Truxt Investmentos Ltda. Acquires Shares of 7,982 Reddit, Inc. (NYSE:RDDT)

Truxt Investmentos Ltda. bought a new position in Reddit, Inc. (NYSE:RDDT) during the fourth quarter, Holdings Channel reports. The fund bought 7,982 shares of the company’s stock, valued at approximately $1,321,000. Reddit makes up 2.1% of Truxt Investmentos Ltda.’s portfolio, making the stock its 15th biggest holding.

Several other institutional investors also recently modified their holdings of the business. FMR LLC boosted its holdings in Reddit by 302.8% in the third quarter. FMR LLC now owns 12,157,591 shares of the company’s stock worth $801,428,000 after acquiring an additional 9,139,196 shares in the last quarter. Jennison Associates LLC bought a new position in Reddit in the 4th quarter worth about $494,861,000. Point72 Asset Management L.P. grew its position in Reddit by 3,172.0% during the 3rd 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 last quarter. Holocene Advisors LP increased its stake in Reddit by 177.6% during the 3rd quarter. Holocene Advisors LP now owns 3,005,977 shares of the company’s stock valued at $198,154,000 after purchasing an additional 1,923,109 shares in the last quarter. Finally, Lord Abbett & CO. LLC raised its holdings in 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 buying an additional 1,548,450 shares during the last quarter.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Roth Capital downgraded shares of Reddit from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, January 22nd. Raymond James increased their target price on Reddit from $200.00 to $250.00 and gave the company a “strong-buy” rating in a research note on Monday, February 10th. B. Riley boosted their price target on Reddit from $112.00 to $187.00 and gave the stock a “buy” rating in a research note on Tuesday, January 14th. Wells Fargo & Company increased their price objective on Reddit from $206.00 to $215.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Finally, Roth Mkm lowered Reddit from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $116.00 to $195.00 in a research report on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Reddit has a consensus rating of “Moderate Buy” and a consensus target price of $175.45.

Reddit Stock Performance

Shares of Reddit stock opened at $189.76 on Thursday. Reddit, Inc. has a 52 week low of $37.35 and a 52 week high of $230.41. The stock’s 50-day simple moving average is $184.02 and its 200-day simple moving average is $122.04.

Reddit (NYSE:RDDT) last released its earnings results on Wednesday, February 12th. The company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.24 by $0.12. Reddit had a negative net margin of 37.25% and a negative return on equity of 24.71%. Research analysts predict that Reddit, Inc. will post 1.12 EPS for the current fiscal year.

Insider Transactions at Reddit

In related news, CTO Christopher Brian Slowe sold 21,000 shares of the company’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $146.01, for a total transaction of $3,066,210.00. Following the sale, the chief technology officer now owns 297,925 shares of the company’s stock, valued at $43,500,029.25. This represents a 6.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Andrew Vollero sold 19,838 shares of Reddit stock in a transaction on Monday, November 25th. The stock was sold at an average price of $143.22, for a total transaction of $2,841,198.36. Following the completion of the transaction, the chief financial officer now directly owns 703,615 shares of the company’s stock, valued at $100,771,740.30. The trade was a 2.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 212,024 shares of company stock valued at $35,086,431.

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.