Assenagon Asset Management S.A. Acquires 65,014 Shares of Pinterest, Inc. (NYSE:PINS)

Assenagon Asset Management S.A. boosted its stake in Pinterest, Inc. (NYSE:PINS - Free Report) by 24.3% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 332,295 shares of the company's stock after purchasing an additional 65,014 shares during the period. Assenagon Asset Management S.A.'s holdings in Pinterest were worth $10,756,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PINS. Vanguard Group Inc. increased its stake in Pinterest by 1.8% during the first quarter. Vanguard Group Inc. now owns 57,343,800 shares of the company's stock worth $1,988,110,000 after purchasing an additional 994,848 shares during the period. Baillie Gifford & Co. increased its stake in Pinterest by 9.5% during the 2nd quarter. Baillie Gifford & Co. now owns 10,116,139 shares of the company's stock worth $445,818,000 after buying an additional 880,398 shares during the period. Clearbridge Investments LLC lifted its holdings in Pinterest by 2.2% during the 1st quarter. Clearbridge Investments LLC now owns 8,179,741 shares of the company's stock worth $283,592,000 after buying an additional 176,540 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Pinterest by 6.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 5,960,861 shares of the company's stock valued at $262,695,000 after buying an additional 380,431 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of Pinterest by 45.7% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 5,735,384 shares of the company's stock worth $198,846,000 after acquiring an additional 1,798,494 shares in the last quarter. Hedge funds and other institutional investors own 88.81% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on PINS shares. Deutsche Bank Aktiengesellschaft initiated coverage on Pinterest in a report on Monday, September 23rd. They set a "buy" rating and a $43.00 price target on the stock. Raymond James cut their target price on shares of Pinterest from $45.00 to $40.00 and set an "outperform" rating on the stock in a research note on Wednesday, July 31st. JPMorgan Chase & Co. reduced their target price on shares of Pinterest from $44.00 to $38.00 and set a "neutral" rating on the stock in a report on Wednesday, July 31st. Susquehanna lowered their price target on shares of Pinterest from $50.00 to $45.00 and set a "positive" rating for the company in a report on Wednesday, July 31st. Finally, Benchmark restated a "hold" rating on shares of Pinterest in a report on Wednesday, July 31st. Eight research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $43.32.

Insider Transactions at Pinterest

In related news, Director Gokul Rajaram sold 1,150 shares of the stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $33.52, for a total value of $38,548.00. Following the completion of the transaction, the director now owns 33,686 shares of the company's stock, valued at $1,129,154.72. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CFO Donnelly Julia Brau sold 30,280 shares of Pinterest stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $32.72, for a total transaction of $990,761.60. Following the completion of the transaction, the chief financial officer now directly owns 297,351 shares of the company's stock, valued at $9,729,324.72. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Gokul Rajaram sold 1,150 shares of the business's stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $33.52, for a total transaction of $38,548.00. Following the completion of the transaction, the director now owns 33,686 shares in the company, valued at approximately $1,129,154.72. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 7.11% of the stock is owned by insiders.

Pinterest Price Performance

NYSE:PINS traded down $0.08 during midday trading on Monday, reaching $32.27. The stock had a trading volume of 5,248,405 shares, compared to its average volume of 9,305,529. Pinterest, Inc. has a 1-year low of $24.47 and a 1-year high of $45.19. The firm's fifty day simple moving average is $31.72 and its 200-day simple moving average is $36.41. The stock has a market capitalization of $22.05 billion, a P/E ratio of 154.14, a PEG ratio of 2.50 and a beta of 1.01.

Pinterest (NYSE:PINS - Get Free Report) last posted its quarterly earnings data on Tuesday, July 30th. The company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.01. The company had revenue of $853.68 million during 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%. Pinterest's revenue for the quarter was up 20.6% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.04) earnings per share. On average, equities research analysts anticipate that Pinterest, Inc. will post 0.39 earnings per share for the current fiscal year.

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.