Pinterest stocks (PINS) gained 28% in the third quarter
TimesSquare Capital Management, an equity investment management firm, released its third quarter letter to investors titled “US Mid Cap Growth Strategy”. A copy of it can be downloaded here. In the third quarter, the strategy returned -0.21% (net), compared to -0.65% for the Russell Midcap Growth Index. Strength in the consumer discretionary, energy, financials, industrials, information technology and materials sectors contributed to the strategy’s performance during the quarter. Additionally, please see the fund’s top five holdings for its top picks in 2022.
TimesSquare Capital highlighted stocks like Pinterest, Inc. (NYSE:PINS) in its third quarter 2022 letter to investors. San Francisco, Calif.-based Pinterest, Inc. (NYSE: PINS) is a global visual discovery platform. On December 22, 2022, Pinterest, Inc. (NYSE:PINS) stock closed at $24.72 per share. Pinterest, Inc.’s (NYSE:PINS) one-month return was -1.24% and its shares have lost 33.94% of their value over the past 52 weeks. Pinterest, Inc. (NYSE: PINS) has a market capitalization of $16.766 billion.
TimesSquare Capital made the following comment about Pinterest, Inc. (NYSE:PINS) in its Q3 2022 Letter to Investors:
“The best performances came from Pinterest, Inc. (NYSE:PINS), an image-based social media company. Their shares jumped 28% after posting second-quarter results, including online revenue and a higher level of monthly active users. The results were helped by major online retailers and international advertisers.”
Pinterest, Inc. (NYSE:PINS) is not on our list of 30 most popular stocks among hedge funds. According to our database, 68 hedge fund portfolios owned Pinterest, Inc. (NYSE:PINS) at the end of the third quarter, up from 41 in the prior quarter.
We discussed Pinterest, Inc. (NYSE:PINS) in another article and shared the best affordable stocks to invest in. Additionally, please see our Q3 2022 Hedge Fund Investor Letters Page for more letters from hedge fund investors and other leading investors.
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Disclosure: none. This article originally appeared on Insider Monkey.
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