5 Software Stocks to Sell Now According to Cathie Wood

3. Pinterest, Inc. (NYSE:PINS)

Number of Hedge Fund Holders: 57

Percentage Decrease in Stake in Q4: 100%  

Pinterest, Inc. (NYSE:PINS) owns and runs a visual discovery engine. Pinterest, Inc. (NYSE:PINS) had been in the ARK portfolio since the third quarter of 2019. The fund reduced the holding during the first three quarters of 2021 and sold it off completely between October and December. 

Among the hedge funds being tracked by Insider Monkey, New York-based investment firm DE Shaw is a leading shareholder in Pinterest, Inc. (NYSE:PINS), with 4.4 million shares worth more than $163 million. 

In its Q1 2021 investor letter, Carillon Tower Advisers, an asset management firm, highlighted a few stocks and Pinterest, Inc. (NYSE:PINS) was one of them. Here is what the fund said:

“Pinterest is an operator of a pinboard-style social media website that enables users to create theme-based image collections for events, hobbies, and other personal interests. The firm delivered another quarter of both earnings and forward guidance above investor expectations, sending shares higher. Strength was driven by notable user growth and a return of advertising spending. We remain excited about an increase in video content, new analytics tools for advertisers, and an increasing shift towards ecommerce.”