Raymond James Financial Inc. Buys 1,059,087 Shares of Pinterest, Inc. $PINS

Key Points

• Raymond James Financial Inc. increased its stake in Pinterest by 50.1% in Q1, owning approximately 3.17 million shares valued at around $98.3 million.
• Analysts have set a consensus target price for Pinterest at $42.40, with 25 analysts rating the stock as a buy.
• Pinterest's quarterly earnings report showed a 16.9% year-over-year revenue growth, totaling $998.23 million, though it missed EPS estimates by $0.01.

Raymond James Financial Inc. increased its holdings in Pinterest, Inc. (NYSE:PINS - Free Report) by 50.1% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,171,536 shares of the company's stock after buying an additional 1,059,087 shares during the period. Raymond James Financial Inc. owned about 0.47% of Pinterest worth $98,318,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Riverpark Capital Management LLC boosted its position in shares of Pinterest by 1.2% in the 1st quarter. Riverpark Capital Management LLC now owns 31,825 shares of the company's stock worth $987,000 after buying an additional 377 shares in the last quarter. Redwood Investment Management LLC lifted its holdings in Pinterest by 3.2% in the 4th quarter. Redwood Investment Management LLC now owns 15,951 shares of the company's stock valued at $463,000 after purchasing an additional 495 shares in the last quarter. NorthRock Partners LLC lifted its holdings in Pinterest by 4.7% in the 1st quarter. NorthRock Partners LLC now owns 11,246 shares of the company's stock valued at $349,000 after purchasing an additional 502 shares in the last quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych lifted its holdings in Pinterest by 22.2% in the 1st quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych now owns 3,300 shares of the company's stock valued at $102,000 after purchasing an additional 600 shares in the last quarter. Finally, EP Wealth Advisors LLC lifted its holdings in Pinterest by 9.3% in the 4th quarter. EP Wealth Advisors LLC now owns 7,706 shares of the company's stock valued at $223,000 after purchasing an additional 656 shares in the last quarter. 88.81% of the stock is currently owned by hedge funds and other institutional investors.

Pinterest Price Performance

PINS traded up $0.6950 on Friday, hitting $35.5650. The company had a trading volume of 7,216,559 shares, compared to its average volume of 11,739,806. The company's fifty day moving average price is $36.32 and its 200 day moving average price is $33.29. 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 $24.18 billion, a price-to-earnings ratio of 12.75, a price-to-earnings-growth ratio of 1.40 and a beta of 0.78.

Pinterest (NYSE:PINS - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported $0.33 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 firm had revenue of $998.23 million during the quarter, compared to analyst estimates of $973.42 million. During the same quarter in the previous year, the company posted $0.29 earnings per share. The business's revenue for the quarter was up 16.9% compared to the same quarter last year. Pinterest has set its Q3 2025 guidance at EPS. On average, sell-side analysts forecast that Pinterest, Inc. will post 0.6 EPS for the current year.

Insider Transactions at Pinterest

In related news, Director Benjamin Silbermann sold 102,083 shares of the firm's stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $33.21, for a total value of $3,390,176.43. Following the transaction, the director owned 8,414 shares in the company, valued at $279,428.94. This trade represents a 92.39% decrease in their ownership of the stock. The transaction was disclosed in a legal 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 in the last quarter. 7.06% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on PINS shares. Wall Street Zen lowered shares of Pinterest from a "buy" rating to a "hold" rating in a report on Sunday, August 17th. Susquehanna reissued a "positive" rating and set a $42.00 target price on shares of Pinterest in a research report on Friday, August 8th. JPMorgan Chase & Co. raised shares of Pinterest from a "neutral" rating to an "overweight" rating and increased their target price for the stock from $35.00 to $40.00 in a research report on Tuesday, June 3rd. Piper Sandler set a $40.00 price objective on shares of Pinterest in a research report on Friday, August 8th. Finally, KeyCorp raised their price target on shares of Pinterest from $40.00 to $45.00 and gave the stock an "overweight" rating in a research report on Thursday, July 17th. Twenty-five analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average 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.