Assenagon Asset Management S.A. Has $23.10 Million Holdings in Pinterest, Inc. $PINS

Key Points

• Assenagon Asset Management significantly increased its Pinterest stake by 184.7% in the second quarter, owning 1.10 million shares valued at approximately $23.1 million. Institutional investors collectively own 88.81% of Pinterest.
• Pinterest exceeded quarterly expectations: earnings per share came in at $0.43 versus the $0.36 consensus estimate, while revenue of $1.18 billion rose 18.2% year over year and topped forecasts.
• Analyst sentiment remains mixed despite the earnings beat. Pinterest has an average “Hold” rating and a $27.90 consensus price target, while concerns include choppy North American user trends, margin pressure from monetization efforts and recent insider selling.

Assenagon Asset Management S.A. lifted its position in Pinterest, Inc. (NYSE:PINS - Free Report) by 184.7% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,098,432 shares of the company's stock after acquiring an additional 712,569 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.20% of Pinterest worth $23,100,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Forsta AP Fonden grew its holdings in Pinterest by 61.2% during the fourth quarter. Forsta AP Fonden now owns 397,400 shares of the company's stock valued at $10,289,000 after purchasing an additional 150,900 shares during the last quarter. Amundi grew its stake in Pinterest by 38.3% in the 1st quarter. Amundi now owns 3,200,829 shares of the company's stock valued at $58,703,000 after buying an additional 885,927 shares during the last quarter. Jefferies Financial Group Inc. bought a new position in Pinterest in the 4th quarter worth $12,812,000. KLP Kapitalforvaltning AS raised its holdings in Pinterest by 103.4% in the 4th quarter. KLP Kapitalforvaltning AS now owns 838,500 shares of the company's stock worth $21,709,000 after acquiring an additional 426,300 shares during the period. Finally, Freemont Management S.A. acquired a new position in Pinterest during the 4th quarter worth $2,540,000. 88.81% of the stock is currently owned by hedge funds and other institutional investors.

Pinterest Price Performance

Shares of PINS stock opened at $23.73 on Monday. The stock has a 50-day moving average price of $22.12 and a 200 day moving average price of $20.44. The company has a quick ratio of 3.81, a current ratio of 3.81 and a debt-to-equity ratio of 0.34. The firm has a market cap of $13.29 billion, a price-to-earnings ratio of 69.80, a PEG ratio of 1.24 and a beta of 0.90. Pinterest, Inc. has a 12 month low of $13.84 and a 12 month high of $38.57.

Pinterest (NYSE:PINS - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.07. Pinterest had a return on equity of 7.49% and a net margin of 5.46%.The firm had revenue of $1.18 billion during the quarter, compared to analysts' expectations of $1.15 billion. During the same period in the previous year, the business posted $0.33 EPS. The company's quarterly revenue was up 18.2% compared to the same quarter last year. Research analysts expect that Pinterest, Inc. will post 0.63 EPS for the current year.

Insider Transactions at Pinterest

In related news, CFO Donnelly Julia Brau sold 59,096 shares of Pinterest stock in a transaction on Friday, August 7th. The stock was sold at an average price of $23.48, for a total transaction of $1,387,574.08. Following the completion of the sale, the chief financial officer directly owned 817,409 shares of the company's stock, valued at $19,192,763.32. The trade was a 6.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Benjamin Silbermann sold 46,875 shares of the company's stock in a transaction dated Tuesday, July 21st. The shares were sold at an average price of $22.54, for a total value of $1,056,562.50. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 429,816 shares of company stock worth $9,280,201 in the last three months. Insiders own 8.09% of the company's stock.

Pinterest News Summary

Here are the key news stories impacting Pinterest this week:

• Positive Sentiment: Q2 results beat expectations: Pinterest reported adjusted earnings of $0.43 per share versus the $0.36 consensus estimate, while revenue reached $1.18 billion compared with expectations of $1.15 billion. Revenue grew 18.2% year over year. Pinterest's Q2 Earnings Top Estimates on AI-Led Ad Growth
• Positive Sentiment: AI is supporting monetization: AI-powered advertising, stronger monetization and record user growth helped drive the quarterly outperformance and contributed to a more constructive outlook. Spotify and Pinterest Delivered the Growth. Investors Wanted More
• Positive Sentiment: Analyst sentiment was broadly supportive: UBS initiated or reiterated a Buy rating, Cantor Fitzgerald assigned an Overweight rating, and Evercore raised its price target to $29. RBC also increased its target to $25. Guggenheim, Morgan Stanley, Robert W. Baird and Rosenblatt analysts expressed expectations for further appreciation. Evercore Boosts Pinterest Price Target
• Neutral Sentiment: Valuation remains a debate: Some analysts view the post-earnings weakness as a buying opportunity, citing Pinterest’s high-intent users, high-teens revenue growth and disciplined expense management. Pinterest: Despite North American User Choppiness, Worth The Cheap Multiples
• Negative Sentiment: Key risks limited the reaction: Investors were disappointed by at least one user-related metric, particularly choppiness in North American users. Monetization initiatives are also creating margin pressure, while Wedbush maintained a Neutral or Hold rating. PINS Q2 Deep Dive

Analyst Ratings Changes

PINS has been the subject of several recent analyst reports. Mizuho increased their target price on Pinterest from $31.00 to $32.00 and gave the company an "outperform" rating in a research note on Wednesday, August 5th. Rothschild & Co Redburn set a $23.00 target price on Pinterest and gave the stock a "neutral" rating in a report on Monday, April 27th. Oppenheimer upped their price target on shares of Pinterest from $24.00 to $30.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 5th. Barclays increased their price objective on shares of Pinterest from $27.00 to $31.00 and gave the stock an "equal weight" rating in a report on Wednesday. Finally, Wedbush reissued a "neutral" rating and issued a $24.00 price target on shares of Pinterest in a report on Wednesday, August 5th. Seventeen research analysts have rated the stock with a Buy rating and nineteen have given a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $27.90.

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.

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