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

Key Points

• Assenagon Asset Management reduced its Pinterest stake by 23.4% in Q1, selling 117,767 shares and leaving it with 385,863 shares worth about $7.1 million.
• Insider selling continued, with executive Wanjiku Juanita Walcott and director Gokul Rajaram both selling shares; insiders sold 232,195 shares total last quarter.
• Pinterest reported stronger-than-expected results for its latest quarter, posting $0.27 EPS on $1.01 billion in revenue, while analysts currently rate the stock a consensus Hold with an average price target of $27.40.

Assenagon Asset Management S.A. cut its holdings in shares of Pinterest, Inc. (NYSE:PINS - Free Report) by 23.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 385,863 shares of the company's stock after selling 117,767 shares during the quarter. Assenagon Asset Management S.A. owned about 0.06% of Pinterest worth $7,077,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PINS. Snowden Capital Advisors LLC boosted its position in shares of Pinterest by 4.4% during the 2nd quarter. Snowden Capital Advisors LLC now owns 7,046 shares of the company's stock worth $253,000 after purchasing an additional 296 shares during the period. EP Wealth Advisors LLC lifted its stake in Pinterest by 3.9% during the second quarter. EP Wealth Advisors LLC now owns 9,483 shares of the company's stock worth $340,000 after purchasing an additional 358 shares in the last quarter. Central Pacific Bank Trust Division lifted its stake in Pinterest by 0.5% during the fourth quarter. Central Pacific Bank Trust Division now owns 95,960 shares of the company's stock worth $2,484,000 after purchasing an additional 464 shares in the last quarter. Simon Quick Advisors LLC boosted its position in shares of Pinterest by 5.5% during the fourth quarter. Simon Quick Advisors LLC now owns 10,237 shares of the company's stock worth $265,000 after buying an additional 535 shares during the period. Finally, CIBC Asset Management Inc boosted its position in shares of Pinterest by 2.2% during the fourth quarter. CIBC Asset Management Inc now owns 26,434 shares of the company's stock worth $684,000 after buying an additional 560 shares during the period. 88.81% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Wanjiku Juanita Walcott sold 27,337 shares of Pinterest stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $20.46, for a total value of $559,315.02. Following the completion of the transaction, the insider owned 724,673 shares in the company, valued at $14,826,809.58. The trade was a 3.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Gokul Rajaram sold 2,100 shares of Pinterest stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $20.00, for a total transaction of $42,000.00. Following the completion of the transaction, the director owned 27,450 shares of the company's stock, valued at $549,000. This represents a 7.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 232,195 shares of company stock worth $4,811,815. 8.09% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Guggenheim reiterated a "buy" rating and issued a $24.00 price objective on shares of Pinterest in a report on Monday, June 15th. Benchmark lowered their target price on Pinterest from $34.00 to $33.00 and set a "buy" rating for the company in a report on Thursday, April 30th. Evercore set a $27.00 target price on Pinterest in a research report on Tuesday, May 5th. The Goldman Sachs Group reiterated a "buy" rating and set a $28.00 price target on shares of Pinterest in a research note on Tuesday, May 5th. Finally, Robert W. Baird increased their price target on shares of Pinterest from $20.00 to $24.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 5th. Sixteen research analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Pinterest has an average rating of "Hold" and an average target price of $27.40.

Pinterest Stock Down 0.1%

Shares of NYSE PINS opened at $20.79 on Monday. The stock has a market cap of $11.65 billion, a P/E ratio of 43.31, a PEG ratio of 1.19 and a beta of 0.92. The business's fifty day simple moving average is $20.37 and its 200-day simple moving average is $21.17. Pinterest, Inc. has a 12-month low of $13.84 and a 12-month high of $39.93. The company has a current ratio of 4.23, a quick ratio of 4.23 and a debt-to-equity ratio of 0.34.

Pinterest (NYSE:PINS - Get Free Report) last released its earnings results on Monday, May 4th. The company reported $0.27 EPS for the quarter, topping the consensus estimate of $0.22 by $0.05. Pinterest had a return on equity of 8.26% and a net margin of 7.64%.The firm had revenue of $1.01 billion during the quarter, compared to analysts' expectations of $965.84 million. During the same period in the previous year, the firm posted $0.23 EPS. Pinterest's revenue for the quarter was up 17.8% on a year-over-year basis. As a group, equities analysts predict that Pinterest, Inc. will post 0.65 EPS for the current fiscal year.

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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