290,975 Shares in Reddit, Inc. (NYSE:RDDT) Purchased by Neuberger Berman Group LLC

Neuberger Berman Group LLC bought a new stake in Reddit, Inc. (NYSE:RDDT - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 290,975 shares of the company's stock, valued at approximately $47,557,000. Neuberger Berman Group LLC owned approximately 0.17% of Reddit as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of RDDT. Plato Investment Management Ltd acquired a new position in shares of Reddit in the 4th quarter worth approximately $27,000. EverSource Wealth Advisors LLC acquired a new stake in shares of Reddit during the fourth quarter worth $28,000. Ridgewood Investments LLC lifted its position in shares of Reddit by 100.0% in the 4th 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. acquired a new position in shares of Reddit in the 4th quarter valued at about $33,000. Finally, Bogart Wealth LLC bought a new stake in shares of Reddit during the 4th quarter valued at about $33,000.

Insider Buying and Selling at Reddit

In other Reddit news, CAO Michelle Marie Reynolds sold 11,965 shares of the stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $157.41, for a total transaction of $1,883,410.65. Following the transaction, the chief accounting officer now directly owns 48,418 shares of the company's stock, valued at $7,621,477.38. This represents a 19.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Steve Ladd Huffman sold 14,000 shares of the business's stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $172.79, for a total value of $2,419,060.00. Following the completion of the sale, the chief executive officer now directly owns 614,394 shares of the company's stock, valued at $106,161,139.26. This represents a 2.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 603,794 shares of company stock valued at $89,386,704 in the last quarter.

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Reddit Stock Down 3.1 %

Shares of Reddit stock traded down $3.11 during midday trading on Monday, hitting $98.04. The company's stock had a trading volume of 3,928,911 shares, compared to its average volume of 5,494,970. The firm has a market capitalization of $17.74 billion and a P/E ratio of -12.68. Reddit, Inc. has a 1-year low of $37.35 and a 1-year high of $230.41. The stock has a 50-day simple moving average of $143.88 and a 200-day simple moving average of $140.36.

Reddit (NYSE:RDDT - Get Free Report) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $0.36 earnings per share (EPS) for the quarter, topping 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, sell-side analysts predict that Reddit, Inc. will post 1.12 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on RDDT. Roth Capital cut Reddit from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, January 22nd. Robert W. Baird raised their price target on shares of Reddit from $160.00 to $185.00 and gave the company a "neutral" rating in a research note on Thursday, February 13th. Roth Mkm downgraded Reddit from a "buy" rating to a "neutral" rating and boosted their price objective for the stock from $116.00 to $195.00 in a research report on Wednesday, January 22nd. Loop Capital reaffirmed a "buy" rating and set a $210.00 target price on shares of Reddit in a research note on Tuesday, March 11th. Finally, Guggenheim lowered their price target on Reddit from $210.00 to $170.00 and set a "buy" rating on the stock in a report on Thursday, March 20th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $149.36.

Reddit 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.