Assenagon Asset Management S.A. Grows Stock Holdings in Pinterest, Inc. (NYSE:PINS)

Assenagon Asset Management S.A. lifted its holdings in shares of Pinterest, Inc. (NYSE:PINS) 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.

Pinterest (NYSE:PINS) last released its quarterly earnings results on Tuesday, July 30th. The company reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.01. The company had revenue of $853.68 million for the quarter, compared to analysts’ expectations of $848.75 million. Pinterest had a return on equity of 6.94% and a net margin of 5.75%. The business’s revenue for the quarter was up 20.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.04) earnings per share. Equities research analysts expect that Pinterest, Inc. will post 0.39 earnings per share for the current fiscal year.

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.

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.