From Yahoo Finance: 2025-03-28 07:49:00

Renaissance Investment Management’s Q4 2024 investor letter highlights a strong performance of US stocks, with the S&P 500 rising for the fifth consecutive quarter. The Russell 1000 Growth gained +7.1% in the fourth quarter, outperforming the S&P 500. Large-cap and growth stocks performed well, driven by mega-cap tech companies.

Pinterest, Inc. (NYSE:PINS) was a key focus in Renaissance’s investor letter, as the visual search platform saw a -12.82% one-month return. The stock closed at $32.24 per share on March 27, 2025, with a market cap of $21.866 billion. The company has undergone transformation under new management, emphasizing AI and improved monetization.

Renaissance’s investment strategy includes Pinterest, Inc. (NYSE:PINS) in its top holdings, citing the company’s shift to a shopping platform and increased value for advertisers. The focus on AI and personalized advertising is expected to drive growth in user engagement and revenue. The strategy aims to capitalize on Pinterest’s potential in new markets and categories.

Pinterest, Inc. (NYSE:PINS) ranks 12th among hedge funds’ top stock picks, with 73 portfolios holding the stock in Q4 2024. The company reported $1.154 billion in revenue for the quarter, reflecting an 18% increase year-over-year. While Pinterest shows promise, the emphasis on AI stocks for higher returns is highlighted by hedge fund strategies.

Read more: Here’re the Reasons to Invest in Pinterest (PINS)