Brooklyn FI LLC acquired a new position in shares of Reddit, Inc. (NYSE:RDDT - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 1,854,394 shares of the company's stock, valued at approximately $303,082,000. Reddit accounts for 1.6% of Brooklyn FI LLC's holdings, making the stock its 21st biggest holding. Brooklyn FI LLC owned 1.06% of Reddit as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Plato Investment Management Ltd bought a new stake in shares of Reddit in the fourth quarter worth about $27,000. EverSource Wealth Advisors LLC bought a new position in Reddit during the 4th quarter worth about $28,000. Ridgewood Investments LLC increased its holdings in Reddit by 100.0% during the 4th quarter. Ridgewood Investments LLC now owns 200 shares of the company's stock worth $33,000 after purchasing an additional 100 shares in the last quarter. Farmers & Merchants Investments Inc. bought a new position in Reddit during the 4th quarter worth about $33,000. Finally, Bogart Wealth LLC bought a new position in Reddit during the 4th quarter worth about $33,000.
Analyst Ratings Changes
A number of equities analysts have issued reports on the company. B. Riley increased their target price on Reddit from $112.00 to $187.00 and gave the stock a "buy" rating in a report on Tuesday, January 14th. Needham & Company LLC reaffirmed a "buy" rating and issued a $220.00 target price on shares of Reddit in a research report on Friday. Redburn Atlantic assumed coverage on shares of Reddit in a research report on Monday, March 17th. They issued a "sell" rating and a $75.00 target price for the company. Seaport Res Ptn raised shares of Reddit to a "hold" rating in a research report on Thursday, February 6th. Finally, Raymond James decreased their target price on shares of Reddit from $250.00 to $200.00 and set a "strong-buy" rating for the company in a research note on Wednesday, March 12th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Reddit currently has a consensus rating of "Hold" and a consensus price target of $162.68.
Read Our Latest Stock Report on Reddit
Reddit Trading Up 6.2 %
NYSE RDDT traded up $6.71 during trading on Friday, reaching $115.46. The company's stock had a trading volume of 7,971,329 shares, compared to its average volume of 5,518,548. The firm has a market capitalization of $20.89 billion and a price-to-earnings ratio of -14.94. Reddit, Inc. has a 12 month low of $37.35 and a 12 month high of $230.41. The firm has a 50 day moving average price of $171.19 and a 200 day moving average price of $135.16.
Reddit (NYSE:RDDT - Get Free Report) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.12. Reddit had a negative net margin of 37.25% and a negative return on equity of 24.71%. On average, equities analysts forecast that Reddit, Inc. will post 1.12 EPS for the current fiscal year.
Insider Activity at Reddit
In other Reddit news, CAO Michelle Marie Reynolds sold 11,965 shares of the business's stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $157.41, for a total transaction of $1,883,410.65. Following the completion of the transaction, the chief accounting officer now owns 48,418 shares of the company's stock, valued at approximately $7,621,477.38. The trade was a 19.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Jennifer L. Wong sold 33,333 shares of the stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $125.22, for a total transaction of $4,173,958.26. Following the completion of the transaction, the chief operating officer now directly owns 1,466,119 shares of the company's stock, valued at $183,587,421.18. This trade represents a 2.22 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 503,794 shares of company stock valued at $78,350,874 over the last three months.
About Reddit
(
Free Report)
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.
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