XTX Topco Ltd Trims Stake in Reddit, Inc. (NYSE:RDDT)

XTX Topco Ltd lowered its position in shares of Reddit, Inc. (NYSE:RDDT - Free Report) by 73.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,955 shares of the company's stock after selling 5,282 shares during the period. XTX Topco Ltd's holdings in Reddit were worth $320,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Plato Investment Management Ltd acquired a new stake in Reddit during the 4th quarter valued at approximately $27,000. EverSource Wealth Advisors LLC bought a new stake in Reddit during the 4th quarter valued at $28,000. Ridgewood Investments LLC raised its holdings in Reddit by 100.0% during the fourth 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. bought a new position in Reddit in the 4th quarter valued at about $33,000. Finally, Bogart Wealth LLC purchased a new stake in shares of Reddit in the fourth quarter worth approximately $33,000.

Reddit Stock Performance

RDDT traded up $1.91 on Tuesday, reaching $123.12. The company had a trading volume of 2,426,685 shares, compared to its average volume of 5,605,676. Reddit, Inc. has a 52-week low of $44.15 and a 52-week high of $230.41. The company has a market cap of $22.27 billion and a price-to-earnings ratio of -15.92. The business has a 50 day simple moving average of $120.74 and a 200 day simple moving average of $142.98.

Reddit (NYSE:RDDT - Get Free Report) last released its earnings results on Wednesday, February 12th. The company reported $0.36 EPS for the quarter, beating 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%. As a group, equities research analysts predict that Reddit, Inc. will post 1.12 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. JMP Securities set a $155.00 price objective on shares of Reddit in a research note on Friday, March 28th. Piper Sandler reduced their price objective on Reddit from $220.00 to $140.00 and set an "overweight" rating for the company in a research note on Thursday, April 10th. Roth Capital cut Reddit from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, January 22nd. Seaport Res Ptn upgraded shares of Reddit to a "hold" rating in a research report on Thursday, February 6th. Finally, The Goldman Sachs Group lowered their price objective on shares of Reddit from $185.00 to $124.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $142.22.

Insider Buying and Selling

In other news, CTO Christopher Brian Slowe sold 11,000 shares of Reddit stock in a transaction dated Tuesday, April 22nd. The stock was sold at an average price of $99.75, for a total value of $1,097,250.00. Following the transaction, the chief technology officer now owns 281,213 shares in the company, valued at approximately $28,050,996.75. The trade was a 3.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Benjamin Seong Lee sold 92,299 shares of the firm's stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $157.35, for a total value of $14,523,247.65. Following the transaction, the insider now owns 115,001 shares in the company, valued at approximately $18,095,407.35. The trade was a 44.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 725,270 shares of company stock worth $97,067,425 in the last quarter.

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.