Kornitzer Capital Management Inc. KS Acquires 128,000 Shares of Pinterest, Inc. (NYSE:PINS)

Kornitzer Capital Management Inc. KS lifted its stake in Pinterest, Inc. (NYSE:PINS - Free Report) by 31.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 532,296 shares of the company's stock after purchasing an additional 128,000 shares during the period. Kornitzer Capital Management Inc. KS owned 0.08% of Pinterest worth $15,437,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in Pinterest by 3.9% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 119,729 shares of the company's stock worth $3,876,000 after purchasing an additional 4,478 shares during the period. V Square Quantitative Management LLC bought a new stake in shares of Pinterest during the 3rd quarter valued at $37,000. Blue Trust Inc. increased its stake in shares of Pinterest by 244.6% in the 3rd quarter. Blue Trust Inc. now owns 7,830 shares of the company's stock worth $253,000 after acquiring an additional 5,558 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of Pinterest by 4,316.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 726,279 shares of the company's stock worth $23,510,000 after acquiring an additional 709,834 shares in the last quarter. Finally, Sequoia Financial Advisors LLC lifted its position in Pinterest by 5.2% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 6,329 shares of the company's stock valued at $205,000 after acquiring an additional 313 shares during the period. Institutional investors own 88.81% of the company's stock.

Insider Activity at Pinterest

In other Pinterest news, Director Gokul Rajaram sold 1,150 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $39.19, for a total value of $45,068.50. Following the sale, the director now owns 29,086 shares in the company, valued at $1,139,880.34. This trade represents a 3.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Wanjiku Juanita Walcott sold 11,862 shares of Pinterest stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $30.82, for a total transaction of $365,586.84. Following the sale, the insider now owns 246,921 shares of the company's stock, valued at $7,610,105.22. The trade was a 4.58 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 19,157 shares of company stock valued at $600,010. Insiders own 7.11% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on PINS. Barclays raised their target price on shares of Pinterest from $36.00 to $42.00 and gave the company an "equal weight" rating in a research note on Friday, February 7th. Benchmark raised Pinterest from a "hold" rating to a "buy" rating and set a $55.00 price objective for the company in a research report on Friday, February 7th. Piper Sandler reiterated a "neutral" rating and set a $41.00 price objective (up previously from $36.00) on shares of Pinterest in a research note on Friday, February 7th. JPMorgan Chase & Co. reduced their price target on Pinterest from $38.00 to $35.00 and set a "neutral" rating for the company in a report on Friday, November 8th. Finally, Raymond James lifted their price target on Pinterest from $34.00 to $42.00 and gave the stock an "outperform" rating in a research report on Friday, February 7th. Eight equities research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. Based on data from MarketBeat.com, Pinterest presently has an average rating of "Moderate Buy" and a consensus price target of $43.86.

Pinterest Trading Down 3.3 %

Pinterest stock traded down $1.32 during trading on Friday, reaching $38.25. The company had a trading volume of 2,819,885 shares, compared to its average volume of 12,043,981. The firm's 50-day simple moving average is $32.78 and its 200 day simple moving average is $31.78. Pinterest, Inc. has a 52 week low of $27.00 and a 52 week high of $45.19. The firm has a market capitalization of $25.94 billion, a price-to-earnings ratio of 14.21, a price-to-earnings-growth ratio of 1.90 and a beta of 1.06.

Pinterest (NYSE:PINS - Get Free Report) last released its earnings results on Thursday, February 6th. The company reported $0.33 earnings per share for the quarter, missing analysts' consensus estimates of $0.63 by ($0.30). Pinterest had a net margin of 51.07% and a return on equity of 8.10%. On average, analysts predict that Pinterest, Inc. will post 0.6 earnings per share for the current year.

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.