5 Best Beaten Down Stocks To Buy Today

4. Pinterest, Inc. (NYSE:PINS)

Number of Hedge Fund Holders: 63 

Percentage Loss in Share Price over Past Three Months: 19.71% 

Pinterest, Inc. (NYSE:PINS) owns and runs a visual discovery engine. The company has been operating in a fiercely competitive social media environment for the past few years and the stock was recently buoyed by news that payments giant PayPal was interested in buying the firm. However, the stock slumped by about 12% in a single day in late October after the payments firm clarified it was not pursuing the purchase. 

Pinterest, Inc. (NYSE:PINS) has strong fundamentals, recently smashing analyst estimates on earnings for the third quarter, and has been investing heavily in monetization to take advantage of the increased spending on digital platforms. The stock has recovered from the PayPal snub fairly quickly. 

Among the hedge funds being tracked by Insider Monkey, New York-based investment firm Alkeon Capital Management is a leading shareholder in Pinterest, Inc. (NYSE:PINS) with 4.5 million shares worth more than $356 million. 

In its Q1 2021 investor letter, Carillon Tower Advisers, an asset management firm, highlighted a few stocks and Pinterest, Inc. (NYSE:PINS) was one of them. Here is what the fund said:

“Pinterest is an operator of a pinboard-style social media website that enables users to create theme-based image collections for events, hobbies, and other personal interests. The firm delivered another quarter of both earnings and forward guidance above investor expectations, sending shares higher. Strength was driven by notable user growth and a return of advertising spending. We remain excited about an increase in video content, new analytics tools for advertisers, and an increasing shift towards ecommerce.”