Mackenzie Financial Corp Has $1.16 Million Holdings in Pinterest, Inc. (NYSE:PINS)

Mackenzie Financial Corp raised its position in Pinterest, Inc. (NYSE:PINS) by 5.5% in the fourth quarter, HoldingsChannel reports. The fund owned 31,191 shares of the company’s stock after purchasing an additional 1,622 shares during the quarter. Mackenzie Financial Corp’s holdings in Pinterest were worth $1,155,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in PINS. Washington Trust Advisors Inc. grew its stake in Pinterest by 46.0% in the fourth quarter. Washington Trust Advisors Inc. now owns 1,035 shares of the company’s stock valued at $38,000 after acquiring an additional 326 shares during the period. Clear Street Markets LLC acquired a new stake in Pinterest in the third quarter valued at approximately $41,000. Blue Trust Inc. grew its stake in Pinterest by 87.7% in the fourth quarter. Blue Trust Inc. now owns 1,192 shares of the company’s stock valued at $44,000 after acquiring an additional 557 shares during the period. Global Retirement Partners LLC grew its stake in Pinterest by 396.2% in the fourth quarter. Global Retirement Partners LLC now owns 1,300 shares of the company’s stock valued at $48,000 after acquiring an additional 1,038 shares during the period. Finally, Covestor Ltd grew its stake in Pinterest by 155.2% in the third quarter. Covestor Ltd now owns 1,980 shares of the company’s stock valued at $54,000 after acquiring an additional 1,204 shares during the period. Institutional investors and hedge funds own 88.81% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on PINS. Royal Bank of Canada lifted their target price on Pinterest from $46.00 to $48.00 and gave the company an “outperform” rating in a research report on Friday, February 9th. Susquehanna lifted their target price on Pinterest from $35.00 to $45.00 and gave the company a “positive” rating in a research report on Friday, February 9th. Piper Sandler reaffirmed an “overweight” rating and set a $48.00 target price on shares of Pinterest in a research report on Tuesday, March 26th. BMO Capital Markets began coverage on Pinterest in a research report on Tuesday, January 9th. They set an “outperform” rating and a $45.00 target price on the stock. Finally, KeyCorp cut their target price on Pinterest from $48.00 to $40.00 and set an “overweight” rating on the stock in a research report on Wednesday. Seven analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $37.68.

Pinterest Price Performance

Shares of NYSE PINS opened at $32.85 on Thursday. The business’s fifty day moving average price is $34.68 and its 200-day moving average price is $34.16. The stock has a market capitalization of $22.30 billion, a PE ratio of -547.50, a P/E/G ratio of 4.49 and a beta of 0.99. Pinterest, Inc. has a one year low of $20.60 and a one year high of $41.60.

Pinterest (NYSE:PINS) last issued its quarterly earnings data on Thursday, February 8th. The company reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.04. The business had revenue of $981.26 million for the quarter, compared to analysts’ expectations of $988.62 million. Pinterest had a positive return on equity of 3.83% and a negative net margin of 1.17%. As a group, equities analysts expect that Pinterest, Inc. will post 0.36 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Gokul Rajaram sold 1,934 shares of the stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $34.10, for a total transaction of $65,949.40. Following the sale, the director now owns 33,580 shares of the company’s stock, valued at approximately $1,145,078. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Pinterest news, Director Gokul Rajaram sold 1,934 shares of the company’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $34.10, for a total value of $65,949.40. Following the transaction, the director now directly owns 33,580 shares in the company, valued at approximately $1,145,078. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jeffrey D. Jordan sold 20,000 shares of the company’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $35.08, for a total value of $701,600.00. Following the completion of the transaction, the director now owns 34,215 shares in the company, valued at $1,200,262.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 184,471 shares of company stock valued at $6,525,231. Corporate insiders own 6.85% of the company’s stock.

About Pinterest

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.