Assenagon Asset Management S.A. Increases Holdings in Pinterest, Inc. (NYSE:PINS)

Assenagon Asset Management S.A. increased its holdings in shares of Pinterest, Inc. (NYSE:PINS) by 582.2% in the 4th quarter, HoldingsChannel.com reports. The firm owned 2,266,948 shares of the company’s stock after acquiring an additional 1,934,653 shares during the period. Assenagon Asset Management S.A.’s holdings in Pinterest were worth $65,741,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PINS. Brown Shipley& Co Ltd bought a new position in Pinterest in the 2nd quarter worth approximately $25,000. GAMMA Investing LLC boosted its position in shares of Pinterest by 63.5% during the fourth quarter. GAMMA Investing LLC now owns 1,069 shares of the company’s stock worth $31,000 after acquiring an additional 415 shares during the last quarter. V Square Quantitative Management LLC purchased a new position in Pinterest during the third quarter valued at $37,000. Crewe Advisors LLC increased its holdings in Pinterest by 91.1% in the 3rd quarter. Crewe Advisors LLC now owns 1,154 shares of the company’s stock valued at $37,000 after acquiring an additional 550 shares during the last quarter. Finally, True Wealth Design LLC lifted its stake in Pinterest by 8,261.1% in the 3rd quarter. True Wealth Design LLC now owns 1,505 shares of the company’s stock worth $49,000 after purchasing an additional 1,487 shares in the last quarter. Institutional investors own 88.81% of the company’s stock.

Insiders Place Their Bets

In other Pinterest news, CAO Andrea Acosta sold 3,845 shares of the company’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $30.88, for a total transaction of $118,733.60. Following the completion of the sale, the chief accounting officer now owns 158,468 shares in the company, valued at $4,893,491.84. This represents a 2.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gokul Rajaram sold 1,150 shares of Pinterest stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $29.73, for a total value of $34,189.50. Following the completion of the transaction, the director now owns 32,536 shares in the company, valued at $967,295.28. This represents a 3.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 18,007 shares of company stock worth $554,137. 7.11% of the stock is currently owned by company insiders.

Pinterest Stock Up 2.9 %

Shares of NYSE:PINS opened at $30.65 on Thursday. The business’s 50 day moving average is $30.46 and its 200 day moving average is $32.58. The stock has a market cap of $20.71 billion, a P/E ratio of 102.17, a price-to-earnings-growth ratio of 2.17 and a beta of 1.04. Pinterest, Inc. has a 52-week low of $27.00 and a 52-week high of $45.19.

Wall Street Analyst Weigh In

PINS has been the subject of a number of research analyst reports. Oppenheimer cut their price objective on Pinterest from $45.00 to $40.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. Roth Mkm reduced their price objective on Pinterest from $39.00 to $33.00 and set a “neutral” rating on the stock in a research note on Friday, November 8th. Deutsche Bank Aktiengesellschaft assumed coverage on Pinterest in a report on Monday, September 23rd. They set a “buy” rating and a $43.00 price objective on the stock. Piper Sandler lowered shares of Pinterest from an “overweight” rating to a “neutral” rating and cut their target price for the company from $41.00 to $36.00 in a report on Tuesday, December 10th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $41.00 price target on shares of Pinterest in a research note on Monday, October 7th. Nine research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Pinterest presently has an average rating of “Moderate Buy” and an average target price of $40.86.

Pinterest Company Profile

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.