Pinterest, Inc. $PINS Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. reduced its stake in Pinterest, Inc. (NYSE:PINS) by 23.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 385,863 shares of the company’s stock after selling 117,767 shares during the period. Assenagon Asset Management S.A.’s holdings in Pinterest were worth $7,077,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Elevated Capital Advisors LLC acquired a new stake in Pinterest during the 4th quarter worth $26,000. Caitong International Asset Management Co. Ltd grew its holdings in shares of Pinterest by 2,017.3% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,101 shares of the company’s stock worth $29,000 after purchasing an additional 1,049 shares during the last quarter. Addison Advisors LLC grew its holdings in shares of Pinterest by 727.3% during the fourth quarter. Addison Advisors LLC now owns 1,365 shares of the company’s stock worth $35,000 after purchasing an additional 1,200 shares during the last quarter. Garner Asset Management Corp acquired a new stake in shares of Pinterest during the fourth quarter worth about $36,000. Finally, MidFirst Bank acquired a new stake in shares of Pinterest during the fourth quarter worth about $44,000. Institutional investors and hedge funds own 88.81% of the company’s stock.

Insider Buying and Selling at Pinterest

In other Pinterest news, Director Gokul Rajaram sold 2,100 shares of the stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $20.00, for a total transaction of $42,000.00. Following the completion of the sale, the director directly owned 27,450 shares of the company’s stock, valued at approximately $549,000. This trade represents a 7.11% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Benjamin Silbermann sold 46,875 shares of Pinterest stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of $19.99, for a total value of $937,031.25. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 232,195 shares of company stock valued at $4,811,815 in the last ninety days. Insiders own 8.09% of the company’s stock.

Pinterest Price Performance

Shares of NYSE:PINS opened at $20.79 on Monday. The company has a 50-day simple moving average of $20.37 and a 200-day simple moving average of $21.17. Pinterest, Inc. has a one year low of $13.84 and a one year high of $39.93. The company has a debt-to-equity ratio of 0.34, a quick ratio of 4.23 and a current ratio of 4.23. The stock has a market capitalization of $11.65 billion, a price-to-earnings ratio of 43.31, a PEG ratio of 1.19 and a beta of 0.92.

Pinterest (NYSE:PINS) last announced its earnings results on Monday, May 4th. The company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.05. Pinterest had a net margin of 7.64% and a return on equity of 8.26%. The business had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $965.84 million. During the same quarter in the prior year, the firm earned $0.23 earnings per share. The business’s quarterly revenue was up 17.8% compared to the same quarter last year. On average, analysts predict that Pinterest, Inc. will post 0.65 EPS for the current year.

Analysts Set New Price Targets

PINS has been the subject of several research reports. Rothschild & Co Redburn set a $23.00 target price on Pinterest and gave the company a “neutral” rating in a report on Monday, April 27th. Stifel Nicolaus raised their price target on Pinterest from $25.00 to $27.00 and gave the stock a “buy” rating in a research note on Tuesday, May 5th. Barclays lifted their price target on Pinterest from $25.00 to $27.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 5th. Piper Sandler reiterated a “neutral” rating and issued a $26.00 price objective (up from $21.00) on shares of Pinterest in a research note on Tuesday, May 5th. Finally, Benchmark decreased their price objective on Pinterest from $34.00 to $33.00 and set a “buy” rating for the company in a report on Thursday, April 30th. Sixteen analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $27.40.

Pinterest Profile

Pinterest, Inc operates a visual discovery platform that helps users find inspiration and ideas for projects ranging from home design and fashion to cooking and travel. Users create and curate “Pins” — images or videos linked to content — organized on thematic boards. The service is available through its website and mobile applications and emphasizes personalized recommendations and visual search to surface relevant content based on user interests.

The company’s primary revenue model is advertising, offering promoted content formats that integrate into user feeds and search results.