Pinterest, Inc. $PINS Holdings Lifted by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. increased its holdings in Pinterest, Inc. (NYSE:PINS) by 322.3% in the 3rd quarter, Holdings Channel reports. The fund owned 750,433 shares of the company’s stock after purchasing an additional 572,734 shares during the period. Assenagon Asset Management S.A.’s holdings in Pinterest were worth $24,141,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of PINS. Snowden Capital Advisors LLC increased its holdings in shares of Pinterest by 4.4% in the 2nd quarter. Snowden Capital Advisors LLC now owns 7,046 shares of the company’s stock valued at $253,000 after purchasing an additional 296 shares during the period. Penserra Capital Management LLC boosted its holdings in shares of Pinterest by 10.1% during the second quarter. Penserra Capital Management LLC now owns 3,259 shares of the company’s stock worth $115,000 after purchasing an additional 300 shares during the period. EP Wealth Advisors LLC grew its position in Pinterest by 3.9% during the second quarter. EP Wealth Advisors LLC now owns 9,483 shares of the company’s stock valued at $340,000 after purchasing an additional 358 shares in the last quarter. Baltimore Washington Financial Advisors Inc. increased its stake in Pinterest by 3.6% in the 2nd quarter. Baltimore Washington Financial Advisors Inc. now owns 10,302 shares of the company’s stock valued at $369,000 after buying an additional 359 shares during the period. Finally, Dynamic Wealth Strategies LLC increased its stake in Pinterest by 5.8% in the 2nd quarter. Dynamic Wealth Strategies LLC now owns 6,596 shares of the company’s stock valued at $237,000 after buying an additional 361 shares during the period. 88.81% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PINS has been the topic of several research analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of Pinterest in a report on Monday. Wedbush downgraded Pinterest from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $34.00 to $30.00 in a research note on Monday, December 8th. Barclays dropped their target price on Pinterest from $40.00 to $36.00 and set an “equal weight” rating on the stock in a research report on Wednesday, November 5th. Morgan Stanley reduced their price target on Pinterest from $41.00 to $32.00 and set an “overweight” rating for the company in a report on Wednesday, November 26th. Finally, Royal Bank Of Canada lowered their price target on Pinterest from $45.00 to $38.00 and set an “outperform” rating for the company in a research note on Wednesday, November 5th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $38.97.

Pinterest Price Performance

Pinterest stock opened at $26.29 on Friday. Pinterest, Inc. has a fifty-two week low of $23.68 and a fifty-two week high of $40.90. The firm has a fifty day moving average price of $28.74 and a two-hundred day moving average price of $33.18. The firm has a market cap of $17.76 billion, a price-to-earnings ratio of 9.13, a P/E/G ratio of 1.64 and a beta of 0.89.

Pinterest (NYSE:PINS) last issued its quarterly earnings results on Tuesday, September 19th. The company reported $0.11 earnings per share (EPS) for the quarter. Pinterest had a return on equity of 8.20% and a net margin of 48.99%.The company had revenue of $665.93 million for the quarter. As a group, sell-side analysts expect that Pinterest, Inc. will post 0.6 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Donnelly Julia Brau sold 22,821 shares of Pinterest stock in a transaction dated Wednesday, September 24th. The stock was sold at an average price of $34.85, for a total transaction of $795,311.85. Following the sale, the chief financial officer directly owned 312,422 shares of the company’s stock, valued at $10,887,906.70. This trade represents a 6.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Benjamin Silbermann sold 102,083 shares of the business’s 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. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 198,959 shares of company stock valued at $6,345,304. 7.06% of the stock is owned by company insiders.

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.