Pinterest, Inc. $PINS Shares Sold by Sumitomo Mitsui DS Asset Management Company Ltd

Key Points

• Sumitomo Mitsui DS Asset Management reduced its stake in Pinterest by 21.5%, resulting in ownership of 112,095 shares valued at approximately $4,020,000.
• Insiders sold a total of 1,088,005 shares of Pinterest stock over the past 90 days, amounting to around $39.2 million, indicating notable insider activity.
• Pinterest received favorable analyst upgrades, with price targets increased by firms such as JPMorgan Chase & Co. and UBS Group, reflecting positive market sentiment.

Sumitomo Mitsui DS Asset Management Company Ltd lessened its holdings in shares of Pinterest, Inc. (NYSE:PINS - Free Report) by 21.5% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 112,095 shares of the company's stock after selling 30,627 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Pinterest were worth $4,020,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Riverpark Capital Management LLC raised its holdings in Pinterest by 1.2% in the first quarter. Riverpark Capital Management LLC now owns 31,825 shares of the company's stock valued at $987,000 after acquiring an additional 377 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in Pinterest by 18.6% in the first quarter. Smartleaf Asset Management LLC now owns 3,040 shares of the company's stock valued at $96,000 after acquiring an additional 476 shares in the last quarter. NorthRock Partners LLC raised its holdings in Pinterest by 4.7% in the first quarter. NorthRock Partners LLC now owns 11,246 shares of the company's stock valued at $349,000 after acquiring an additional 502 shares in the last quarter. Brooklyn Investment Group raised its holdings in Pinterest by 8.9% in the first quarter. Brooklyn Investment Group now owns 6,743 shares of the company's stock valued at $209,000 after acquiring an additional 552 shares in the last quarter. Finally, Generali Investments Towarzystwo Funduszy Inwestycyjnych raised its holdings in Pinterest by 22.2% during the first quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych now owns 3,300 shares of the company's stock worth $102,000 after purchasing an additional 600 shares in the last quarter. Institutional investors and hedge funds own 88.81% of the company's stock.

Insider Activity at Pinterest

In other news, Director Benjamin Silbermann sold 102,083 shares of the stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $35.99, for a total transaction of $3,673,967.17. Following the completion of the transaction, the director directly owned 8,414 shares in the company, valued at approximately $302,819.86. This represents a 92.39% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In the last three months, insiders sold 1,058,399 shares of company stock worth $38,211,567. Corporate insiders own 7.11% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on PINS. JPMorgan Chase & Co. raised shares of Pinterest from a "neutral" rating to an "overweight" rating and raised their price objective for the stock from $35.00 to $40.00 in a report on Tuesday, June 3rd. Stifel Nicolaus raised their price objective on shares of Pinterest from $46.00 to $47.00 and gave the stock a "buy" rating in a report on Friday, August 8th. Wedbush raised their price objective on shares of Pinterest from $42.00 to $44.00 and gave the stock an "outperform" rating in a report on Friday, August 8th. Barclays lifted their target price on shares of Pinterest from $38.00 to $40.00 and gave the company an "equal weight" rating in a report on Friday, August 8th. Finally, Oppenheimer reaffirmed an "outperform" rating on shares of Pinterest in a report on Friday, August 8th. Twenty-four research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $42.38.

Pinterest Stock Up 0.4%

Shares of Pinterest stock traded up $0.16 on Tuesday, hitting $35.47. 3,811,632 shares of the company's stock traded hands, compared to its average volume of 11,417,966. The stock has a market cap of $24.11 billion, a P/E ratio of 12.69, a PEG ratio of 1.50 and a beta of 0.77. The firm's 50-day moving average is $36.72 and its 200 day moving average is $33.10. Pinterest, Inc. has a 52-week low of $23.68 and a 52-week high of $40.90.

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

Pinterest Company 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.