Top 10 Stock Picks of Elliott Management

4. Pinterest Inc (NYSE:PINS)

Elliott Management’s Stake Value: $970.76 Million

Number of Hedge Fund Holders: 64

Pinterest Inc (NYSE:PINS) is an image-sharing and social media services company and one of the top 10 holdings of Elliott Management, offering exposure in the communication services sector. The hedge fund first got involved in Pinterest Inc (NYSE:PINS) in 2022, becoming its largest shareholder. With the investment, the firm launched an activist campaign to improve the struggling company’s operations.

While Pinterest Inc (NYSE:PINS) is up by about 4% in 2024, it has come under pressure on Grizzly Research, releasing a short report on the company insisting that it misleadingly reports its performance statistics. The research firm insists the company is declining in its key markets and insists the stock should trade between $5.28 and $16 per share.

Pinterest Inc (NYSE:PINS) attracted 64 hedge funds out of the 920 that Insider Monkey tracks in the March quarter of 2024.