TLDR
- Elliott Investment Management is investing $1 billion in Pinterest (PINS).
- Pinterest will use the proceeds to fund a $1 billion accelerated share repurchase (ASR).
- The board has authorized a new $3.5 billion share repurchase program.
- Pinterest expects roughly $2 billion in total share repurchases in the first half of 2026.
- Elliott has been a Pinterest investor since 2022 and has a board seat.
Pinterest Inc. posted record revenue in 2025, with users hitting all-time highs for ten consecutive quarters. On Tuesday, it got a high-profile vote of confidence to go with it.
Activist investor Elliott Investment Management is investing $1 billion in Pinterest to help fund the social media company’s years-long effort to buy back shares. https://t.co/e53hWQx8jW
— Bloomberg (@business) March 3, 2026
Elliott Investment Management, the activist hedge fund, is putting $1 billion into Pinterest. The company confirmed the deal on March 3, 2026.
Pinterest plans to put that $1 billion straight to work — funding an accelerated share repurchase agreement of the same size.
The buyback is part of a brand new $3.5 billion share repurchase program, authorized by Pinterest’s board of directors and effective immediately.
On top of the ASR, Pinterest intends to repurchase up to an additional $500 million in stock from its own cash, through a Rule 10b5-1 trading plan, subject to market conditions.
Pinterest has already bought back $473 million in stock so far this year, under a prior repurchase program approved in November 2024.
When you add it all up — the $1 billion ASR, the intended $500 million in open-market repurchases, and the $473 million already completed — Pinterest is targeting roughly $2 billion in total buybacks in the first half of 2026.
Elliott Deepens Its Bet
Elliott isn’t new here. The firm first invested in Pinterest back in 2022 and has held a board seat since.
Marc Steinberg, a partner at Elliott and current Pinterest board member, said the firm has “strong conviction in the Company’s trajectory” and described the move as a meaningful increase in their position.
CEO Bill Ready framed the buyback as a direct signal about valuation. He said the current stock price “undervalues the strength of our business.”
Pinterest reported more than 80 billion monthly searches on its platform, with AI-powered visual search cited as a key driver of growth.
What the Numbers Look Like
PINS stock was up 2.04% on the day of the announcement.
The $3.5 billion repurchase authorization replaces the prior program and gives the company significant flexibility to continue buying back stock through the rest of the year.
The accelerated share repurchase will be executed immediately using Elliott’s $1 billion investment as the funding source.
Pinterest said the 10b5-1 open-market repurchase plan is subject to terms, market conditions, and management discretion.
The company has not disclosed the exact price or timing structure of the ASR agreement.
Elliott’s Marc Steinberg said he looks forward to continuing to work with Ready and the board to drive Pinterest’s performance.
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