Titleist Asset Management LLC Reduces Stock Position in Pinterest, Inc. $PINS

Key Points

• Titleist Asset Management LLC has reduced its stake in Pinterest, Inc. by 34.2%, owning 14,018 shares after selling 7,300 shares in the first quarter.
• Other hedge funds, including Vanguard Group and Price T Rowe Associates, have increased their stakes in Pinterest during the same period, indicating growing institutional interest in the stock.
• Pinterest reported $0.33 earnings per share for the latest quarter, missing expectations, but its revenue of $998.23 million surpassed analysts' forecasts.

Titleist Asset Management LLC cut its stake in Pinterest, Inc. (NYSE:PINS - Free Report) by 34.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,018 shares of the company's stock after selling 7,300 shares during the period. Titleist Asset Management LLC's holdings in Pinterest were worth $435,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PINS. Bartlett & CO. Wealth Management LLC acquired a new position in Pinterest in the 1st quarter valued at $25,000. Garde Capital Inc. acquired a new position in Pinterest in the 1st quarter valued at $26,000. NBC Securities Inc. raised its holdings in Pinterest by 99,900.0% in the 1st quarter. NBC Securities Inc. now owns 1,000 shares of the company's stock valued at $31,000 after acquiring an additional 999 shares in the last quarter. American National Bank & Trust acquired a new position in Pinterest in the 1st quarter valued at $32,000. Finally, Golden State Wealth Management LLC raised its holdings in Pinterest by 665.4% in the 1st quarter. Golden State Wealth Management LLC now owns 1,217 shares of the company's stock valued at $38,000 after acquiring an additional 1,058 shares in the last quarter. 88.81% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently issued reports on PINS shares. Wolfe Research upgraded Pinterest from a "peer perform" rating to an "outperform" rating and set a $40.00 price target on the stock in a research note on Thursday, May 15th. KeyCorp lifted their price target on Pinterest from $40.00 to $45.00 and gave the company an "overweight" rating in a research note on Thursday, July 17th. Monness Crespi & Hardt lifted their price target on Pinterest from $40.00 to $46.00 and gave the company a "buy" rating in a research note on Friday, August 8th. Benchmark lifted their price target on Pinterest from $45.00 to $48.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Finally, UBS Group lifted their price target on Pinterest from $44.00 to $50.00 and gave the company a "buy" rating in a research note on Wednesday, July 16th. Twenty-five investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $42.40.

Insider Transactions at Pinterest

In other news, Director Benjamin Silbermann sold 102,083 shares of the stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $36.01, for a total value of $3,676,008.83. Following the completion of the sale, the director directly owned 8,414 shares of the company's stock, valued at $302,988.14. This represents a 92.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Donnelly Julia Brau sold 29,606 shares of the stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $34.25, for a total value of $1,014,005.50. Following the completion of the sale, the chief financial officer directly owned 362,890 shares of the company's stock, valued at approximately $12,428,982.50. This trade represents a 7.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 992,196 shares of company stock worth $35,442,008 over the last three months. 7.11% of the stock is owned by company insiders.

Pinterest Stock Up 1.0%

Shares of NYSE PINS traded up $0.38 during trading on Wednesday, reaching $37.11. The company had a trading volume of 4,578,998 shares, compared to its average volume of 10,782,629. The company's fifty day moving average price is $36.59 and its 200-day moving average price is $33.21. Pinterest, Inc. has a 12 month low of $23.68 and a 12 month high of $40.90. The stock has a market cap of $25.23 billion, a P/E ratio of 69.11, a PEG ratio of 1.47 and a beta of 0.77.

Pinterest (NYSE:PINS - Get Free Report) last released its quarterly 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 company had revenue of $998.23 million during the quarter, compared to the consensus estimate of $973.42 million. During the same quarter last year, the firm posted $0.29 EPS. The company's quarterly revenue was up 16.9% on a year-over-year basis. Pinterest has set its Q3 2025 guidance at EPS. As a group, equities analysts predict that Pinterest, Inc. will post 0.6 earnings per share for the current 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.