TCW Group Inc. Acquires 88,086 Shares of Pinterest, Inc. (NYSE:PINS)

TCW Group Inc. increased its position in Pinterest, Inc. (NYSE:PINS - Free Report) by 14.6% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 690,082 shares of the company's stock after buying an additional 88,086 shares during the period. TCW Group Inc. owned about 0.10% of Pinterest worth $22,338,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Maverick Capital Ltd. boosted its holdings in shares of Pinterest by 47.6% in the 3rd quarter. Maverick Capital Ltd. now owns 57,180 shares of the company's stock worth $1,851,000 after purchasing an additional 18,430 shares during the period. Caisse DE Depot ET Placement DU Quebec raised its holdings in shares of Pinterest by 8.4% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,540,152 shares of the company's stock valued at $49,855,000 after acquiring an additional 119,367 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of Pinterest by 4.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 844,187 shares of the company's stock valued at $27,326,000 after purchasing an additional 32,539 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Pinterest by 2.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,252,996 shares of the company's stock worth $137,669,000 after acquiring an additional 87,041 shares in the last quarter. Finally, Kornitzer Capital Management Inc. KS boosted its holdings in shares of Pinterest by 20.3% in the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 404,296 shares of the company's stock valued at $13,087,000 after buying an additional 68,096 shares in the last quarter. Institutional investors own 88.81% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently commented on PINS. TD Cowen assumed coverage on Pinterest in a report on Tuesday, November 26th. They set a "buy" rating and a $38.00 target price for the company. Royal Bank of Canada reaffirmed an "outperform" rating and set a $48.00 target price on shares of Pinterest in a research note on Tuesday. Roth Mkm lowered their price target on Pinterest from $39.00 to $33.00 and set a "neutral" rating on the stock in a research note on Friday, November 8th. Rosenblatt Securities decreased their target price on shares of Pinterest from $48.00 to $46.00 and set a "buy" rating on the stock in a research note on Friday, November 8th. Finally, KeyCorp reduced their target price on shares of Pinterest from $45.00 to $39.00 and set an "overweight" rating on the stock in a research note on Monday, November 11th. Eight research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Pinterest currently has a consensus rating of "Moderate Buy" and a consensus target price of $41.46.

Pinterest Stock Performance

Shares of PINS stock traded up $0.10 on Wednesday, hitting $31.93. The company had a trading volume of 9,064,059 shares, compared to its average volume of 9,654,550. The firm has a market cap of $21.58 billion, a P/E ratio of 106.10, a P/E/G ratio of 2.28 and a beta of 1.02. Pinterest, Inc. has a twelve month low of $27.00 and a twelve month high of $45.19. The stock's 50-day moving average is $31.77 and its two-hundred day moving average is $34.84.

Insider Activity

In other Pinterest news, Director Gokul Rajaram sold 1,150 shares of Pinterest stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $33.52, for a total transaction of $38,548.00. Following the completion of the transaction, the director now owns 33,686 shares of the company's stock, valued at $1,129,154.72. The trade was a 3.30 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Donnelly Julia Brau sold 30,280 shares of the business's stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $32.72, for a total value of $990,761.60. Following the transaction, the chief financial officer now directly owns 297,351 shares of the company's stock, valued at $9,729,324.72. The trade was a 9.24 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 48,287 shares of company stock worth $1,547,820 over the last quarter. 7.11% of the stock is currently owned by corporate insiders.

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.