Shellback Capital LP Boosts Holdings in Pinterest, Inc. $PINS

Key Points

• Shellback Capital LP increased its ownership in Pinterest, boosting its shares by 150% in the first quarter, bringing their total holdings to 125,000 shares valued at approximately $3.88 million.
• Despite a miss on EPS estimates for the latest quarter, Pinterest reported a 16.9% increase in revenue year-over-year, totaling $998.23 million.
• In recent analyst activity, several firms have raised their price targets for Pinterest, with a consensus rating of "Moderate Buy" and an average price target of $42.40.

Shellback Capital LP raised its holdings in Pinterest, Inc. (NYSE:PINS - Free Report) by 150.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 125,000 shares of the company's stock after purchasing an additional 75,000 shares during the quarter. Shellback Capital LP's holdings in Pinterest were worth $3,875,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. PharVision Advisers LLC boosted its holdings in Pinterest by 8.5% in the first quarter. PharVision Advisers LLC now owns 11,833 shares of the company's stock valued at $367,000 after purchasing an additional 931 shares during the last quarter. Integrated Wealth Concepts LLC raised its position in shares of Pinterest by 5.9% in the first quarter. Integrated Wealth Concepts LLC now owns 10,943 shares of the company's stock worth $339,000 after acquiring an additional 607 shares during the period. Eminence Capital LP raised its position in shares of Pinterest by 2.3% in the first quarter. Eminence Capital LP now owns 5,783,514 shares of the company's stock worth $179,289,000 after acquiring an additional 132,463 shares during the period. Alliancebernstein L.P. raised its position in shares of Pinterest by 61.6% in the first quarter. Alliancebernstein L.P. now owns 938,008 shares of the company's stock worth $29,078,000 after acquiring an additional 357,581 shares during the period. Finally, Banque Transatlantique SA acquired a new position in shares of Pinterest in the first quarter worth about $455,000. 88.81% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Pinterest

In other Pinterest news, CAO Andrea Acosta sold 3,759 shares of the stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $34.96, for a total value of $131,414.64. Following the completion of the sale, the chief accounting officer owned 157,402 shares in the company, valued at approximately $5,502,773.92. This represents a 2.33% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Matthew Madrigal sold 20,000 shares of the stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $38.58, for a total transaction of $771,600.00. Following the completion of the sale, the chief technology officer owned 428,823 shares of the company's stock, valued at approximately $16,543,991.34. The trade was a 4.46% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,088,005 shares of company stock worth $39,037,739 in the last quarter. Insiders own 7.06% of the company's stock.

Pinterest Trading Up 0.2%

PINS stock traded up $0.05 during mid-day trading on Friday, reaching $35.01. The company's stock had a trading volume of 2,285,858 shares, compared to its average volume of 11,543,422. The stock has a market cap of $23.81 billion, a PE ratio of 12.55, a P/E/G ratio of 1.48 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. The company's 50 day moving average is $36.70 and its two-hundred day moving average is $33.13.

Pinterest (NYSE:PINS - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported $0.33 EPS for the quarter, missing analysts' consensus estimates of $0.34 by ($0.01). The business 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 firm's revenue was up 16.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.29 EPS. Pinterest has set its Q3 2025 guidance at EPS. On average, analysts forecast that Pinterest, Inc. will post 0.6 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have weighed in on PINS shares. Wedbush upped their price objective on shares of Pinterest from $42.00 to $44.00 and gave the stock an "outperform" rating in a research report on Friday, August 8th. Barclays upped their price objective on shares of Pinterest from $38.00 to $40.00 and gave the stock an "equal weight" rating in a research report on Friday, August 8th. Wolfe Research upgraded shares of Pinterest from a "peer perform" rating to an "outperform" rating and set a $40.00 price target for the company in a research report on Thursday, May 15th. Monness Crespi & Hardt upped their price target on shares of Pinterest from $40.00 to $46.00 and gave the stock a "buy" rating in a research report on Friday, August 8th. Finally, Benchmark upped their price target on shares of Pinterest from $45.00 to $48.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Twenty-five analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, Pinterest has a consensus rating of "Moderate Buy" and a consensus 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.