Should You Already Consider Disposing Your Pinterest (PINS) Shares?

Harding Loevner, an investment management firm, published its “Global Equity Fund” first-quarter 2022 investor letter – a copy of which can be downloaded here. The Global Equity Composite fell 12.4% gross of fees, well beyond the 5.3% decline of the MSCI All Country World Index. The portfolio’s concentration in expensive stocks, a hazard of its commitment to investing in the stocks of high-quality rapidly growing businesses, hurt relative performance in a quarter during which investors fled from richly priced companies. Try to spend some time taking a look at the fund’s top 5 holdings to be informed about their best picks for 2022.

In its Q1 2022 investor letter, Harding Loevner Global Equity Fund mentioned Pinterest, Inc. (NYSE:PINS) and explained its insights for the company. Founded in 2010, Pinterest, Inc. (NYSE:PINS) is a San Francisco, California-based image sharing and social media service provider with a $12.2 billion market capitalization. Pinterest, Inc. (NYSE:PINS) delivered a -49.33% return since the beginning of the year, while its 12-month returns are down by -74.10%. The stock closed at $18.42 per share on June 21, 2022.

Here is what Harding Loevner Global Equity Fund has to say about Pinterest, Inc. (NYSE:PINS) in its Q1 2022 investor letter:

“Other detractors within Communication Services included Pinterest (NYSE:PINS), which is finding it hard to sustain the extremely rapid growth they enjoyed over the past two years of pandemic lockdown and social distancing.”

Photo by ian dooley on Unsplash

Our calculations show that Pinterest, Inc. (NYSE:PINS) fell short and didn’t make it on our list of the 30 Most Popular Stocks Among Hedge Funds. Pinterest, Inc. (NYSE:PINS) was in 56 hedge fund portfolios at the end of the first quarter of 2022, compared to 57 funds in the previous quarter. Pinterest, Inc. (NYSE:PINS) delivered a -27.88% return in the past 3 months.

In April 2022, we also shared another hedge fund’s views on Pinterest, Inc. (NYSE:PINS) in another article. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters 2022 Q1 page.

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