Reddit, Inc. (NYSE:RDDT) Holdings Lowered by Waypoint Wealth Partners Inc.

Waypoint Wealth Partners Inc. reduced its stake in Reddit, Inc. (NYSE:RDDT - Free Report) by 87.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,225 shares of the company's stock after selling 23,442 shares during the quarter. Waypoint Wealth Partners Inc.'s holdings in Reddit were worth $527,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in RDDT. Ridgewood Investments LLC boosted 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 acquiring 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 $33,000. Bogart Wealth LLC purchased a new stake in shares of Reddit during the 4th quarter valued at $33,000. Spire Wealth Management acquired a new stake in shares of Reddit during the 4th quarter worth $35,000. Finally, Allworth Financial LP increased its holdings in shares of Reddit by 970.0% during the 4th quarter. Allworth Financial LP now owns 214 shares of the company's stock worth $35,000 after buying an additional 194 shares during the last quarter.

Analyst Ratings Changes

RDDT has been the subject of a number of research reports. Citigroup boosted their price target on Reddit from $200.00 to $220.00 and gave the company a "buy" rating in a research report on Thursday, February 13th. Needham & Company LLC increased their target price on shares of Reddit from $190.00 to $220.00 and gave the stock a "buy" rating in a research report on Thursday, February 13th. Wells Fargo & Company lifted their price target on shares of Reddit from $206.00 to $215.00 and gave the company an "overweight" rating in a research report on Thursday, February 13th. Sanford C. Bernstein increased their price objective on shares of Reddit from $65.00 to $85.00 and gave the stock an "underperform" rating in a research report on Wednesday, October 30th. Finally, Robert W. Baird lifted their target price on shares of Reddit from $160.00 to $185.00 and gave the company a "neutral" rating in a report on Thursday, February 13th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Reddit has a consensus rating of "Moderate Buy" and an average target price of $175.45.

Reddit Stock Up 1.1 %

NYSE:RDDT traded up $2.02 during trading hours on Wednesday, reaching $189.15. 2,099,722 shares of the stock were exchanged, compared to its average volume of 5,685,411. Reddit, Inc. has a 52 week low of $37.35 and a 52 week high of $230.41. The stock has a market capitalization of $33.21 billion and a P/E ratio of -24.44. The firm has a 50 day simple moving average of $183.54 and a 200-day simple moving average of $121.57.

Reddit (NYSE:RDDT - Get Free Report) last issued its 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, analysts expect that Reddit, Inc. will post 0.96 earnings per share for the current year.

Insider Activity at Reddit

In related news, CEO Steve Ladd Huffman sold 14,000 shares of the stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $201.96, for a total value of $2,827,440.00. Following the completion of the transaction, the chief executive officer now directly owns 614,394 shares of the company's stock, valued at $124,083,012.24. This represents a 2.23 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Benjamin Seong Lee sold 18,519 shares of Reddit stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $146.06, for a total value of $2,704,885.14. Following the sale, the insider now directly owns 138,401 shares in the company, valued at $20,214,850.06. The trade was a 11.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 212,024 shares of company stock worth $35,086,431 in the last 90 days.

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.