FMR LLC & Abigail Johnson Report 14.999% Stake in Snap Inc.

TL;DR

**FMR LLC and Abigail Johnson still own nearly 15% of Snap Inc. Class A shares.**

AI Summary

FMR LLC, a major investment management firm, and its CEO, Abigail P. Johnson, have updated their ownership stake in Snap Inc. (SNAP) Class A Common Stock. As of February 9, 2024, they collectively beneficially own 209,171,777 shares, representing 14.999% of the company. This filing indicates a significant, but slightly reduced, passive investment by a major institutional holder, which could influence investor sentiment and the stock's perceived stability.

Why It Matters

This filing shows that a large institutional investor, FMR LLC, and its leader, Abigail P. Johnson, maintain a substantial, albeit slightly adjusted, passive stake in Snap Inc., which can signal confidence or a shift in strategy to other investors.

Risk Assessment

Risk Level: low — This is a routine amendment by a passive institutional investor, indicating no immediate significant risk or change in company control.

Analyst Insight

A smart investor would note that a major institutional investor like FMR LLC continues to hold a significant, passive stake in Snap Inc., suggesting long-term interest without active control. This could be a positive signal for stability, but doesn't indicate any immediate catalysts for price movement.

Key Numbers

• 209,171,777 — Shares Beneficially Owned (Total Class A Common Stock shares owned by FMR LLC and Abigail P. Johnson)
• 14.999% — Percent of Class (Percentage of Snap Inc. Class A Common Stock beneficially owned by FMR LLC and Abigail P. Johnson)
• 0 — Sole Voting Power (Abigail P. Johnson) (Number of shares Abigail P. Johnson has sole power to vote or direct the vote)
• 201,486,770 — Sole Voting Power (FMR LLC) (Number of shares FMR LLC has sole power to vote or direct the vote)

Key Players & Entities

• FMR LLC (company) — reporting person and parent holding company
• Abigail P. Johnson (person) — reporting person, likely CEO of FMR LLC
• Snap Inc. (company) — the issuer of the securities
• 06 Technology (company) — organization name associated with Snap Inc.

Forward-Looking Statements

• FMR LLC will maintain a significant, passive stake in Snap Inc. for the foreseeable future. (FMR LLC) — high confidence, target: 2025-02-09
• The substantial institutional ownership by FMR LLC will continue to provide a baseline of stability for Snap Inc.'s stock. (Snap Inc.) — medium confidence, target: 2024-12-31

FAQ

From the Filing

0000315066-24-001438.txt : 20240209 0000315066-24-001438.hdr.sgml : 20240209 20240209094930 ACCESSION NUMBER: 0000315066-24-001438 CONFORMED SUBMISSION TYPE: SC 13G/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20240209 DATE AS OF CHANGE: 20240209 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: Snap Inc CENTRAL INDEX KEY: 0001564408 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-COMPUTER PROGRAMMING, DATA PROCESSING, ETC. [7370] ORGANIZATION NAME: 06 Technology IRS NUMBER: 455452795 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-90293 FILM NUMBER: 24612029 BUSINESS ADDRESS: STREET 1: 3000 31ST STREET CITY: SANTA MONICA STATE: CA ZIP: 90405 BUSINESS PHONE: (310) 399-3339 MAIL ADDRESS: STREET 1: 3000 31ST STREET CITY: SANTA MONICA STATE: CA ZIP: 90405 FORMER COMPANY: FORMER CONFORMED NAME: Snapchat Inc DATE OF NAME CHANGE: 20121211 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: FMR LLC CENTRAL INDEX KEY: 0000315066 STANDARD INDUSTRIAL CLASSIFICATION: UNKNOWN SIC - 0000 [0000] ORGANIZATION NAME: IRS NUMBER: 043532603 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A BUSINESS ADDRESS: STREET 1: 245 SUMMER STREET CITY: BOSTON STATE: MA ZIP: 02210 BUSINESS PHONE: 6175706339 MAIL ADDRESS: STREET 1: 245 SUMMER STREET CITY: BOSTON STATE: MA ZIP: 02210 FORMER COMPANY: FORMER CONFORMED NAME: FMR CORP DATE OF NAME CHANGE: 19920717 SC 13G/A 1 filing.txt SCHEDULE 13G Amendment No.2 SNAP INC CLASS A COMMON STOCK Cusip #83304A106 Check the appropriate box to designate the rule pursuant to which this Schedule is filed: [x] Rule 13d-1(b) [ ] Rule 13d-1(c) [ ] Rule 13d-1(d) Cusip #83304A106 Item 1: Reporting Person - FMR LLC Item 2: (a) [ ] (b) [ ] Item 4: Delaware Item 5: 201,486,770 Item 6: 0 Item 7: 209,171,777 Item 8: 0 Item 9: 209,171,777 Item 11: 14.999% Item 12: HC Cusip #83304A106 Item 1: Reporting Person - Abigail P. Johnson Item 2: (a) [ ] (b) [ ] Item 4: United States of America Item 5: 0 Item 6: 0 Item 7: 209,171,777 Item 8: 0 Item 9: 209,171,777 Item 11: 14.999% Item 12: IN Item 1(a). Name of Issuer: SNAP INC Item 1(b). Address of Issuer's Principal Executive Offices: 3000 31ST STREET SANTA MONICA, CA 90405 USA Item 2(a). Name of Person Filing: FMR LLC Item 2(b). Address or Principal Business Office or, if None, Residence: 245 Summer Street, Boston, Massachusetts 02210 Item 2(c). Citizenship: Not applicable Item 2(d). Title of Class of Securities: CLASS A COMMON STOCK Item 2(e). CUSIP Number: 83304A106 Item 3. This statement is filed pursuant to Rule 13d-1(b) or 13d-2(b) or (c) and the person filing, FMR LLC, is a parent holding company in accordance with Section 240.13d-1(b)(1)(ii)(G). (Note: See Exhibit A). Item 4. Ownership (a) Amount Beneficially Owned: 209,171,777 (b) Percent of Class: 14.999% (c) Number of shares as to which such person has: (i) sole power to vote or to direct the vote: Please see the responses to Items 5 and 6 on the cover page (ii) shared power to vote or to direct the vote: 0 (iii) sole power to dispose or to direct the disposition of: 209,171,777 (iv) shared power to dispose or to direct the disposition of: 0 Item 5. Ownership of Five Percent or Less of a Class. Not applicable. Item 6. Ownership of More than Five Percent on Behalf of Another Person. One or more other persons are known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the CLASS A COMMON STOCK of SNAP INC. The interest of Fidelity Blue Chip Growth Fund, in the CLASS A COMMON STOCK of SNAP INC, amounted to 77,789,087 shares or 5.578% of the total outstanding CLASS A COMMON STOCK at December 29, 2023. Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company. See attached Exhibit A. Item 8. Identification and Classification of Members of the Group. Not applicable. Item 9. Notice of Dissol