2,000 Shares in Reddit, Inc. (NYSE:RDDT) Acquired by LVW Advisors LLC

LVW Advisors LLC bought a new stake in shares of Reddit, Inc. (NYSE:RDDT) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 2,000 shares of the company’s stock, valued at approximately $327,000.

Several other institutional investors have also added to or reduced their stakes in RDDT. FMR LLC raised its holdings in Reddit by 302.8% in the 3rd quarter. FMR LLC now owns 12,157,591 shares of the company’s stock worth $801,428,000 after purchasing an additional 9,139,196 shares during the period. VY Capital Management Co. Ltd. purchased a new stake in Reddit in the 3rd quarter worth $474,403,000. Holocene Advisors LP raised its holdings in Reddit by 177.6% during the third quarter. Holocene Advisors LP now owns 3,005,977 shares of the company’s stock valued at $198,154,000 after acquiring an additional 1,923,109 shares during the period. Point72 Asset Management L.P. lifted 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 acquiring an additional 2,225,895 shares in the last quarter. Finally, Lord Abbett & CO. LLC boosted its stake in shares of Reddit by 1,519.4% in the third quarter. Lord Abbett & CO. LLC now owns 1,650,362 shares of the company’s stock worth $108,792,000 after acquiring an additional 1,548,450 shares during the period.

Insider Activity

In other Reddit news, Director Mary Porter Gale sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $114.40, for a total value of $572,000.00. Following the sale, the director now owns 46,459 shares of the company’s stock, valued at $5,314,909.60. The trade was a 9.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Steve Ladd Huffman sold 14,000 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $113.13, for a total value of $1,583,820.00. Following the transaction, the chief executive officer now owns 651,775 shares of the company’s stock, valued at approximately $73,735,305.75. This represents a 2.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 226,023 shares of company stock valued at $33,730,955 in the last quarter.

Reddit Trading Up 0.4 %

Shares of Reddit stock opened at $175.57 on Tuesday. The business’s 50 day moving average price is $158.06 and its 200 day moving average price is $100.81. Reddit, Inc. has a one year low of $37.35 and a one year high of $187.69.

Reddit (NYSE:RDDT) last posted its quarterly 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. Reddit had a negative net margin of 47.83% and a negative return on equity of 40.54%. The business had revenue of $348.40 million during the quarter, compared to analysts’ expectations of $313.61 million. The business’s revenue for the quarter was up 67.9% on a year-over-year basis. Analysts forecast that Reddit, Inc. will post -3.46 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Jefferies Financial Group boosted their price target on Reddit from $120.00 to $175.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Roth Mkm lifted their target price on Reddit from $89.00 to $116.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Needham & Company LLC boosted their price target on shares of Reddit from $120.00 to $190.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. JMP Securities lifted their price objective on shares of Reddit from $118.00 to $160.00 and gave the stock a “market outperform” rating in a research note on Monday, November 25th. Finally, Citigroup upped their target price on shares of Reddit from $120.00 to $200.00 and gave the company a “buy” rating in a research report on Friday, December 20th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $148.25.

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.