Reddit, Inc. (NYSE:RDDT) Shares Bought by Sivia Capital Partners LLC

Sivia Capital Partners LLC grew its position in shares of Reddit, Inc. (NYSE:RDDT - Free Report) by 277.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 184,577 shares of the company's stock after purchasing an additional 135,700 shares during the quarter. Reddit makes up about 15.0% of Sivia Capital Partners LLC's portfolio, making the stock its biggest holding. Sivia Capital Partners LLC owned 0.11% of Reddit worth $30,167,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. FMR LLC lifted its position in shares of Reddit by 302.8% during the 3rd quarter. FMR LLC now owns 12,157,591 shares of the company's stock valued at $801,428,000 after buying an additional 9,139,196 shares in the last quarter. VY Capital Management Co. Ltd. purchased a new position in Reddit during the third quarter valued at $474,403,000. Point72 Asset Management L.P. grew its position in shares of Reddit by 3,172.0% in the third quarter. Point72 Asset Management L.P. now owns 2,296,068 shares of the company's stock valued at $151,357,000 after purchasing an additional 2,225,895 shares during the period. Holocene Advisors LP increased its stake in shares of Reddit by 177.6% during the third quarter. Holocene Advisors LP now owns 3,005,977 shares of the company's stock worth $198,154,000 after purchasing an additional 1,923,109 shares in the last quarter. Finally, Lord Abbett & CO. LLC raised its position in shares of Reddit by 1,519.4% during the 3rd quarter. Lord Abbett & CO. LLC now owns 1,650,362 shares of the company's stock worth $108,792,000 after purchasing an additional 1,548,450 shares during the last quarter.

Insider Activity

In other Reddit news, COO Jennifer L. Wong sold 33,334 shares of the business's stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $76.27, for a total transaction of $2,542,384.18. Following the completion of the transaction, the chief operating officer now owns 1,542,457 shares in the company, valued at $117,643,195.39. The trade was a 2.12 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO Christopher Brian Slowe sold 5,000 shares of the firm's stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $77.48, for a total transaction of $387,400.00. Following the completion of the sale, the chief technology officer now owns 30,068 shares in the company, valued at $2,329,668.64. The trade was a 14.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 264,357 shares of company stock valued at $35,297,700.

Reddit Price Performance

Shares of RDDT traded down $2.26 during trading on Monday, reaching $164.82. 4,352,367 shares of the company traded hands, compared to its average volume of 5,098,113. The stock has a 50-day simple moving average of $154.55 and a 200-day simple moving average of $97.94. Reddit, Inc. has a twelve month low of $37.35 and a twelve month high of $187.69.

Reddit (NYSE:RDDT - Get Free Report) last posted its earnings results on Tuesday, October 29th. The company reported $0.16 earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.23. The firm had revenue of $348.40 million during the quarter, compared to the consensus estimate of $313.61 million. Reddit had a negative net margin of 47.83% and a negative return on equity of 40.54%. The company's revenue for the quarter was up 67.9% compared to the same quarter last year. As a group, analysts forecast that Reddit, Inc. will post -3.46 EPS for the current year.

Analyst Ratings Changes

RDDT has been the topic of several research analyst reports. Guggenheim started coverage on Reddit in a report on Friday, December 20th. They issued a "buy" rating and a $210.00 price objective on the stock. Loop Capital increased their price objective on Reddit from $120.00 to $180.00 and gave the company a "buy" rating in a research note on Monday, December 2nd. Raymond James lifted their target price on shares of Reddit from $70.00 to $80.00 and gave the stock a "strong-buy" rating in a research note on Thursday, October 10th. Roth Mkm raised their price target on shares of Reddit from $89.00 to $116.00 and gave the stock a "buy" rating in a research note on Wednesday, October 30th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Reddit from $59.00 to $77.00 and gave the company a "neutral" rating in a research note on Monday, October 7th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $136.75.

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.