Reddit, Inc. (NYSE:RDDT) Shares Bought by Nebula Research & Development LLC

Nebula Research & Development LLC raised its position in Reddit, Inc. (NYSE:RDDT - Free Report) by 155.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,170 shares of the company's stock after buying an additional 6,796 shares during the quarter. Nebula Research & Development LLC's holdings in Reddit were worth $1,826,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. Plato Investment Management Ltd acquired a new position in shares of Reddit in the 4th quarter valued at $27,000. EverSource Wealth Advisors LLC acquired a new position in shares of Reddit in the 4th quarter valued at $28,000. Ridgewood Investments LLC increased its holdings in shares of Reddit by 100.0% in the 4th quarter. Ridgewood Investments LLC now owns 200 shares of the company's stock valued at $33,000 after acquiring an additional 100 shares during the period. Farmers & Merchants Investments Inc. acquired a new position in shares of Reddit in the 4th quarter valued at $33,000. Finally, Bogart Wealth LLC acquired a new position in Reddit in the 4th quarter valued at $33,000.

Insider Buying and Selling at Reddit

In other Reddit news, CEO Steve Ladd Huffman sold 14,000 shares of the company's stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $201.96, for a total value of $2,827,440.00. Following the transaction, the chief executive officer now directly owns 614,394 shares in the company, valued at approximately $124,083,012.24. This represents a 2.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Christopher Brian Slowe sold 5,068 shares of the company's stock in a transaction dated Thursday, April 24th. The shares were sold at an average price of $111.28, for a total transaction of $563,967.04. Following the completion of the transaction, the chief technology officer now owns 20,184 shares in the company, valued at approximately $2,246,075.52. This trade represents a 20.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 725,270 shares of company stock worth $97,067,425.

Reddit Price Performance

NYSE:RDDT traded up $3.06 on Monday, reaching $121.16. The stock had a trading volume of 8,879,364 shares, compared to its average volume of 5,617,844. The company has a market cap of $21.92 billion and a price-to-earnings ratio of -15.67. The firm's fifty day moving average is $120.74 and its two-hundred day moving average is $142.98. Reddit, Inc. has a 12-month low of $44.15 and a 12-month high of $230.41.

Reddit (NYSE:RDDT - Get Free Report) last released its earnings results on Wednesday, February 12th. The company reported $0.36 earnings per share (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, research analysts forecast that Reddit, Inc. will post 1.12 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have issued reports on RDDT. Redburn Partners set a $75.00 price objective on shares of Reddit in a research note on Monday, March 17th. Wells Fargo & Company dropped their price objective on shares of Reddit from $215.00 to $158.00 and set an "overweight" rating on the stock in a research note on Monday, March 31st. 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 price objective on the stock. Seaport Res Ptn raised shares of Reddit to a "hold" rating in a research note on Thursday, February 6th. Finally, Roth Mkm cut shares of Reddit from a "buy" rating to a "neutral" rating and boosted their price objective for the company from $116.00 to $195.00 in a research note on Wednesday, January 22nd. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Reddit currently has a consensus rating of "Moderate Buy" and an average price target of $142.22.

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.