Charles Schwab Investment Management Inc. Buys 87,041 Shares of Pinterest, Inc. (NYSE:PINS)

Charles Schwab Investment Management Inc. increased its stake in Pinterest, Inc. (NYSE:PINS) by 2.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,252,996 shares of the company’s stock after purchasing an additional 87,041 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.62% of Pinterest worth $137,669,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Baillie Gifford & Co. raised its stake in shares of Pinterest by 9.5% in the second quarter. Baillie Gifford & Co. now owns 10,116,139 shares of the company’s stock valued at $445,818,000 after buying an additional 880,398 shares during the period. Ontario Teachers Pension Plan Board raised its stake in Pinterest by 51.5% in the 3rd quarter. Ontario Teachers Pension Plan Board now owns 8,812,117 shares of the company’s stock valued at $285,248,000 after acquiring an additional 2,996,750 shares during the period. Bank of New York Mellon Corp lifted its holdings in Pinterest by 6.8% during the second quarter. Bank of New York Mellon Corp now owns 5,960,861 shares of the company’s stock valued at $262,695,000 after purchasing an additional 380,431 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its position in Pinterest by 8.4% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,944,489 shares of the company’s stock worth $192,423,000 after purchasing an additional 460,708 shares during the period. Finally, Acadian Asset Management LLC increased its stake in shares of Pinterest by 31.6% in the second quarter. Acadian Asset Management LLC now owns 5,645,845 shares of the company’s stock worth $248,793,000 after purchasing an additional 1,356,459 shares in the last quarter. Hedge funds and other institutional investors own 88.81% of the company’s stock.

Insider Buying and Selling

In other news, CFO Donnelly Julia Brau sold 30,280 shares of the company’s stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $32.72, for a total transaction 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 represents a 9.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Gokul Rajaram sold 1,150 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $29.73, for a total value of $34,189.50. Following the completion of the sale, the director now directly owns 32,536 shares in the company, valued at $967,295.28. The trade was a 3.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 32,580 shares of company stock worth $1,063,499 in the last ninety days. 7.11% of the stock is owned by insiders.

Pinterest Trading Up 2.4 %

Shares of NYSE:PINS opened at $30.02 on Monday. The stock has a market capitalization of $20.29 billion, a P/E ratio of 100.07, a price-to-earnings-growth ratio of 2.10 and a beta of 1.02. The stock’s 50-day moving average price is $31.73 and its 200-day moving average price is $35.81. Pinterest, Inc. has a 12-month low of $27.00 and a 12-month high of $45.19.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on PINS shares. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $41.00 price objective on shares of Pinterest in a report on Monday, October 7th. Wedbush upgraded Pinterest from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 11th. Evercore ISI cut their target price on Pinterest from $50.00 to $48.00 and set an “outperform” rating for the company in a research note on Wednesday, July 31st. Robert W. Baird decreased their price target on Pinterest from $41.00 to $36.00 and set an “outperform” rating on the stock in a research report on Friday, November 8th. Finally, Stifel Nicolaus lowered their price target on shares of Pinterest from $46.00 to $45.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Seven analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target 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.