Pinterest, Inc. (NYSE:PINS) Stake Raised by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS boosted its stake in Pinterest, Inc. (NYSE:PINS - Free Report) by 20.3% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 404,296 shares of the company's stock after acquiring an additional 68,096 shares during the period. Kornitzer Capital Management Inc. KS owned 0.06% of Pinterest worth $13,087,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PINS. Radnor Capital Management LLC increased its stake in shares of Pinterest by 1.7% during the third quarter. Radnor Capital Management LLC now owns 33,680 shares of the company's stock worth $1,090,000 after acquiring an additional 560 shares during the period. United Advisor Group LLC raised its stake in shares of Pinterest by 240.5% during the 3rd quarter. United Advisor Group LLC now owns 16,329 shares of the company's stock worth $529,000 after buying an additional 11,534 shares in the last quarter. Greenwood Capital Associates LLC lifted its holdings in shares of Pinterest by 9.5% in the 3rd quarter. Greenwood Capital Associates LLC now owns 153,940 shares of the company's stock valued at $4,983,000 after buying an additional 13,323 shares during the period. Impax Asset Management Group plc lifted its holdings in shares of Pinterest by 26.1% in the 3rd quarter. Impax Asset Management Group plc now owns 50,437 shares of the company's stock valued at $1,633,000 after buying an additional 10,437 shares during the period. Finally, Quintet Private Bank Europe S.A. boosted its stake in shares of Pinterest by 9.2% in the third quarter. Quintet Private Bank Europe S.A. now owns 37,868 shares of the company's stock valued at $1,226,000 after buying an additional 3,205 shares in the last quarter. 88.81% of the stock is owned by hedge funds and other institutional investors.

Pinterest Stock Performance

Shares of PINS stock traded up $0.17 during mid-day trading on Thursday, reaching $33.93. 22,864,367 shares of the company were exchanged, compared to its average volume of 9,284,813. The business's 50 day simple moving average is $31.82 and its 200 day simple moving average is $36.38. The company has a market capitalization of $23.28 billion, a P/E ratio of 125.02, a P/E/G ratio of 2.49 and a beta of 1.02. Pinterest, Inc. has a fifty-two week low of $27.00 and a fifty-two week high of $45.19.

Insider Transactions at Pinterest

In related news, CFO Donnelly Julia Brau sold 30,280 shares of the company's stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $32.72, for a total transaction of $990,761.60. Following the sale, the chief financial officer now directly owns 297,351 shares of the company's stock, valued at approximately $9,729,324.72. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Pinterest news, Director Gokul Rajaram sold 1,150 shares of Pinterest stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $33.52, for a total value of $38,548.00. Following the completion of the transaction, the director now directly owns 33,686 shares in the company, valued at $1,129,154.72. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Donnelly Julia Brau sold 30,280 shares of the business's stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $32.72, for a total value of $990,761.60. Following the transaction, the chief financial officer now owns 297,351 shares of the company's stock, valued at $9,729,324.72. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 7.11% of the company's stock.

Analysts Set New Price Targets

PINS has been the topic of a number of recent analyst reports. KeyCorp upped their price target on shares of Pinterest from $43.00 to $45.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 9th. Piper Sandler reaffirmed an "overweight" rating and issued a $45.00 price objective on shares of Pinterest in a research note on Friday, September 13th. Morgan Stanley boosted their target price on Pinterest from $35.00 to $38.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 23rd. Roth Mkm dropped their price target on Pinterest from $40.00 to $39.00 and set a "neutral" rating for the company in a research report on Wednesday, July 31st. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $48.00 price objective on shares of Pinterest in a research report on Thursday, September 12th. Eight research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $43.56.

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.