Is it Worth Investing in Snap Inc. (SNAP)?

Baron Funds, an asset management firm, published its “Baron Opportunity Fund” fourth quarter 2021 investor letter – a copy of which can be downloaded here. An increase of 3.16% was delivered by the fund’s institutional shares for the fourth quarter of 2021 but trailed the Russell 3000 Growth Index, which increased 10.89%, and the S&P 500 Index, which climbed 11.03%. For the full year 2021, the Fund gained 12.29% but underperformed the two indexes, which advanced 25.85% and 28.71%, respective

Baron Opportunity Fund, in its Q4 2021 investor letter, mentioned Snap Inc. (NYSE:SNAP) and discussed its stance on the firm. Founded in 2010, Snap Inc. (NYSE:SNAP) is a Santa Monica, California-based camera and social media company with a $59.4 billion market capitalization, and is currently spearheaded by its CEO, Evan Spiegel. Snap Inc. (NYSE:SNAP) delivered a -23.45% return since the beginning of the year, while its 12-month returns are down by -38.31%. The stock closed at $36.00 per share on March 18, 2022.

Here is what Baron Opportunity Fund has to say about Snap Inc. (NYSE:SNAP) in its Q4 2021 investor letter:

Snap Inc. is the leading social network among teens and young adults in North America and a growing number of overseas markets, including Western Europe and India. Shares fell this quarter on a greater-thananticipated impact from Apple’s new privacy changes for iOS mobile devices. These changes made it more difficult for Snapchat to measure the effectiveness of ads shown on its platform. We believe this is a near-term, industry-wide issue for which Snap is already developing a solution. Longer term, we continue to view Snap favorably as the company sustains its rapid pace of product innovation and expands its premium partnerships with advertisers.”

Our calculations show that Snap Inc. (NYSE:SNAP) failed to obtain a mark on our list of the 30 Most Popular Stocks Among Hedge Funds. Snap Inc. (NYSE:SNAP) was in 55 hedge fund portfolios at the end of the fourth quarter of 2021, compared to 78 funds in the previous quarter. Snap Inc. (NYSE:SNAP) delivered a -20.51% return in the past 3 months.

In February 2022, we published an article that includes Snap Inc. (NYSE:SNAP) in the 10 Undervalued Stocks Hedge Funds Are Talking About. You can find more than 100 investor letters from hedge funds and prominent investors on our hedge fund investor letters 2021 Q4 page.

Disclosure: None. This article is originally published at Insider Monkey.