Is it Still Worthy to Invest in Pinterest (PINS)?

ClearBridge Investments, an investment management firm, published its “Mid Cap Growth Strategy” fourth quarter 2021 investor letter – a copy of which can be downloaded here. During the fourth quarter, the ClearBridge Mid Cap Growth Strategy outperformed its Russell Midcap Growth benchmark. On an absolute basis, the Strategy had gains across eight of the 10 sectors in which it was invested during the quarter (out of 11 sectors total), with the IT sector the leading contributor, while the consumer discretionary sector was the primary detractor. Spare some time to check the fund’s top 5 holdings to have a clue about their top bets for 2022.

ClearBridge Investments Mid Cap Growth Strategy, in its Q4 2021 investor letter, mentioned Pinterest, Inc. (NYSE:PINS) and discussed its stance on the firm. Founded in 2008, Pinterest, Inc. (NYSE:PINS) is a San Francisco, California-based technology company with a $17.1 billion market capitalization, and is currently spearheaded by its CEO, Ben Silbermann. Pinterest, Inc. (NYSE:PINS) delivered a -28.12% return since the beginning of the year, while its 12-month returns are down by -68.82%. The stock closed at $26.13 per share on April 05, 2022.

Here is what ClearBridge Investments Mid Cap Growth Strategy has to say about Pinterest, Inc. (NYSE:PINS) in its Q4 2021 investor letter:

“Pinterest, meanwhile, was hurt by sluggish user growth as it faced tough year-over-year comps from a surge in activity during the throes of the pandemic. We expect the social media sharing platform to continue to innovate as it seeks ways to augment existing revenue streams.”

Photo by ian dooley 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. Pinterest, Inc. (NYSE:PINS) was in 57 hedge fund portfolios at the end of the fourth quarter of 2021, compared to 58 funds in the previous quarter. Pinterest, Inc. (NYSE:PINS) delivered a -20.43% return in the past 3 months.

In February 2022, we also shared another hedge fund’s views on Pinterest, Inc. (NYSE: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.