Should You Hold Pinterest (PINS)?

TimesSquare Capital Management, an equity investment management company, released its “U.S. Mid Cap Growth Strategy” fourth-quarter investor letter. A copy of the same can be downloaded here. In the fourth quarter, the strategy returned 4.18% (net), compared to 6.90% for the Russell Midcap Growth Index. For the calendar year, the strategy returned -22.13% (net) compared to the benchmark’s return of -26.72%. Weakness in Consumer Staples, Energy, Health Care, Information Technology, and Real Estate holdings led to the underperformance of the portfolio in the quarter. In addition, please check the fund’s top five holdings to know its best picks in 2022.

TimesSquare U.S. Mid Cap Growth Strategy highlighted stocks like Pinterest, Inc. (NYSE:PINS) in the Q4 2022 investor letter. Headquartered in San Francisco, California, Pinterest, Inc. (NYSE:PINS) is a global visual discovery platform. On March 31, 2023, Pinterest, Inc. (NYSE:PINS) stock closed at $27.27 per share. One-month return of Pinterest, Inc. (NYSE:PINS) was 2.21%, and its shares lost 0.47% of their value over the last 52 weeks. Pinterest, Inc. (NYSE:PINS) has a market capitalization of $18.649 billion.

TimesSquare U.S. Mid Cap Growth Strategy made the following comment about Pinterest, Inc. (NYSE:PINS) in its Q4 2022 investor letter:

“Slightly countering that decline was the 4% gain for Pinterest, Inc. (NYSE:PINS), an image-based social media company. The company posted better-than-expected third quarter results and forward guidance was in line with Street estimates. Pinterest expects significant margin improvement after a relatively heavy investment cycle.”

Photo by Souvik Banerjee on Unsplash

Pinterest, Inc. (NYSE:PINS) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 61 hedge fund portfolios held Pinterest, Inc. (NYSE:PINS) at the end of the fourth quarter which was 68 in the previous quarter.

We discussed Pinterest, Inc. (NYSE:PINS) in another article and shared the list of stocks that recently received updated price targets from analysts post earnings. In addition, please check out our hedge fund investor letters Q4 2022 page for more investor letters from hedge funds and other leading investors.

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