What happened

Shares of Snap Inc. (NYSE:SNAP) climbed 8.4% on Monday after Securities and Exchange Commission filings revealed significant stakes in the company owned by several notable institutional investors at the end of last quarter. 

So what

According to these quarterly regulatory 13-F filings -- which reveal holdings as of the end of March 2017 -- among those who owned stakes in the recently IPO'd social media company included Fidelity, Blackrock, Daniel Loeb's Third Point Management, Daniel Och's Och-Ziff Capital Management, Goldman Sachs, Soros Fund Management, and Jana Partners.

Teenagers using smartphones


Now what

Keep in mind that those holdings are only a snapshot in time, and we can't tell whether any or all of those investors have sold their shares since the end of last quarter. And besides, any decision to buy, sell, or hold Snap stock may have been understandably changed by its painful first earnings release as a public company last week, which sent Snap shares down more than 20% in a single day.

To that end, today's rebound could also reflect opportunistic investors taking advantage of that decline. After all, though Snap's top and bottom lines fell short of expectations last quarter, and though it added an underwhelming 8 million daily active users in the period, Snap also enjoys a significant potential catalyst with its advertising business still in its early stages of growth. 

But if one thing is clear, it's that retail investors should not take their cues from the already dated holdings information contained in the aforementioned regulatory filings. 

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. We’re motley! Questioning an investing thesis -- even one of our own -- helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.