2,475 Shares in Reddit, Inc. (NYSE:RDDT) Acquired by Northwest & Ethical Investments L.P.

Northwest & Ethical Investments L.P. purchased a new position in shares of Reddit, Inc. (NYSE:RDDT - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 2,475 shares of the company's stock, valued at approximately $404,000.

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

Analysts Set New Price Targets

RDDT has been the subject of several recent research reports. The Goldman Sachs Group increased their target price on shares of Reddit from $105.00 to $176.00 and gave the stock a "neutral" rating in a research note on Tuesday, January 14th. Seaport Res Ptn raised Reddit to a "hold" rating in a research report on Thursday, February 6th. JPMorgan Chase & Co. boosted their target price on Reddit from $142.00 to $185.00 and gave the company a "neutral" rating in a report on Thursday, February 13th. Robert W. Baird increased their price target on Reddit from $160.00 to $185.00 and gave the stock a "neutral" rating in a report on Thursday, February 13th. Finally, Redburn Partners set a $75.00 price objective on shares of Reddit in a research report on Monday, March 17th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $162.68.

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Insider Activity

In other news, Director David C. Habiger acquired 774 shares of the business's stock in a transaction dated Wednesday, March 12th. The stock was acquired at an average price of $130.36 per share, with a total value of $100,898.64. Following the completion of the transaction, the director now directly owns 30,808 shares in the company, valued at approximately $4,016,130.88. This represents a 2.58 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Andrew Vollero sold 48,122 shares of the firm's stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $162.80, for a total transaction of $7,834,261.60. Following the sale, the chief financial officer now owns 599,295 shares in the company, valued at approximately $97,565,226. This trade represents a 7.43 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 492,794 shares of company stock worth $76,482,524 over the last three months.

Reddit Price Performance

RDDT traded down $5.36 during trading on Wednesday, reaching $120.07. 4,844,068 shares of the stock were exchanged, compared to its average volume of 5,454,067. The company has a market capitalization of $21.72 billion and a price-to-earnings ratio of -15.53. Reddit, Inc. has a 1 year low of $37.35 and a 1 year high of $230.41. The business's 50 day moving average price is $169.60 and its two-hundred day moving average price is $136.66.

Reddit (NYSE:RDDT - Get Free Report) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $0.36 earnings per share (EPS) for the quarter, topping 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%. On average, analysts anticipate that Reddit, Inc. will post 1.12 EPS for the current year.

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.