Kornitzer Capital Management Inc. KS Boosts Stock Position in Pinterest, Inc. (NYSE:PINS)

Kornitzer Capital Management Inc. KS boosted its stake in Pinterest, Inc. (NYSE:PINS) by 20.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Mitsubishi UFJ Trust & Banking Corp raised its holdings in shares of Pinterest by 13.0% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 447,148 shares of the company’s stock worth $15,598,000 after purchasing an additional 51,455 shares during the period. Russell Investments Group Ltd. raised its position in shares of Pinterest by 38.0% during the 1st quarter. Russell Investments Group Ltd. now owns 613,564 shares of the company’s stock worth $21,358,000 after purchasing an additional 169,052 shares during the period. Artemis Investment Management LLP bought a new stake in shares of Pinterest in the 2nd quarter worth approximately $5,045,000. Quantbot Technologies LP boosted its position in Pinterest by 217.8% during the 2nd quarter. Quantbot Technologies LP now owns 118,749 shares of the company’s stock valued at $5,233,000 after purchasing an additional 81,380 shares during the period. Finally, State Board of Administration of Florida Retirement System grew its stake in Pinterest by 4.3% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 688,071 shares of the company’s stock worth $23,855,000 after buying an additional 28,261 shares during the last quarter. 88.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on PINS shares. Susquehanna reduced their price target on shares of Pinterest from $50.00 to $45.00 and set a “positive” rating for the company in a report on Wednesday, July 31st. KeyCorp upped their target price on shares of Pinterest from $43.00 to $45.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft initiated coverage on Pinterest in a report on Monday, September 23rd. They set a “buy” rating and a $43.00 price target on the stock. Wells Fargo & Company lowered their target price on Pinterest from $49.00 to $41.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 31st. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $48.00 price target on shares of Pinterest in a research report on Wednesday, July 31st. Eight analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $43.56.

Pinterest Stock Up 1.2 %

Shares of NYSE:PINS traded up $0.42 on Thursday, reaching $34.18. The company had a trading volume of 1,577,100 shares, compared to its average volume of 9,185,329. The stock has a market capitalization of $23.45 billion, a P/E ratio of 125.02, a P/E/G ratio of 2.49 and a beta of 1.02. The stock has a 50-day moving average price of $31.82 and a 200 day moving average price of $36.38. Pinterest, Inc. has a twelve month low of $27.00 and a twelve month high of $45.19.

Insider Buying and Selling

In other Pinterest news, Director Gokul Rajaram sold 1,150 shares of the stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $33.52, for a total transaction of $38,548.00. Following the transaction, the director now owns 33,686 shares in the company, valued at $1,129,154.72. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CFO Donnelly Julia Brau sold 30,280 shares of the 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 completion of the sale, the chief financial officer now owns 297,351 shares in the company, valued at $9,729,324.72. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Gokul Rajaram sold 1,150 shares of the firm’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $33.52, for a total value of $38,548.00. Following the completion of the sale, the director now directly owns 33,686 shares in the company, valued at $1,129,154.72. This trade 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.

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.