Assenagon Asset Management S.A. Has $13.04 Million Holdings in Pinterest, Inc. $PINS

Key Points

• Assenagon Asset Management S.A. cut its position in Pinterest by 32.9%, selling 246,803 shares and finishing the quarter with 503,630 shares worth about $13.04 million.
• Analyst sentiment has turned cautious with multiple downgrades and lower price targets, leaving Pinterest with an average rating of Hold and an average price target of $25.61.
• Pinterest's latest quarter slightly missed estimates (EPS $0.67 vs $0.68; revenue $1.32B vs $1.33B) although revenue rose 14.3% year‑over‑year, and the stock trades near $17.77 with a market cap of $11.82B.

Assenagon Asset Management S.A. cut its position in shares of Pinterest, Inc. (NYSE:PINS - Free Report) by 32.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 503,630 shares of the company's stock after selling 246,803 shares during the quarter. Assenagon Asset Management S.A. owned 0.07% of Pinterest worth $13,039,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. N.E.W. Advisory Services LLC boosted its holdings in shares of Pinterest by 505.7% during the third quarter. N.E.W. Advisory Services LLC now owns 854 shares of the company's stock worth $27,000 after purchasing an additional 713 shares during the period. Atlantic Union Bankshares Corp grew its stake in Pinterest by 3,839.1% in the third quarter. Atlantic Union Bankshares Corp now owns 906 shares of the company's stock valued at $29,000 after purchasing an additional 883 shares in the last quarter. Newbridge Financial Services Group Inc. acquired a new position in Pinterest in the 2nd quarter worth about $45,000. Whittier Trust Co. of Nevada Inc. increased its position in Pinterest by 46.0% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,330 shares of the company's stock worth $42,000 after purchasing an additional 419 shares during the last quarter. Finally, Fifth Third Bancorp raised its stake in shares of Pinterest by 2,409.1% during the 3rd quarter. Fifth Third Bancorp now owns 1,380 shares of the company's stock worth $44,000 after purchasing an additional 1,325 shares in the last quarter. 88.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PINS has been the subject of several recent research reports. Loop Capital cut Pinterest from a "buy" rating to a "hold" rating and lowered their price target for the company from $45.00 to $18.00 in a research note on Friday, February 13th. Zacks Research upgraded shares of Pinterest from a "strong sell" rating to a "hold" rating in a research note on Friday, January 30th. Argus downgraded shares of Pinterest from a "buy" rating to a "hold" rating in a research report on Monday, March 2nd. Stifel Nicolaus dropped their price target on shares of Pinterest from $40.00 to $25.00 and set a "buy" rating on the stock in a research note on Friday, February 13th. Finally, HSBC downgraded shares of Pinterest from a "buy" rating to a "hold" rating and set a $24.90 price target on the stock. in a report on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and nineteen have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $25.61.

Pinterest Trading Down 1.0%

NYSE PINS opened at $17.77 on Friday. Pinterest, Inc. has a 1-year low of $13.84 and a 1-year high of $39.93. The company has a market capitalization of $11.82 billion, a price-to-earnings ratio of 29.14, a PEG ratio of 1.17 and a beta of 0.93. The stock's 50 day moving average is $19.65 and its two-hundred day moving average is $26.09.

Pinterest (NYSE:PINS - Get Free Report) last issued its earnings results on Thursday, February 12th. The company reported $0.67 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.68 by ($0.01). Pinterest had a return on equity of 7.95% and a net margin of 9.87%.The company had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.33 billion. During the same period in the previous year, the company posted $0.56 earnings per share. The company's quarterly revenue was up 14.3% on a year-over-year basis. On average, analysts predict that Pinterest, Inc. will post 0.6 earnings per share for the current year.

Insider Activity

In related news, insider Malik Ducard sold 2,293 shares of Pinterest stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $22.06, for a total transaction of $50,583.58. Following the completion of the transaction, the insider directly owned 695,187 shares of the company's stock, valued at $15,335,825.22. This trade represents a 0.33% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last ninety days, insiders have sold 5,636 shares of company stock worth $131,614. Company insiders own 7.06% of the company's stock.

Pinterest Company 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.

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