Pinterest shares receive mixed analyst ratings as Boothe Investment Group adds new stake

Wall Street Zen downgraded Pinterest Inc. (NYSE:PINS) from a "buy" to a "hold" rating in a research note released on Saturday, joining a series of recent analyst opinions that have varied price targets and ratings for the stock. Other firms such as Stifel Nicolaus, Benchmark, Rothschild & Co Redburn, BMO Capital Markets and Guggenheim have recently issued buy or neutral ratings with price targets ranging from $23 to $34 per share.

In the first quarter, Boothe Investment Group Inc. purchased 646,453 shares of Pinterest, valued at about $11.86 million. The holding represents roughly 3.8 % of Boothe’s portfolio and 0.12 % of Pinterest’s outstanding shares, making Pinterest the fund’s seventh‑largest position. The filing notes that institutional investors collectively own about 88.8 % of Pinterest’s stock, with other large holders such as Norges Bank, State Street Corp, Victory Capital Management and Renaissance Technologies also adjusting their positions.

These developments highlight ongoing investor interest in Pinterest despite the recent downgrade, as analysts continue to adjust targets and ratings based on the company’s quarterly earnings beat and revenue growth.