Assenagon Asset Management S.A. Raises Position in Pinterest, Inc. (NYSE:PINS)

Assenagon Asset Management S.A. increased its position in shares of Pinterest, Inc. (NYSE:PINS - Free Report) by 582.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,266,948 shares of the company's stock after buying an additional 1,934,653 shares during the quarter. Assenagon Asset Management S.A. owned about 0.34% of Pinterest worth $65,741,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in PINS. Brown Shipley& Co Ltd purchased a new position in shares of Pinterest during the second quarter worth $25,000. GAMMA Investing LLC boosted its holdings in Pinterest by 63.5% during the 4th quarter. GAMMA Investing LLC now owns 1,069 shares of the company's stock valued at $31,000 after acquiring an additional 415 shares during the period. V Square Quantitative Management LLC acquired a new position in Pinterest in the 3rd quarter valued at about $37,000. Crewe Advisors LLC increased its stake in Pinterest by 91.1% during the third quarter. Crewe Advisors LLC now owns 1,154 shares of the company's stock worth $37,000 after purchasing an additional 550 shares during the period. Finally, True Wealth Design LLC lifted its position in shares of Pinterest by 8,261.1% during the third quarter. True Wealth Design LLC now owns 1,505 shares of the company's stock worth $49,000 after purchasing an additional 1,487 shares in the last quarter. 88.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have commented on PINS shares. Wedbush upgraded shares of Pinterest from a "hold" rating to a "strong-buy" rating in a report on Monday, November 11th. Deutsche Bank Aktiengesellschaft assumed coverage on Pinterest in a report on Monday, September 23rd. They issued a "buy" rating and a $43.00 target price on the stock. Jefferies Financial Group restated a "hold" rating and issued a $32.00 price target (down from $40.00) on shares of Pinterest in a research note on Monday. Oppenheimer dropped their price objective on Pinterest from $45.00 to $40.00 and set an "outperform" rating on the stock in a report on Friday, November 8th. Finally, Royal Bank of Canada restated an "outperform" rating and set a $48.00 target price on shares of Pinterest in a research note on Tuesday, December 10th. Nine research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $40.86.

Insider Activity at Pinterest

In other news, CAO Andrea Acosta sold 3,845 shares of the business's stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $30.88, for a total value of $118,733.60. Following the completion of the transaction, the chief accounting officer now directly owns 158,468 shares of the company's stock, valued at $4,893,491.84. The trade was a 2.37 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Gokul Rajaram sold 1,150 shares of the stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $29.73, for a total value of $34,189.50. Following the sale, the director now directly owns 32,536 shares in the company, valued at approximately $967,295.28. The trade was a 3.41 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,007 shares of company stock valued at $554,137. Insiders own 7.11% of the company's stock.

Pinterest Price Performance

Pinterest stock traded down $0.25 during trading hours on Thursday, hitting $30.39. The stock had a trading volume of 6,911,772 shares, compared to its average volume of 9,640,376. Pinterest, Inc. has a 1-year low of $27.00 and a 1-year high of $45.19. The stock has a market capitalization of $20.54 billion, a price-to-earnings ratio of 101.29, a PEG ratio of 1.52 and a beta of 1.04. The stock's fifty day moving average is $30.46 and its two-hundred day moving average is $32.58.

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.