Charles Schwab Investment Management Inc. Raises Position in Pinterest, Inc. (NYSE:PINS)

Charles Schwab Investment Management Inc. grew its position in shares of Pinterest, Inc. (NYSE:PINS) by 2.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,252,996 shares of the company’s stock after buying an additional 87,041 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Pinterest were worth $137,669,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in PINS. Brown Shipley& Co Ltd purchased a new stake in shares of Pinterest during the 2nd quarter valued at about $25,000. Wellington Shields Capital Management LLC bought a new stake in Pinterest in the 2nd quarter worth approximately $26,000. Hexagon Capital Partners LLC raised its stake in Pinterest by 157.7% during the 2nd quarter. Hexagon Capital Partners LLC now owns 750 shares of the company’s stock valued at $33,000 after buying an additional 459 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Pinterest by 113.4% during the 2nd quarter. GAMMA Investing LLC now owns 762 shares of the company’s stock valued at $34,000 after buying an additional 405 shares during the period. Finally, Rothschild Investment LLC purchased a new position in shares of Pinterest in the 2nd quarter worth $35,000. Institutional investors own 88.81% of the company’s stock.

Pinterest Stock Performance

Shares of NYSE PINS opened at $30.02 on Monday. The company has a market cap of $20.29 billion, a P/E ratio of 100.07, a P/E/G ratio of 2.10 and a beta of 1.02. Pinterest, Inc. has a 52-week low of $27.00 and a 52-week high of $45.19. The firm’s fifty day moving average is $31.73 and its two-hundred day moving average is $35.81.

Insider Activity

In related news, CFO Donnelly Julia Brau sold 30,280 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief financial officer now directly owns 297,351 shares of the company’s stock, valued at approximately $9,729,324.72. This trade represents a 9.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Gokul Rajaram sold 1,150 shares of the business’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $29.73, for a total transaction of $34,189.50. Following the completion of the sale, the director now owns 32,536 shares in the company, valued at $967,295.28. This represents a 3.41 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 32,580 shares of company stock worth $1,063,499 over the last 90 days. Corporate insiders own 7.11% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on PINS. Royal Bank of Canada reiterated an “outperform” rating and set a $48.00 price objective on shares of Pinterest in a research report on Thursday, September 12th. Citigroup lowered their price objective on shares of Pinterest from $51.00 to $44.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. Susquehanna reduced their target price 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. JPMorgan Chase & Co. decreased their price target on shares of Pinterest from $38.00 to $35.00 and set a “neutral” rating on the stock in a research report on Friday, November 8th. Finally, Wedbush raised shares of Pinterest from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 11th. Seven investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $42.00.

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.