Bamco Inc. NY lowered its stake in Snap Inc. (NYSE:SNAP) by 33.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 66,404 shares of the company’s stock after selling 33,596 shares during the period. Bamco Inc. NY’s holdings in Snap were worth $1,180,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Coatue Management LLC raised its holdings in Snap by 4.5% during the 2nd quarter. Coatue Management LLC now owns 21,898,624 shares of the company’s stock valued at $389,139,000 after buying an additional 940,900 shares during the last quarter. BlackRock Inc. boosted its position in Snap by 10.0% during the 2nd quarter. BlackRock Inc. now owns 10,343,549 shares of the company’s stock valued at $183,805,000 after buying an additional 936,791 shares during the period. Vanguard Group Inc. boosted its position in Snap by 23.7% during the 2nd quarter. Vanguard Group Inc. now owns 8,353,729 shares of the company’s stock valued at $148,446,000 after buying an additional 1,601,170 shares during the period. General Atlantic LLC purchased a new stake in Snap during the 1st quarter valued at $110,010,000. Finally, Dragoneer Investment Group LLC purchased a new stake in Snap during the 1st quarter valued at $70,970,000. Hedge funds and other institutional investors own 16.40% of the company’s stock.

A number of equities analysts have issued reports on SNAP shares. J P Morgan Chase & Co restated a “neutral” rating and issued a $14.00 price objective (down previously from $16.00) on shares of Snap in a research report on Monday, September 25th. Wedbush initiated coverage on shares of Snap in a report on Wednesday, August 30th. They set a “neutral” rating and a $12.00 target price for the company. Vetr upgraded shares of Snap from a “sell” rating to a “hold” rating and set a $13.95 target price for the company in a report on Tuesday, July 25th. Monness Crespi & Hardt cut Snap from a “buy” rating to a “neutral” rating in a research note on Friday, August 11th. Finally, Deutsche Bank AG cut Snap from a “buy” rating to a “hold” rating and cut their target price for the stock from $20.00 to $17.00 in a research note on Monday, September 11th. Ten analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and twelve have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $18.21.

In other Snap news, CFO Andrew Vollero sold 195,100 shares of the firm’s stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $12.50, for a total value of $2,438,750.00. Following the completion of the sale, the chief financial officer now owns 1,882,280 shares of the company’s stock, valued at $23,528,500. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Imran Khan sold 150,000 shares of the firm’s stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $12.50, for a total value of $1,875,000.00. Following the completion of the sale, the insider now directly owns 9,596,464 shares of the company’s stock, valued at approximately $119,955,800. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,733,598 shares of company stock worth $23,764,362.

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Snap Inc. (SNAP) opened at 14.64 on Wednesday. Snap Inc. has a 52 week low of $11.28 and a 52 week high of $29.44. The stock has a 50 day moving average of $14.45 and a 200 day moving average of $17.63. The company’s market cap is $17.53 billion.

Snap (NYSE:SNAP) last released its quarterly earnings results on Thursday, August 10th. The company reported ($0.36) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.29) by ($0.07). The business had revenue of $181.70 million for the quarter, compared to analyst estimates of $186.49 million. The firm’s revenue for the quarter was up 153.1% compared to the same quarter last year. On average, analysts expect that Snap Inc. will post ($0.64) earnings per share for the current year.

About Snap

Snap Inc, formerly Snapchat, Inc, is a camera company. The Company’s flagship product, Snapchat, is a camera application that helps people to communicate through short videos and images known as a Snap. The Company offers three ways for people to make Snaps: the Snapchat application, Publishers Tools that help its partners to create Publisher Stories, and Spectacles, its sunglasses that make Snaps.

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Institutional Ownership by Quarter for Snap (NYSE:SNAP)

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