4 Stocks To Buy According To Dennis Goldstein’s Rip Road Capital

2. Pinterest, Inc. (NYSE:PINS)

Rip Road Capital’s Stake Value: $31,774,000

Percentage of Rip Road Capital’s 13F Portfolio: 9.37%

Number of Hedge Fund Holders: 58

Pinterest, Inc. (NYSE:PINS) is a social platform that allows people to share creative images, ideas, videos, and animated GIFs, which can be saved by other users to create mood boards for inspiration. 

Rip Road Capital owns 623,636 shares in Pinterest, Inc. (NYSE:PINS), valued at $31.7 million, making up 9.37% of the firm’s third quarter 13F portfolio.

At the end of the third quarter, 58 hedge funds were long Pinterest, Inc. (NYSE:PINS), down from 63 in the previous quarter. 

Here is what Alger has to say about Pinterest, Inc. (NYSE:PINS) in its Q3 2021 investor letter:

“Pinterest is an image sharing and social media service designed to help consumers discover product information and save the information on the internet using images and, on a smaller scale, animated GIFs and videos, in the form of Pinboards. The company shows consumers visual recommendations, called Pins, based on their personal tastes and interests. Pinterest provides advertisers with information on consumer activities, such as becoming inspired by images, as well as other points along the sales funnel, which is the process in which potential customers become purchasers of products. Shares of Pinterest underperformed after the company reported a larger-than expected decline in monthly active users (MAU) and provided guidance for the third quarter that included revenue growth of 40%, which was in line with consensus. Management didn’t provide MAU guidance for the third quarter due to engagement headwinds. These headwinds resulted from the economy reopening, which means consumers may spend less time online because they are commuting and venturing out for shopping, entertainment and social events. We believe the company appears to be losing its pandemic tailwinds that involved increased online shopping. We have sold the position.”