4,700 Shares in Reddit, Inc. (NYSE:RDDT) Purchased by Monetta Financial Services Inc.

Monetta Financial Services Inc. acquired a new stake in shares of Reddit, Inc. (NYSE:RDDT - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The fund acquired 4,700 shares of the company's stock, valued at approximately $768,000.

A number of other institutional investors have also added to or reduced their stakes in RDDT. Plato Investment Management Ltd purchased a new stake in Reddit in the 4th quarter worth approximately $27,000. EverSource Wealth Advisors LLC purchased a new stake in shares of Reddit in the fourth quarter worth $28,000. Ridgewood Investments LLC raised its position in shares of Reddit by 100.0% in the fourth quarter. Ridgewood Investments LLC now owns 200 shares of the company's stock worth $33,000 after buying an additional 100 shares in the last quarter. Farmers & Merchants Investments Inc. purchased a new position in Reddit during the fourth quarter worth about $33,000. Finally, Bogart Wealth LLC purchased a new position in Reddit during the fourth quarter worth about $33,000.

Reddit Stock Performance

NYSE:RDDT traded up $0.82 during midday trading on Tuesday, reaching $125.76. 5,801,904 shares of the stock traded hands, compared to its average volume of 5,532,507. The stock has a market capitalization of $22.75 billion and a P/E ratio of -16.27. The company has a fifty day moving average of $170.39 and a 200 day moving average of $136.18. 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 issued its quarterly earnings data on Wednesday, February 12th. The company reported $0.36 EPS for the quarter, beating 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, analysts predict that Reddit, Inc. will post 1.12 EPS for the current fiscal year.

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Insider Buying and Selling at Reddit

In related news, COO Jennifer L. Wong sold 33,333 shares of Reddit stock in a transaction 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 sale, the chief operating officer now owns 1,466,119 shares in the company, valued at $183,587,421.18. The trade was a 2.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Steve Ladd Huffman sold 14,000 shares of the company's stock in a transaction 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 completion of the transaction, the chief executive officer now owns 614,394 shares of the company's stock, valued at $124,083,012.24. This trade represents a 2.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 492,794 shares of company stock valued at $76,482,524 in the last 90 days.

Analyst Ratings Changes

A number of brokerages have recently issued reports on RDDT. JPMorgan Chase & Co. lifted their price target on Reddit from $142.00 to $185.00 and gave the company a "neutral" rating in a research report on Thursday, February 13th. Piper Sandler boosted their price target on shares of Reddit from $210.00 to $220.00 and gave the stock an "overweight" rating in a research note on Friday, February 21st. Robert W. Baird raised their price objective on shares of Reddit from $160.00 to $185.00 and gave the company a "neutral" rating in a research report on Thursday, February 13th. Seaport Res Ptn raised shares of Reddit to a "hold" rating in a report on Thursday, February 6th. Finally, Loop Capital reissued a "buy" rating and issued a $210.00 target price on shares of Reddit in a research note on Tuesday, March 11th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $162.68.

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.