Baird Financial Group Inc. decreased its position in shares of Snap Inc (NYSE:SNAP) by 26.2% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 101,568 shares of the company’s stock after selling 36,064 shares during the quarter. Baird Financial Group Inc.’s holdings in Snap were worth $1,330,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SNAP. FMR LLC lifted its stake in Snap by 18.4% in the 2nd quarter. FMR LLC now owns 24,968,882 shares of the company’s stock worth $326,842,000 after purchasing an additional 3,886,373 shares in the last quarter. BlackRock Inc. lifted its stake in Snap by 22.1% in the 2nd quarter. BlackRock Inc. now owns 15,367,441 shares of the company’s stock worth $201,159,000 after purchasing an additional 2,779,756 shares in the last quarter. OppenheimerFunds Inc. lifted its stake in Snap by 657.4% in the 1st quarter. OppenheimerFunds Inc. now owns 13,688,542 shares of the company’s stock worth $217,237,000 after purchasing an additional 11,881,245 shares in the last quarter. First Trust Advisors LP purchased a new stake in Snap in the 2nd quarter worth $132,330,000. Finally, Allianz Asset Management GmbH lifted its stake in Snap by 44.7% in the 1st quarter. Allianz Asset Management GmbH now owns 7,675,255 shares of the company’s stock worth $121,806,000 after purchasing an additional 2,372,137 shares in the last quarter. Institutional investors own 22.29% of the company’s stock.

Several analysts have commented on the stock. Jefferies Financial Group decreased their price target on shares of Snap to $11.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 12th. Citigroup decreased their price target on shares of Snap to $8.00 and set a “sell” rating on the stock in a research note on Wednesday, September 12th. BTIG Research reiterated a “neutral” rating on shares of Snap in a research note on Tuesday, August 7th. Zacks Investment Research cut shares of Snap from a “hold” rating to a “sell” rating in a research note on Tuesday, July 3rd. Finally, SunTrust Banks restated a “hold” rating and set a $13.00 target price on shares of Snap in a research report on Monday, August 6th. Eleven research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and eight have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $14.52.

In related news, Director Mitchell Lasky sold 25,000 shares of the company’s stock in a transaction dated Tuesday, June 26th. The shares were sold at an average price of $13.03, for a total transaction of $325,750.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Evan Spiegel sold 1,520,640 shares of the company’s stock in a transaction dated Tuesday, September 4th. The shares were sold at an average price of $10.57, for a total transaction of $16,073,164.80. Following the transaction, the chief executive officer now owns 81,400,642 shares in the company, valued at $860,404,785.94. The disclosure for this sale can be found here. Insiders have sold a total of 3,350,218 shares of company stock worth $38,102,235 over the last quarter.

Shares of NYSE:SNAP opened at $9.18 on Tuesday. The stock has a market cap of $11.75 billion, a P/E ratio of -4.41 and a beta of -2.84. Snap Inc has a 12 month low of $8.90 and a 12 month high of $21.22.

Snap (NYSE:SNAP) last issued its quarterly earnings results on Tuesday, August 7th. The company reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.32) by $0.18. The company had revenue of $262.26 million for the quarter, compared to the consensus estimate of $247.24 million. Snap had a negative net margin of 155.31% and a negative return on equity of 49.79%. equities analysts predict that Snap Inc will post -1.07 earnings per share for the current fiscal year.

Snap Profile

Snap Inc operates as a camera company in the United States and internationally. The company offers Snapchat, a camera application that helps people to communicate through short videos and images. It also provides Camera, a tool to personalize and add context to Snaps; Friends Page that allows to creating and watching stories, chatting with groups, making voice and video calls, and communicating through a range of contextual stickers and Bitmojis; and Discover that helps to surface the most interesting stories from publishers, creators, and the community, based on a user's subscriptions and interests.

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Institutional Ownership by Quarter for Snap (NYSE:SNAP)

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