,988.14. This trade represents a 92.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Matthew Madrigal sold 20,000 shares of the firm's stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $38.58, for a total value of $771,600.00. Following the transaction, the chief technology officer directly owned 428,823 shares in the company, valued at $16,543,991.34. This trade represents a 4.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 865,552 shares of company stock valued at $31,242,397. 7.06% of the stock is currently owned by insiders.

Analysts Set New Price Targets

PINS has been the topic of several research analyst reports. Barclays upped their price target on shares of Pinterest from $38.00 to $40.00 and gave the stock an "equal weight" rating in a report on Friday, August 8th. KeyCorp upped their price target on shares of Pinterest from $40.00 to $45.00 and gave the stock an "overweight" rating in a report on Thursday, July 17th. Bank of America upped their price target on shares of Pinterest from $41.00 to $44.00 and gave the stock a "buy" rating in a report on Friday, August 8th. Piper Sandler set a $40.00 price target on shares of Pinterest in a report on Friday, August 8th. Finally, 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. One analyst has rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat, Pinterest has an average rating of "Moderate Buy" and a consensus target price of $42.63.

Pinterest Stock Up 1.3%

Shares of PINS stock opened at $31.80 on Thursday. The business has a 50-day moving average price of $35.54 and a two-hundred day moving average price of $33.15. Pinterest, Inc. has a 12-month low of $23.68 and a 12-month high of $40.90. The firm has a market cap of $21.62 billion, a P/E ratio of 11.40, a price-to-earnings-growth ratio of 1.31 and a beta of 0.81.

Pinterest (NYSE:PINS - Get Free Report) last announced 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). Pinterest had a net margin of 49.31% and a return on equity of 8.44%. The company had revenue of $998.23 million for the quarter, compared to the consensus estimate of $973.42 million. During the same period last year, the business posted $0.29 earnings per share. The firm's quarterly revenue was up 16.9% compared to the same quarter last year. Pinterest has set its Q3 2025 guidance at EPS. As a group, research analysts expect that Pinterest, Inc. will post 0.6 EPS for the current fiscal year.

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.

Want to see what other hedge funds are holding PINS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pinterest, Inc. (NYSE:PINS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.