Here’s Why Carillon Tower Advisers Remains Optimistic in Pinterest (PINS)

Carillon Tower Advisers, an investment management firm, published its “Carillon Eagle Mid Cap Growth Fund” fourth quarter 2021 investor letter – a copy of which can be downloaded here. Mid-cap stocks overall posted solid gains in the final quarter of 2021. As was the case for the majority of the year, the Russell Midcap® Growth Index (up 2.85%) lagged behind its Russell Midcap® Value Index (up 8.54%) counterpart. Spare some time to check the fund’s top 5 holdings to have a clue about their top bets for 2022.

Carillon Tower Advisers, in its Q4 2021 investor letter, mentioned Pinterest, Inc. (NYSE: PINS) and discussed its stance on the firm. Pinterest, Inc. is a San Francisco, California-based technology company with a $17.6 billion market capitalization. PINS delivered a -26.27% return since the beginning of the year, while its 12-month returns are down by -66.96%. The stock closed at $26.80 per share on February 09, 2022.

Here is what Carillon Tower Advisers has to say about Pinterest, Inc. in its Q4 2021 investor letter:

“Pinterest’s pinboard-style social media platform enables users to create theme-based image collections for events, hobbies, and other personal interests. The firm delivered solid revenue growth in the quarter, but issued disappointing forward guidance. User growth has been lackluster as of late when compared with the previous strong growth during the earlier stages of the pandemic. These trends should stabilize and are being somewhat offset by price increases on advertisements. We continue to like the firm’s shift toward e-commerce, increasing user-generated video content, and international growth opportunities.”

Photo by Szabo Viktor on Unsplash

Our calculations show that Pinterest, Inc. (NYSE: PINS) failed to obtain a mark on our list of the 30 Most Popular Stocks Among Hedge Funds. PINS was in 58 hedge fund portfolios at the end of the third quarter of 2021, compared to 63 funds in the previous quarter. Pinterest, Inc. (NYSE: PINS)delivered a -41.56% return in the past 3 months.

In January 2022, we also shared another hedge fund’s views on PINS in another article. You can find other letters from hedge funds and prominent investors on our hedge fund investor letters 2021 Q4 page.

Disclosure: None. This article is originally published at Insider Monkey.