Charles Schwab Investment Management Inc. Has $102.94 Million Stock Position in Pinterest, Inc. (NYSE:PINS)

Charles Schwab Investment Management Inc. reduced its position in shares of Pinterest, Inc. (NYSE:PINSFree Report) by 0.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,808,391 shares of the company’s stock after selling 13,554 shares during the period. Charles Schwab Investment Management Inc. owned 0.56% of Pinterest worth $102,941,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of PINS. Cohanzick Management LLC bought a new position in shares of Pinterest in the first quarter valued at approximately $25,000. Massmutual Trust Co. FSB ADV boosted its position in shares of Pinterest by 1,093.5% in the third quarter. Massmutual Trust Co. FSB ADV now owns 1,098 shares of the company’s stock valued at $30,000 after acquiring an additional 1,006 shares during the period. Stonebridge Capital Advisors LLC boosted its position in shares of Pinterest by 5,138.9% in the first quarter. Stonebridge Capital Advisors LLC now owns 1,886 shares of the company’s stock valued at $46,000 after acquiring an additional 1,850 shares during the period. First Financial Corp IN bought a new position in shares of Pinterest in the third quarter valued at approximately $53,000. Finally, International Assets Investment Management LLC bought a new position in shares of Pinterest in the third quarter valued at approximately $60,000. 72.63% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on PINS. New Street Research began coverage on shares of Pinterest in a research report on Monday, November 27th. They set a “buy” rating and a $48.00 target price for the company. Stifel Nicolaus lifted their target price on shares of Pinterest from $26.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday, January 9th. BMO Capital Markets began coverage on shares of Pinterest in a research report on Tuesday, January 9th. They set an “outperform” rating and a $45.00 target price for the company. Bank of America upgraded shares of Pinterest from a “neutral” rating to a “buy” rating and lifted their target price for the company from $32.00 to $37.00 in a research report on Tuesday, October 31st. Finally, Roth Mkm lifted their target price on shares of Pinterest from $37.00 to $38.00 and gave the company a “neutral” rating in a research report on Friday. Seven analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $37.52.

Get Our Latest Stock Analysis on PINS

Insider Buying and Selling

In other Pinterest news, insider Wanjiku Juanita Walcott sold 11,410 shares of the business’s stock in a transaction on Monday, November 27th. The shares were sold at an average price of $32.28, for a total transaction of $368,314.80. Following the transaction, the insider now directly owns 216,326 shares of the company’s stock, valued at approximately $6,983,003.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director Gokul Rajaram sold 1,934 shares of the company’s stock in a transaction dated Wednesday, December 20th. The shares were sold at an average price of $37.95, for a total value of $73,395.30. Following the sale, the director now directly owns 39,382 shares of the company’s stock, valued at approximately $1,494,546.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Wanjiku Juanita Walcott sold 11,410 shares of the company’s stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $32.28, for a total transaction of $368,314.80. Following the completion of the sale, the insider now directly owns 216,326 shares in the company, valued at $6,983,003.28. The disclosure for this sale can be found here. Insiders have sold a total of 77,737 shares of company stock valued at $2,826,987 over the last three months. 6.85% of the stock is owned by company insiders.

Pinterest Stock Down 9.5 %

Shares of NYSE PINS opened at $36.87 on Friday. Pinterest, Inc. has a 52 week low of $20.60 and a 52 week high of $41.60. The firm’s fifty day moving average is $37.15 and its 200 day moving average is $31.29.

About Pinterest

(Free Report)

Pinterest, Inc operates as a visual discovery engine in the United States and internationally. The company's engine allows people to find ideas, such as recipes, home and style inspiration, and others; provides video, product, and idea pins; and offers organizing and planning tools. It shows organic recommendations and advertising engine based on pinners tastes and preferences; and enables pinners with shoppable product pins, which include price, color, and size that redirect to retailer websites.

See Also

Institutional Ownership by Quarter for Pinterest (NYSE:PINS)

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