Pinterest, Inc. (NYSE:PINS) Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. decreased its position in shares of Pinterest, Inc. (NYSE:PINS - Free Report) by 57.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 972,372 shares of the company's stock after selling 1,294,576 shares during the quarter. Assenagon Asset Management S.A. owned 0.14% of Pinterest worth $30,144,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PINS. Price T Rowe Associates Inc. MD boosted its holdings in Pinterest by 104.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 25,432,141 shares of the company's stock worth $737,533,000 after purchasing an additional 12,986,310 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in Pinterest by 49.7% in the fourth quarter. Ameriprise Financial Inc. now owns 13,635,800 shares of the company's stock worth $395,441,000 after purchasing an additional 4,527,902 shares during the last quarter. FMR LLC boosted its holdings in Pinterest by 2.6% in the fourth quarter. FMR LLC now owns 12,599,356 shares of the company's stock worth $365,381,000 after purchasing an additional 316,633 shares during the last quarter. Norges Bank purchased a new stake in Pinterest in the fourth quarter worth approximately $358,205,000. Finally, Marshall Wace LLP boosted its holdings in Pinterest by 134.1% in the fourth quarter. Marshall Wace LLP now owns 10,701,783 shares of the company's stock worth $310,352,000 after purchasing an additional 6,129,985 shares during the last quarter. Institutional investors own 88.81% of the company's stock.

Pinterest Price Performance

PINS stock traded down $0.24 during mid-day trading on Friday, reaching $33.78. The company had a trading volume of 6,829,268 shares, compared to its average volume of 10,931,426. The firm has a 50 day moving average of $29.48 and a 200 day moving average of $31.49. Pinterest, Inc. has a 12 month low of $23.68 and a 12 month high of $45.19. The company has a market capitalization of $22.91 billion, a PE ratio of 12.56, a price-to-earnings-growth ratio of 1.95 and a beta of 0.91.

Pinterest (NYSE:PINS - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.02). Pinterest had a return on equity of 8.10% and a net margin of 51.07%. The business had revenue of $854.99 million during the quarter, compared to analysts' expectations of $848.49 million. During the same period in the previous year, the company posted $0.17 EPS. Pinterest's revenue for the quarter was up 15.5% on a year-over-year basis. Analysts anticipate that Pinterest, Inc. will post 0.6 EPS for the current year.

Insider Transactions at Pinterest

In other Pinterest news, Director Gokul Rajaram sold 1,150 shares of the company's stock in a transaction that occurred on Wednesday, April 23rd. The shares were sold at an average price of $27.00, for a total transaction of $31,050.00. Following the transaction, the director now owns 26,786 shares in the company, valued at approximately $723,222. This represents a 4.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Andrea Acosta sold 3,759 shares of the company's stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $31.86, for a total transaction of $119,761.74. Following the transaction, the chief accounting officer now owns 171,373 shares in the company, valued at $5,459,943.78. The trade was a 2.15% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,177,104 shares of company stock valued at $38,592,423. Company insiders own 7.06% of the company's stock.

Analyst Ratings Changes

PINS has been the topic of several recent research reports. Raymond James downgraded shares of Pinterest from an "overweight" rating to a "market perform" rating in a research report on Monday, April 7th. JPMorgan Chase & Co. upgraded shares of Pinterest from a "neutral" rating to an "overweight" rating and increased their price target for the stock from $35.00 to $40.00 in a research report on Tuesday, June 3rd. Monness Crespi & Hardt decreased their price target on shares of Pinterest from $50.00 to $40.00 and set a "buy" rating on the stock in a research report on Friday, May 9th. The Goldman Sachs Group decreased their price target on shares of Pinterest from $47.00 to $40.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Finally, Piper Sandler decreased their price target on shares of Pinterest from $41.00 to $34.00 and set a "neutral" rating on the stock in a research report on Thursday, April 10th. Six research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. Based on data from MarketBeat, Pinterest currently has an average rating of "Moderate Buy" and a consensus price target of $40.42.

Pinterest Profile

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.