Natixis Advisors LLC Purchases New Holdings in Reddit, Inc. (NYSE:RDDT)

Natixis Advisors LLC acquired a new position in Reddit, Inc. (NYSE:RDDT - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 15,595 shares of the company's stock, valued at approximately $2,549,000.

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

Insider Activity

In related news, COO Jennifer L. Wong sold 33,333 shares of the firm's stock in a transaction that occurred on 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 transaction, the chief operating officer now owns 1,466,119 shares in the company, valued at $183,587,421.18. This trade represents a 2.22 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Andrew Vollero sold 48,122 shares of the business's stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $162.80, for a total value of $7,834,261.60. Following the completion of the sale, the chief financial officer now owns 599,295 shares of the company's stock, valued at approximately $97,565,226. This represents a 7.43 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 492,794 shares of company stock worth $76,482,524.

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Reddit Stock Performance

Shares of NYSE:RDDT traded down $2.84 during trading hours on Tuesday, reaching $122.11. The stock had a trading volume of 3,765,771 shares, compared to its average volume of 7,325,721. Reddit, Inc. has a 1 year low of $37.35 and a 1 year high of $230.41. The firm's 50 day moving average is $170.39 and its 200-day moving average is $136.18. The stock has a market capitalization of $22.09 billion and a price-to-earnings ratio of -15.80.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Raymond James dropped their price objective on shares of Reddit from $250.00 to $200.00 and set a "strong-buy" rating for the company in a report on Wednesday, March 12th. Loop Capital restated a "buy" rating and set a $210.00 price target on shares of Reddit in a report on Tuesday, March 11th. Needham & Company LLC reaffirmed a "buy" rating and set a $220.00 price target on shares of Reddit in a research report on Friday. JMP Securities raised their target price on Reddit from $190.00 to $200.00 and gave the stock a "market outperform" rating in a research note on Thursday, February 13th. Finally, Guggenheim decreased their price target on Reddit from $210.00 to $170.00 and set a "buy" rating on the stock in a research note on Thursday, March 20th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Reddit presently has an average rating of "Hold" and a consensus price target 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.