Carillon Tower Advisers: “Pinterest (PINS) was a Strong Performer in the Fourth Quarter”

Carillon Tower Advisers, an investment management firm, published its fourth quarter 2020 “Carillon Eagle Mid Cap Growth Fund” investor letter – a copy of which can be downloaded here. In the letter, the fund talked about their best and worst securities, together with their outlook for this year from an investment perspective. You can view the fund’s top 5 holdings to have a peek at their top bets for 2021.

Carillon Tower Advisers, in their Q4 2020 investor letter, mentioned Pinterest, Inc. (NYSE: PINS) and emphasized their views on the company. Pinterest, Inc. is a San Francisco, California-based software company that currently has a $45.7 billion market capitalization. Since the beginning of the year, PINS delivered a 5.61% return, extending its 12-month gains to 396.08%. As of March 24, 2021, the stock closed at $69.60 per share.

Here is what Carillon Tower Advisers has to say about Pinterest, Inc. in their Q4 2020 investor letter:

“Pinterest was a strong performer after delivering accelerating revenue growth and guiding for further acceleration next quarter. The company continues to see strong growth from both users as well as advertisers. Topics such as food, home, beauty, and fashion have been especially popular as people look for ways to entertain themselves at home during the pandemic. New tools for advertisers that can be utilized to measure reach and return on investment (ROI), and to help them upload catalogs of shop-able images, have helped drive new advertisers to the platform.”

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Our calculations show that Pinterest, Inc. (NYSE: PINS) does not belong in our list of the 30 Most Popular Stocks Among Hedge Funds. As of the end of the fourth quarter of 2020, Pinterest, Inc. was in 95 hedge fund portfolios, compared to 80 funds in the third quarter. PINS delivered a -4.64% return in the past 3 months.