Assenagon Asset Management S.A. lifted its holdings in shares of Pinterest, Inc. (NYSE:PINS – Free Report) by 24.3% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 332,295 shares of the company’s stock after purchasing an additional 65,014 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Pinterest were worth $10,756,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Brown Shipley& Co Ltd acquired a new stake in Pinterest in the 2nd quarter worth about $25,000. Wellington Shields Capital Management LLC acquired a new position in shares of Pinterest in the 2nd quarter valued at $26,000. Hexagon Capital Partners LLC grew its stake in shares of Pinterest by 157.7% during the 2nd quarter. Hexagon Capital Partners LLC now owns 750 shares of the company’s stock valued at $33,000 after buying an additional 459 shares during the period. GAMMA Investing LLC increased its holdings in shares of Pinterest by 113.4% during the 2nd quarter. GAMMA Investing LLC now owns 762 shares of the company’s stock worth $34,000 after buying an additional 405 shares during the last quarter. Finally, Rothschild Investment LLC purchased a new position in shares of Pinterest in the 2nd quarter worth $35,000. Hedge funds and other institutional investors own 88.81% of the company’s stock.
Pinterest Price Performance
Shares of NYSE PINS opened at $32.35 on Monday. Pinterest, Inc. has a 1-year low of $23.59 and a 1-year high of $45.19. The firm has a market capitalization of $22.10 billion, a PE ratio of 154.05, a P/E/G ratio of 2.46 and a beta of 1.01. The business’s fifty day moving average price is $31.72 and its two-hundred day moving average price is $36.40.
Insider Activity
In related news, CFO Donnelly Julia Brau sold 30,280 shares of the stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $32.72, for a total value of $990,761.60. Following the completion of the transaction, the chief financial officer now owns 297,351 shares in the company, valued at $9,729,324.72. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Director Gokul Rajaram sold 1,150 shares of the company’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $33.52, for a total value of $38,548.00. Following the completion of the sale, the director now owns 33,686 shares in the company, valued at $1,129,154.72. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Donnelly Julia Brau sold 30,280 shares of Pinterest stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $32.72, for a total value of $990,761.60. Following the transaction, the chief financial officer now directly owns 297,351 shares in the company, valued at approximately $9,729,324.72. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 7.11% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities research analysts have commented on the company. Piper Sandler restated an “overweight” rating and set a $45.00 price target on shares of Pinterest in a research note on Friday, September 13th. Morgan Stanley increased their price target on Pinterest from $35.00 to $38.00 and gave the company an “equal weight” rating in a report on Tuesday, July 23rd. Benchmark restated a “hold” rating on shares of Pinterest in a research note on Wednesday, July 31st. The Goldman Sachs Group increased their price objective on shares of Pinterest from $44.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, July 9th. Finally, UBS Group decreased their target price on shares of Pinterest from $57.00 to $52.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Eight equities research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company’s stock. Based on data from MarketBeat, Pinterest has a consensus rating of “Moderate Buy” and a consensus price target of $43.32.
View Our Latest Analysis on Pinterest
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.
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