SteelPeak Wealth LLC Sells 653 Shares of Pinterest, Inc. $PINS

SteelPeak Wealth LLC reduced its position in shares of Pinterest, Inc. (NYSE:PINS) by 1.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,960 shares of the company’s stock after selling 653 shares during the quarter. SteelPeak Wealth LLC’s holdings in Pinterest were worth $1,648,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. OLD National Bancorp IN raised its position in Pinterest by 3.6% during the second quarter. OLD National Bancorp IN now owns 472,949 shares of the company’s stock worth $16,960,000 after acquiring an additional 16,582 shares in the last quarter. LGT Fund Management Co Ltd. bought a new stake in Pinterest during the second quarter worth $401,000. Hennessy Advisors Inc. bought a new stake in Pinterest during the second quarter worth $130,000. Ameritas Advisory Services LLC raised its position in shares of Pinterest by 5.5% in the second quarter. Ameritas Advisory Services LLC now owns 44,274 shares of the company’s stock valued at $1,588,000 after purchasing an additional 2,328 shares during the period. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its position in shares of Pinterest by 7.0% in the second quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 13,411 shares of the company’s stock valued at $481,000 after purchasing an additional 883 shares during the period. 88.81% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on PINS. Piper Sandler set a $40.00 price objective on shares of Pinterest in a research report on Friday, August 8th. Guggenheim reissued a “buy” rating on shares of Pinterest in a research report on Tuesday, September 2nd. Wall Street Zen lowered shares of Pinterest from a “buy” rating to a “hold” rating in a research report on Saturday. Morgan Stanley raised shares of Pinterest from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $37.00 to $45.00 in a research report on Monday, July 21st. Finally, Citigroup restated a “buy” rating and issued a $50.00 price target (up from $44.00) on shares of Pinterest in a research note on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, Pinterest has a consensus rating of “Moderate Buy” and a consensus price target of $42.63.

Pinterest Stock Down 2.0%

Shares of Pinterest stock opened at $31.39 on Wednesday. The company has a market capitalization of $21.34 billion, a price-to-earnings ratio of 11.25, a PEG ratio of 1.34 and a beta of 0.81. Pinterest, Inc. has a 12-month low of $23.68 and a 12-month high of $40.90. The firm’s 50-day moving average price is $35.67 and its two-hundred day moving average price is $33.16.

Pinterest (NYSE:PINS) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.01). The firm had revenue of $998.23 million for the quarter, compared to analyst estimates of $973.42 million. Pinterest had a return on equity of 8.44% and a net margin of 49.31%.The company’s quarterly revenue was up 16.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.29 earnings per share. Pinterest has set its Q3 2025 guidance at EPS. On average, sell-side analysts expect that Pinterest, Inc. will post 0.6 earnings per share for the current year.

Insider Activity

In other news, Director Benjamin Silbermann sold 102,083 shares of the stock in a transaction dated Wednesday, September 24th. The shares were sold at an average price of $34.86, for a total value of $3,558,613.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gokul Rajaram sold 1,150 shares of the stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $35.00, for a total transaction of $40,250.00. Following the completion of the transaction, the director directly owned 30,600 shares of the company’s stock, valued at $1,071,000. This trade represents a 3.62% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 865,552 shares of company stock valued at $31,242,397. Corporate insiders own 7.11% of the company’s stock.

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.