Virtu Financial LLC Acquires Shares of 33,011 Reddit, Inc. (NYSE:RDDT)

Virtu Financial LLC acquired a new position in shares of Reddit, Inc. (NYSE:RDDT - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 33,011 shares of the company's stock, valued at approximately $5,395,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Ridgewood Investments LLC boosted its holdings in Reddit by 100.0% in the fourth quarter. Ridgewood Investments LLC now owns 200 shares of the company's stock valued at $33,000 after purchasing an additional 100 shares during the last quarter. Proficio Capital Partners LLC increased its holdings in Reddit by 2.1% in the fourth quarter. Proficio Capital Partners LLC now owns 5,908 shares of the company's stock valued at $966,000 after buying an additional 120 shares during the last quarter. Farther Finance Advisors LLC raised its stake in Reddit by 148.5% during the fourth quarter. Farther Finance Advisors LLC now owns 246 shares of the company's stock valued at $40,000 after buying an additional 147 shares in the last quarter. UMB Bank n.a. lifted its holdings in Reddit by 10.8% during the 4th quarter. UMB Bank n.a. now owns 1,533 shares of the company's stock worth $251,000 after buying an additional 150 shares during the last quarter. Finally, Foundations Investment Advisors LLC lifted its holdings in Reddit by 3.0% during the 4th quarter. Foundations Investment Advisors LLC now owns 5,325 shares of the company's stock worth $870,000 after buying an additional 155 shares during the last quarter.

Insiders Place Their Bets

In other news, CEO Steve Ladd Huffman sold 14,000 shares of the firm's stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $165.33, for a total transaction of $2,314,620.00. Following the completion of the transaction, the chief executive officer now directly owns 614,394 shares of the company's stock, valued at approximately $101,577,760.02. This trade represents a 2.23 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Jennifer L. Wong sold 33,333 shares of Reddit stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $125.22, for a total transaction of $4,173,958.26. Following the sale, the chief operating officer now owns 1,466,119 shares in the company, valued at approximately $183,587,421.18. This trade represents a 2.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 492,794 shares of company stock valued at $76,482,524 over the last 90 days.

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Reddit Trading Down 4.3 %

NYSE RDDT traded down $5.36 on Wednesday, reaching $120.07. The stock had a trading volume of 4,848,989 shares, compared to its average volume of 5,454,081. Reddit, Inc. has a 1 year low of $37.35 and a 1 year high of $230.41. The business has a 50 day moving average price of $169.60 and a 200 day moving average price of $136.66. The company has a market capitalization of $21.72 billion and a price-to-earnings ratio of -15.53.

Reddit (NYSE:RDDT - Get Free Report) last released its quarterly earnings data on Wednesday, February 12th. The company reported $0.36 EPS for the quarter, topping analysts' consensus estimates 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 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Wells Fargo & Company upped their price target on Reddit from $206.00 to $215.00 and gave the company an "overweight" rating in a research report on Thursday, February 13th. Raymond James dropped their target price on shares of Reddit from $250.00 to $200.00 and set a "strong-buy" rating on the stock in a report on Wednesday, March 12th. Redburn Partners set a $75.00 price target on shares of Reddit in a research report on Monday, March 17th. Roth Mkm downgraded 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 report on Wednesday, January 22nd. Finally, Robert W. Baird increased their price objective on shares of Reddit from $160.00 to $185.00 and gave the stock a "neutral" rating in a research note on Thursday, February 13th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $162.68.

About Reddit

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.