National Bank of Canada FI Reduces Holdings in Pinterest, Inc. $PINS

Key Points

• National Bank of Canada FI significantly reduced its stake in Pinterest, Inc. by 97.6%, selling 564,129 shares, leaving it with only 14,157 shares valued at approximately $439,000.
• Several institutional investors have adjusted their holdings in Pinterest, with Janney Montgomery Scott LLC increasing its position by 73.9%, bringing its total shares to 89,034 valued at about $2,760,000.
• Analysts have updated their ratings on Pinterest, with Wedbush raising its price target from $42.00 to $44.00 and giving it an "outperform" rating, as the stock currently has a consensus rating of "Moderate Buy."

National Bank of Canada FI decreased its position in shares of Pinterest, Inc. (NYSE:PINS - Free Report) by 97.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,157 shares of the company's stock after selling 564,129 shares during the quarter. National Bank of Canada FI's holdings in Pinterest were worth $439,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of PINS. Price T Rowe Associates Inc. MD increased its holdings in shares of Pinterest by 104.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 25,432,141 shares of the company's stock valued at $737,533,000 after acquiring an additional 12,986,310 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in shares of Pinterest by 49.7% during the fourth quarter. Ameriprise Financial Inc. now owns 13,635,800 shares of the company's stock valued at $395,441,000 after acquiring an additional 4,527,902 shares in the last quarter. Contour Asset Management LLC purchased a new position in shares of Pinterest during the fourth quarter valued at approximately $86,330,000. Shapiro Capital Management LLC purchased a new position in shares of Pinterest during the fourth quarter valued at approximately $84,190,000. Finally, Pacer Advisors Inc. boosted its position in shares of Pinterest by 4,673.9% during the first quarter. Pacer Advisors Inc. now owns 2,531,741 shares of the company's stock valued at $78,484,000 after buying an additional 2,478,708 shares during the last quarter. Institutional investors own 88.81% of the company's stock.

Insiders Place Their Bets

In other news, Director Benjamin Silbermann sold 102,083 shares of the company's stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $33.21, for a total transaction of $3,390,176.43. Following the transaction, the director owned 8,414 shares of the company's stock, valued at $279,428.94. This represents a 92.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 1,090,520 shares of company stock valued at $38,235,271 over the last 90 days. 7.06% of the stock is currently owned by insiders.

Pinterest Stock Down 1.5%

PINS stock traded down $0.5490 during midday trading on Thursday, hitting $34.9310. The company's stock had a trading volume of 5,760,716 shares, compared to its average volume of 11,802,298. The stock's 50-day moving average price is $36.29 and its 200 day moving average price is $33.28. Pinterest, Inc. has a 1 year low of $23.68 and a 1 year high of $40.90. The stock has a market cap of $23.75 billion, a price-to-earnings ratio of 12.52, a PEG ratio of 1.42 and a beta of 0.78.

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

Analyst Upgrades and Downgrades

PINS has been the topic of several analyst reports. BMO Capital Markets cut their target price on Pinterest from $46.00 to $40.00 and set an "outperform" rating on the stock in a research report on Friday, May 9th. Bank of America lifted their target price on Pinterest from $41.00 to $44.00 and gave the company a "buy" rating in a research report on Friday, August 8th. Guggenheim reaffirmed a "buy" rating on shares of Pinterest in a research report on Monday, July 28th. Stifel Nicolaus lifted their target price on Pinterest from $46.00 to $47.00 and gave the company a "buy" rating in a research report on Friday, August 8th. Finally, Oppenheimer reaffirmed an "outperform" rating on shares of Pinterest in a research report on Friday, August 8th. Twenty-five research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price 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.