Mackenzie Financial Corp Acquires 1,622 Shares of Pinterest, Inc. (NYSE:PINS)

Mackenzie Financial Corp lifted its holdings in Pinterest, Inc. (NYSE:PINS) by 5.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 31,191 shares of the company’s stock after buying an additional 1,622 shares during the quarter. Mackenzie Financial Corp’s holdings in Pinterest were worth $1,155,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Washington Trust Advisors Inc. increased its position in Pinterest by 46.0% in the fourth quarter. Washington Trust Advisors Inc. now owns 1,035 shares of the company’s stock worth $38,000 after purchasing an additional 326 shares during the period. Clear Street Markets LLC acquired a new position in shares of Pinterest during the 3rd quarter worth about $41,000. Blue Trust Inc. grew its position in shares of Pinterest by 87.7% during the 4th quarter. Blue Trust Inc. now owns 1,192 shares of the company’s stock worth $44,000 after buying an additional 557 shares during the period. Global Retirement Partners LLC grew its position in shares of Pinterest by 396.2% during the 4th quarter. Global Retirement Partners LLC now owns 1,300 shares of the company’s stock worth $48,000 after buying an additional 1,038 shares during the period. Finally, Covestor Ltd grew its position in shares of Pinterest by 155.2% during the 3rd quarter. Covestor Ltd now owns 1,980 shares of the company’s stock worth $54,000 after buying an additional 1,204 shares during the period. 88.81% of the stock is owned by institutional investors.

Pinterest Stock Down 0.5 %

Shares of Pinterest stock opened at $32.85 on Thursday. Pinterest, Inc. has a 12-month low of $20.60 and a 12-month high of $41.60. The stock has a market cap of $22.30 billion, a P/E ratio of -547.50, a P/E/G ratio of 4.49 and a beta of 0.99. The business’s 50 day moving average is $34.68 and its 200-day moving average is $34.16.

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

Insider Activity at Pinterest

In related news, insider Sabrina Ellis sold 24,410 shares of the stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $35.49, for a total value of $866,310.90. Following the sale, the insider now owns 500,504 shares in the company, valued at approximately $17,762,886.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Pinterest news, Director Jeffrey D. Jordan sold 20,000 shares of the company’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $36.65, for a total value of $733,000.00. Following the transaction, the director now directly owns 54,215 shares of the company’s stock, valued at approximately $1,986,979.75. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Sabrina Ellis sold 24,410 shares of the company’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $35.49, for a total value of $866,310.90. Following the completion of the transaction, the insider now directly owns 500,504 shares in the company, valued at $17,762,886.96. The disclosure for this sale can be found here. In the last quarter, insiders have sold 184,471 shares of company stock worth $6,525,231. Company insiders own 6.85% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on PINS shares. Rosenblatt Securities restated a “buy” rating and set a $45.00 target price on shares of Pinterest in a research report on Friday, February 9th. Piper Sandler reiterated an “overweight” rating and issued a $48.00 price objective on shares of Pinterest in a research report on Tuesday, March 26th. Stifel Nicolaus boosted their price objective on Pinterest from $26.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday, January 9th. Royal Bank of Canada boosted their price objective on Pinterest from $46.00 to $48.00 and gave the company an “outperform” rating in a research report on Friday, February 9th. Finally, BMO Capital Markets initiated coverage on Pinterest in a research report on Tuesday, January 9th. They issued an “outperform” rating and a $45.00 price objective for the company. Seven equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to MarketBeat.com, Pinterest presently has an average rating of “Moderate Buy” and a consensus price target of $37.68.

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.