3,306 Shares in Reddit, Inc. (NYSE:RDDT) Acquired by Harbour Investments Inc.

Harbour Investments Inc. purchased a new stake in shares of Reddit, Inc. (NYSE:RDDT - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 3,306 shares of the company's stock, valued at approximately $540,000.

A number of other large investors have also added to or reduced their stakes in the company. Ridgewood Investments LLC lifted its stake in Reddit by 100.0% in the fourth quarter. Ridgewood Investments LLC now owns 200 shares of the company's stock worth $33,000 after acquiring an additional 100 shares during the period. Proficio Capital Partners LLC boosted its position in shares of Reddit by 2.1% in the 4th quarter. Proficio Capital Partners LLC now owns 5,908 shares of the company's stock worth $966,000 after purchasing an additional 120 shares in the last quarter. Farther Finance Advisors LLC grew its stake in shares of Reddit by 148.5% in the fourth quarter. Farther Finance Advisors LLC now owns 246 shares of the company's stock worth $40,000 after acquiring an additional 147 shares during the last quarter. UMB Bank n.a. boosted its stake in Reddit by 10.8% in the 4th quarter. UMB Bank n.a. now owns 1,533 shares of the company's stock worth $251,000 after purchasing an additional 150 shares in the last quarter. Finally, Foundations Investment Advisors LLC grew its position in Reddit by 3.0% during the 4th quarter. Foundations Investment Advisors LLC now owns 5,325 shares of the company's stock valued at $870,000 after purchasing an additional 155 shares during the last quarter.

Reddit Stock Up 0.7 %

RDDT stock traded up $0.82 during mid-day trading on Tuesday, hitting $125.76. The company had a trading volume of 5,798,832 shares, compared to its average volume of 5,532,507. The company has a 50-day moving average price of $170.39 and a 200 day moving average price of $136.18. Reddit, Inc. has a 12-month low of $37.35 and a 12-month high of $230.41. The company has a market capitalization of $22.75 billion and a price-to-earnings ratio of -16.27.

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Reddit (NYSE:RDDT - Get Free Report) last announced its quarterly earnings results 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 return on equity of 24.71% and a negative net margin of 37.25%. As a group, analysts expect that Reddit, Inc. will post 1.12 EPS for the current year.

Insider Activity

In other Reddit news, CEO Steve Ladd Huffman sold 14,000 shares of the business's stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $201.96, for a total transaction of $2,827,440.00. Following the sale, the chief executive officer now directly owns 614,394 shares of the company's stock, valued at $124,083,012.24. The trade was a 2.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Jennifer L. Wong sold 33,333 shares of the firm's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $125.22, for a total value of $4,173,958.26. Following the completion of the sale, the chief operating officer now directly owns 1,466,119 shares of the company's stock, valued at $183,587,421.18. The trade was a 2.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 492,794 shares of company stock worth $76,482,524.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on RDDT. Redburn Atlantic began coverage on shares of Reddit in a research note on Monday, March 17th. They issued a "sell" rating and a $75.00 target price on the stock. Roth Capital downgraded Reddit from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, January 22nd. Needham & Company LLC restated a "buy" rating and issued a $220.00 price target on shares of Reddit in a research note on Friday. Citigroup reissued a "neutral" rating on shares of Reddit in a research report on Thursday, February 13th. Finally, Piper Sandler boosted their price objective on shares of Reddit from $210.00 to $220.00 and gave the company an "overweight" rating in a report on Friday, February 21st. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $162.68.

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.