F M Investments LLC Makes New Investment in Reddit, Inc. (NYSE:RDDT)

F M Investments LLC acquired a new position in shares of Reddit, Inc. (NYSE:RDDT - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 14,553 shares of the company's stock, valued at approximately $2,379,000.

Several other large investors also recently bought and sold shares of RDDT. The Manufacturers Life Insurance Company purchased a new stake in shares of Reddit during the third quarter worth approximately $1,053,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in Reddit during the 3rd quarter worth $2,724,000. HighTower Advisors LLC grew its holdings in shares of Reddit by 154.0% during the third quarter. HighTower Advisors LLC now owns 11,699 shares of the company's stock worth $770,000 after buying an additional 7,094 shares in the last quarter. Janus Henderson Group PLC acquired a new stake in shares of Reddit in the third quarter valued at about $712,000. Finally, State Street Corp lifted its stake in shares of Reddit by 189.3% in the third quarter. State Street Corp now owns 322,321 shares of the company's stock worth $21,247,000 after buying an additional 210,921 shares in the last quarter.

Insider Buying and Selling at Reddit

In other news, CEO Steve Ladd Huffman sold 14,000 shares of the business's stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $172.79, for a total transaction of $2,419,060.00. Following the completion of the sale, the chief executive officer now owns 614,394 shares in the company, valued at approximately $106,161,139.26. The trade was a 2.23 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Benjamin Seong Lee sold 92,299 shares of the stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $157.35, for a total transaction of $14,523,247.65. Following the completion of the transaction, the insider now directly owns 115,001 shares in the company, valued at $18,095,407.35. This trade represents a 44.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 603,794 shares of company stock worth $89,386,704 over the last ninety days.

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Reddit Price Performance

Shares of RDDT stock traded down $3.11 during trading hours on Monday, reaching $98.04. 3,936,259 shares of the stock were exchanged, compared to its average volume of 5,495,021. The business's fifty day moving average is $143.88 and its two-hundred day moving average is $140.36. The firm has a market capitalization of $17.74 billion and a P/E ratio of -12.68. Reddit, Inc. has a 12-month low of $37.35 and a 12-month high of $230.41.

Reddit (NYSE:RDDT - Get Free Report) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $0.36 EPS for the quarter, beating 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%. As a group, equities research analysts predict that Reddit, Inc. will post 1.12 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on RDDT. Redburn Partners set a $75.00 price target on Reddit in a research report on Monday, March 17th. Truist Financial initiated coverage on Reddit in a research note on Monday, April 7th. They issued a "buy" rating and a $150.00 target price for the company. JMP Securities set a $155.00 price target on shares of Reddit in a research report on Friday, March 28th. Citigroup dropped their price objective on shares of Reddit from $220.00 to $150.00 and set a "buy" rating for the company in a report on Monday. Finally, B. Riley lifted their target price on shares of Reddit from $112.00 to $187.00 and gave the stock a "buy" rating in a research note on Tuesday, January 14th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $146.18.

Reddit Company Profile

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.