Assenagon Asset Management S.A. Sells 31,579 Shares of Pinterest, Inc. (NYSE:PINS)

Assenagon Asset Management S.A. trimmed its position in shares of Pinterest, Inc. (NYSE:PINS) by 8.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 326,198 shares of the company’s stock after selling 31,579 shares during the period. Assenagon Asset Management S.A.’s holdings in Pinterest were worth $12,082,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Nordea Investment Management AB grew its holdings in Pinterest by 57.9% during the 4th quarter. Nordea Investment Management AB now owns 882,233 shares of the company’s stock valued at $32,766,000 after purchasing an additional 323,547 shares during the last quarter. Acadian Asset Management LLC grew its holdings in Pinterest by 53.1% during the 3rd quarter. Acadian Asset Management LLC now owns 3,138,973 shares of the company’s stock valued at $84,826,000 after purchasing an additional 1,089,299 shares during the last quarter. Trexquant Investment LP grew its holdings in Pinterest by 332.7% during the 2nd quarter. Trexquant Investment LP now owns 62,650 shares of the company’s stock valued at $1,713,000 after purchasing an additional 48,172 shares during the last quarter. National Bank of Canada FI grew its holdings in Pinterest by 1,059.5% during the 3rd quarter. National Bank of Canada FI now owns 85,723 shares of the company’s stock valued at $2,318,000 after purchasing an additional 78,330 shares during the last quarter. Finally, Los Angeles Capital Management LLC bought a new position in Pinterest in the 3rd quarter worth about $1,387,000. 88.81% of the stock is currently owned by institutional investors.

Pinterest Stock Down 0.6 %

Shares of PINS opened at $34.68 on Friday. Pinterest, Inc. has a twelve month low of $20.60 and a twelve month high of $41.60. The company has a 50 day moving average of $36.22 and a two-hundred day moving average of $33.15. The company has a market cap of $23.55 billion, a price-to-earnings ratio of -577.90, a price-to-earnings-growth ratio of 4.87 and a beta of 1.00.

Pinterest (NYSE:PINS) last posted its quarterly earnings data on Thursday, February 8th. The company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.25 by $0.04. Pinterest had a negative net margin of 1.17% and a positive return on equity of 3.83%. The business had revenue of $981.26 million during the quarter, compared to the consensus estimate of $988.62 million. On average, sell-side analysts expect that Pinterest, Inc. will post 0.36 EPS for the current year.

Insider Transactions at Pinterest

In other news, CFO Donnelly Julia Brau sold 65,972 shares of Pinterest stock in a transaction on Monday, March 11th. The shares were sold at an average price of $34.42, for a total transaction of $2,270,756.24. Following the completion of the sale, the chief financial officer now directly owns 392,829 shares in the company, valued at $13,521,174.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Jeffrey D. Jordan sold 20,000 shares of the firm’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $36.29, for a total transaction of $725,800.00. Following the completion of the transaction, the director now owns 94,215 shares of the company’s stock, valued at $3,419,062.35. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Donnelly Julia Brau sold 65,972 shares of the firm’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $34.42, for a total transaction of $2,270,756.24. Following the transaction, the chief financial officer now directly owns 392,829 shares of the company’s stock, valued at approximately $13,521,174.18. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 184,471 shares of company stock worth $6,555,581. Company insiders own 6.85% of the company’s stock.

Analysts Set New Price Targets

PINS has been the topic of a number of research analyst reports. Evercore ISI upped their target price on shares of Pinterest from $45.00 to $50.00 and gave the stock an “outperform” rating in a research note on Friday, January 26th. Royal Bank of Canada upped their target price on shares of Pinterest from $46.00 to $48.00 and gave the stock an “outperform” rating in a research note on Friday, February 9th. Roth Mkm upped their target price on shares of Pinterest from $37.00 to $38.00 and gave the stock a “neutral” rating in a research note on Friday, February 9th. KeyCorp upped their target price on shares of Pinterest from $37.00 to $48.00 and gave the stock an “overweight” rating in a research note on Monday, February 5th. Finally, Wedbush upped their target price on shares of Pinterest from $35.00 to $38.00 and gave the stock a “neutral” rating in a research note on Friday, February 9th. Seven equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $37.80.

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.