Pinterest, Inc. $PINS Shares Sold by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management S.A. reduced its stake in Pinterest by 81.7%, selling 794,673 shares in the second quarter, leaving it with 177,699 shares valued at approximately $6.37 million.
• Institutional investors currently own 88.81% of Pinterest's stock, with several firms, including Vanguard and Ameriprise, increasing their shares during the first quarter.
• Pinterest reported a quarterly earnings per share of $0.33, missing expectations, but experienced a 16.9% year-over-year revenue growth, totaling $998.23 million for the quarter.

Assenagon Asset Management S.A. lessened its stake in shares of Pinterest, Inc. (NYSE:PINS - Free Report) by 81.7% in the second quarter, according to its most recent filing with the SEC. The fund owned 177,699 shares of the company's stock after selling 794,673 shares during the period. Assenagon Asset Management S.A.'s holdings in Pinterest were worth $6,372,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in Pinterest by 2.2% during the 1st quarter. Vanguard Group Inc. now owns 58,008,711 shares of the company's stock valued at $1,798,270,000 after purchasing an additional 1,263,863 shares during the period. Price T Rowe Associates Inc. MD raised its stake in Pinterest by 25.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 31,892,284 shares of the company's stock valued at $988,662,000 after purchasing an additional 6,460,143 shares during the period. Ameriprise Financial Inc. raised its stake in Pinterest by 13.7% during the 1st quarter. Ameriprise Financial Inc. now owns 15,498,454 shares of the company's stock valued at $480,452,000 after purchasing an additional 1,862,654 shares during the period. Amundi raised its stake in Pinterest by 618.9% during the 1st quarter. Amundi now owns 14,254,741 shares of the company's stock valued at $441,897,000 after purchasing an additional 12,271,958 shares during the period. Finally, Swedbank AB raised its stake in Pinterest by 27.3% during the 2nd quarter. Swedbank AB now owns 7,430,885 shares of the company's stock valued at $266,472,000 after purchasing an additional 1,591,400 shares during the period. Institutional investors and hedge funds own 88.81% of the company's stock.

Pinterest Price Performance

PINS stock opened at $35.29 on Wednesday. Pinterest, Inc. has a 52-week low of $23.68 and a 52-week high of $40.90. The company has a 50-day moving average of $36.70 and a two-hundred day moving average of $33.12. The stock has a market capitalization of $23.99 billion, a price-to-earnings ratio of 12.65, a price-to-earnings-growth ratio of 1.48 and a beta of 0.77.

Pinterest (NYSE:PINS - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.01). Pinterest had a net margin of 49.31% and a return on equity of 8.44%. The company had revenue of $998.23 million during the quarter, compared to the consensus estimate of $973.42 million. During the same quarter in the previous year, the business posted $0.29 EPS. The firm's quarterly revenue was up 16.9% on a year-over-year basis. Pinterest has set its Q3 2025 guidance at EPS. Equities analysts expect that Pinterest, Inc. will post 0.6 EPS for the current fiscal year.

Insider Activity at Pinterest

In related news, CTO Matthew Madrigal sold 20,000 shares of the stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $38.58, for a total value of $771,600.00. Following the completion of the sale, the chief technology officer owned 428,823 shares in the company, valued at approximately $16,543,991.34. This trade represents a 4.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Andrea Acosta sold 3,759 shares of the stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $34.96, for a total transaction of $131,414.64. Following the completion of the sale, the chief accounting officer owned 157,402 shares of the company's stock, valued at approximately $5,502,773.92. The trade was a 2.33% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 956,316 shares of company stock worth $34,537,599 in the last three months. Corporate insiders own 7.11% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on PINS. Wall Street Zen downgraded shares of Pinterest from a "buy" rating to a "hold" rating in a research note on Sunday, September 7th. Stifel Nicolaus boosted their target price on shares of Pinterest from $46.00 to $47.00 and gave the company a "buy" rating in a research note on Friday, August 8th. Monness Crespi & Hardt boosted their target price on shares of Pinterest from $40.00 to $46.00 and gave the company a "buy" rating in a research note on Friday, August 8th. Piper Sandler set a $40.00 target price on shares of Pinterest in a research note on Friday, August 8th. Finally, TD Cowen upped their price target on shares of Pinterest from $40.00 to $43.00 and gave the stock a "buy" rating in a research note on Tuesday, July 15th. Twenty-four analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $42.38.

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.

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