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Harding Loevner, an investment management firm, published its “Global Equity Fund” third-quarter 2021 investor letter – a copy of which can be downloaded here. A return of -1.31% was recorded by the fund for the third quarter of 2021, trailing its Benchmark, the MSCI World Index, which returned 0.09% for the same period. You can take a look at the fund’s top 5 holdings to have an idea about their best picks for 2021.
Harding Loevner Global Equity Fund, in its Q3 2021 investor letter, mentioned Pinterest, Inc. (NYSE: PINS) and discussed its stance on the firm. Pinterest, Inc. is a San Francisco, California-based technology company with a $23.3 billion market capitalization. PINS delivered a -45.61% return since the beginning of the year, while its 12-month returns are down by -46.75%. The stock closed at $35.84 per share on December 03, 2021.
Here is what Harding Loevner Global Equity Fund has to say about Pinterest, Inc. in its Q3 2021 investor letter:
"Within the latter sector, US-listed social media site Pinterest also detracted. The company announced results at the end of July that showed large gains in revenue and profitability but a decline in active users, prompting questions about how much of its recent increase in sales will prove to have been pandemic-related."
Based on our calculations, Pinterest, Inc. (NYSE: PINS) was not able to clinch a spot in our list of the 30 Most Popular Stocks Among Hedge Funds. PINS was in 58 hedge fund portfolios at the end of the third quarter of 2021, compared to 63 funds in the previous quarter. Pinterest, Inc. (NYSE: PINS) delivered a -36.67% return in the past 3 months.
Disclosure: None. This article is originally published at Insider Monkey.