Kornitzer Capital Management Inc. KS Has $10.05 Million Holdings in Pinterest, Inc. (NYSE:PINS)

Kornitzer Capital Management Inc. KS lowered its position in Pinterest, Inc. (NYSE:PINS - Free Report) by 39.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 324,296 shares of the company's stock after selling 208,000 shares during the quarter. Kornitzer Capital Management Inc. KS's holdings in Pinterest were worth $10,053,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. Revolve Wealth Partners LLC bought a new stake in Pinterest during the fourth quarter worth approximately $252,000. Proficio Capital Partners LLC bought a new stake in Pinterest during the fourth quarter worth approximately $1,926,000. Independent Advisor Alliance boosted its holdings in Pinterest by 26.3% during the fourth quarter. Independent Advisor Alliance now owns 10,916 shares of the company's stock worth $317,000 after buying an additional 2,274 shares in the last quarter. Natixis Advisors LLC boosted its holdings in Pinterest by 16.5% during the fourth quarter. Natixis Advisors LLC now owns 124,799 shares of the company's stock worth $3,619,000 after buying an additional 17,669 shares in the last quarter. Finally, Creative Financial Designs Inc. ADV boosted its holdings in Pinterest by 4.3% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 51,712 shares of the company's stock worth $1,500,000 after buying an additional 2,138 shares in the last quarter. Institutional investors and hedge funds own 88.81% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on PINS shares. Guggenheim reduced their target price on shares of Pinterest from $40.00 to $39.00 and set a "buy" rating for the company in a report on Friday, May 9th. JPMorgan Chase & Co. raised shares of Pinterest from a "neutral" rating to an "overweight" rating and raised their price objective for the stock from $35.00 to $40.00 in a research note on Tuesday, June 3rd. Stifel Nicolaus decreased their price objective on shares of Pinterest from $50.00 to $36.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. Morgan Stanley raised their price objective on shares of Pinterest from $28.00 to $37.00 and gave the stock an "equal weight" rating in a research note on Friday, May 9th. Finally, KeyCorp raised their price objective on shares of Pinterest from $40.00 to $45.00 and gave the stock an "overweight" rating in a research note on Thursday. Six research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $41.19.

Insider Buying and Selling at Pinterest

In other news, CFO Donnelly Julia Brau sold 29,606 shares of Pinterest stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $34.25, for a total transaction of $1,014,005.50. Following the sale, the chief financial officer directly owned 362,890 shares in the company, valued at approximately $12,428,982.50. The trade was a 7.54% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Wanjiku Juanita Walcott sold 11,510 shares of the business's stock in a transaction dated Friday, June 27th. The shares were sold at an average price of $35.68, for a total transaction of $410,676.80. Following the completion of the transaction, the insider owned 390,230 shares in the company, valued at approximately $13,923,406.40. This trade represents a 2.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,278,445 shares of company stock valued at $43,269,922 in the last 90 days. Insiders own 7.06% of the company's stock.

Pinterest Trading Up 3.2%

PINS traded up $1.16 during trading on Friday, hitting $37.24. The stock had a trading volume of 11,433,021 shares, compared to its average volume of 11,077,782. The firm has a market cap of $25.26 billion, a PE ratio of 13.59, a P/E/G ratio of 1.78 and a beta of 0.94. The company has a 50 day simple moving average of $33.97 and a 200-day simple moving average of $32.30. Pinterest, Inc. has a 12 month low of $23.68 and a 12 month high of $42.20.

Pinterest (NYSE:PINS - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.02). The company had revenue of $854.99 million during the quarter, compared to analyst estimates of $848.49 million. Pinterest had a return on equity of 8.13% and a net margin of 50.41%. The business's revenue for the quarter was up 15.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.17 earnings per share. As a group, sell-side analysts anticipate that Pinterest, Inc. will post 0.6 earnings per share for the current fiscal year.

Pinterest 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.