State of Tennessee Treasury Department bought a new stake in Snap Inc. (NYSE:SNAP) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 629,112 shares of the company’s stock, valued at approximately $9,147,000. State of Tennessee Treasury Department owned approximately 0.05% of Snap as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Pacer Advisors Inc. raised its holdings in Snap by 8.3% in the 2nd quarter. Pacer Advisors Inc. now owns 9,869 shares of the company’s stock valued at $175,000 after acquiring an additional 757 shares during the last quarter. Private Advisor Group LLC raised its holdings in Snap by 6.7% in the 2nd quarter. Private Advisor Group LLC now owns 22,293 shares of the company’s stock valued at $379,000 after acquiring an additional 1,393 shares during the last quarter. NN Investment Partners Holdings N.V. raised its holdings in Snap by 6.3% in the 2nd quarter. NN Investment Partners Holdings N.V. now owns 42,406 shares of the company’s stock valued at $754,000 after acquiring an additional 2,530 shares during the last quarter. WFG Advisors LP raised its holdings in Snap by 52.4% in the 2nd quarter. WFG Advisors LP now owns 7,377 shares of the company’s stock valued at $131,000 after acquiring an additional 2,537 shares during the last quarter. Finally, Oppenheimer & Co. Inc. raised its holdings in Snap by 21.1% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 19,816 shares of the company’s stock valued at $352,000 after acquiring an additional 3,447 shares during the last quarter. 17.29% of the stock is currently owned by hedge funds and other institutional investors.

In other news, CFO Andrew Vollero sold 195,100 shares of the stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $12.50, for a total transaction of $2,438,750.00. Following the transaction, 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 Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Timothy Sehn sold 400,000 shares of the stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $12.50, for a total transaction of $5,000,000.00. Following the transaction, the vice president now directly owns 2,204,168 shares in the company, valued at approximately $27,552,100. The disclosure for this sale can be found here. Insiders have sold 2,533,598 shares of company stock worth $35,540,362 in the last ninety days.

A number of analysts have recently commented on SNAP shares. Oppenheimer Holdings, Inc. dropped their price objective on Snap from $16.00 to $14.00 and set an “outperform” rating for the company in a report on Wednesday. Aegis dropped their price objective on Snap from $15.00 to $13.00 and set a “hold” rating for the company in a report on Wednesday. Cowen and Company restated a “hold” rating and set a $12.00 price objective on shares of Snap in a report on Friday. Barclays PLC dropped their price objective on Snap from $13.00 to $11.00 and set an “equal weight” rating for the company in a report on Wednesday. Finally, Stifel Nicolaus downgraded Snap from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $18.00 to $13.00 in a report on Wednesday. Fifteen analysts have rated the stock with a sell rating, twenty have assigned a hold rating and twelve have assigned a buy rating to the stock. Snap has an average rating of “Hold” and a consensus target price of $17.12.

Snap Inc. (SNAP) opened at $12.76 on Friday. Snap Inc. has a 12-month low of $11.28 and a 12-month high of $29.44.

Snap (NYSE:SNAP) last issued its quarterly earnings results on Tuesday, November 7th. The company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.31) by $0.17. The company had revenue of $207.90 million for the quarter, compared to the consensus estimate of $236.71 million. The firm’s revenue for the quarter was up 62.2% compared to the same quarter last year. research analysts predict that Snap Inc. will post -2.83 earnings per share for the current year.

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Snap Profile

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.

Institutional Ownership by Quarter for Snap (NYSE:SNAP)

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