American Century Companies Inc. Invests $1.40 Million in Reddit, Inc. (NYSE:RDDT)

American Century Companies Inc. acquired a new position in Reddit, Inc. (NYSE:RDDT - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 8,536 shares of the company's stock, valued at approximately $1,395,000.

A number of other institutional investors have also recently bought and sold shares of the business. Plato Investment Management Ltd acquired a new position in shares of Reddit in the fourth quarter worth $27,000. EverSource Wealth Advisors LLC acquired a new position in Reddit in the 4th quarter worth about $28,000. Ridgewood Investments LLC increased its position in Reddit by 100.0% in the 4th quarter. Ridgewood Investments LLC now owns 200 shares of the company's stock worth $33,000 after purchasing an additional 100 shares during the last quarter. Farmers & Merchants Investments Inc. purchased a new stake in shares of Reddit during the 4th quarter worth about $33,000. Finally, Bogart Wealth LLC acquired a new stake in shares of Reddit during the 4th quarter valued at about $33,000.

Reddit Stock Down 3.2 %

Shares of RDDT stock traded down $3.21 during mid-day trading on Monday, reaching $97.94. The stock had a trading volume of 2,352,666 shares, compared to its average volume of 5,488,989. Reddit, Inc. has a one year low of $37.35 and a one year high of $230.41. The firm has a market cap of $17.72 billion and a PE ratio of -12.67. The firm's 50 day simple moving average is $143.88 and its 200 day simple moving average is $140.36.

Reddit (NYSE:RDDT - Get Free Report) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $0.36 earnings per share for the quarter, topping analysts' consensus estimates of $0.24 by $0.12. Reddit had a negative net margin of 37.25% and a negative return on equity of 24.71%. Sell-side analysts forecast that Reddit, Inc. will post 1.12 earnings per share for the current fiscal year.

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Insider Activity

In other news, CEO Steve Ladd Huffman sold 14,000 shares of the stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $172.79, for a total transaction of $2,419,060.00. Following the sale, the chief executive officer now owns 614,394 shares in the company, valued at approximately $106,161,139.26. This represents a 2.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director David C. Habiger purchased 774 shares of the business's stock in a transaction that occurred on Wednesday, March 12th. The stock was acquired at an average cost of $130.36 per share, with a total value of $100,898.64. Following the completion of the acquisition, the director now directly owns 30,808 shares of the company's stock, valued at $4,016,130.88. The trade was a 2.58 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have sold 603,794 shares of company stock worth $89,386,704.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on RDDT shares. Needham & Company LLC restated a "buy" rating and issued a $220.00 price objective on shares of Reddit in a report on Friday, March 21st. JMP Securities set a $155.00 price target on shares of Reddit in a research note on Friday, March 28th. Wells Fargo & Company reduced their price objective on shares of Reddit from $215.00 to $158.00 and set an "overweight" rating for the company in a research note on Monday, March 31st. Redburn Partners set a $75.00 price objective on shares of Reddit in a report on Monday, March 17th. Finally, Loop Capital restated a "buy" rating and set a $210.00 target price on shares of Reddit in a report on Tuesday, March 11th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Reddit has a consensus rating of "Moderate Buy" and an average price target of $151.73.

About Reddit

Reddit, Inc operates a website that organizes digital communities. It organizes communities based on specific interests that enable users to engage in conversations by sharing experiences, submitting links, uploading images and videos, and replying to one another. The company was founded in 2005 and is headquartered in San Francisco, California.