3,985 Shares in Reddit, Inc. (NYSE:RDDT) Acquired by Global Retirement Partners LLC

Global Retirement Partners LLC bought a new position in shares of Reddit, Inc. (NYSE:RDDT) during the fourth quarter, Holdings Channel reports. The fund bought 3,985 shares of the company’s stock, valued at approximately $651,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Ridgewood Investments LLC increased its holdings in Reddit by 100.0% during the 4th quarter. Ridgewood Investments LLC now owns 200 shares of the company’s stock worth $33,000 after acquiring an additional 100 shares during the period. UMB Bank n.a. increased 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 acquiring an additional 150 shares during the period. Foundations Investment Advisors LLC increased 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 acquiring an additional 155 shares during the period. Kingsview Wealth Management LLC increased its holdings in Reddit by 4.5% during the 4th quarter. Kingsview Wealth Management LLC now owns 3,986 shares of the company’s stock worth $651,000 after acquiring an additional 171 shares during the period. Finally, Allworth Financial LP increased its holdings in Reddit by 970.0% during the 4th quarter. Allworth Financial LP now owns 214 shares of the company’s stock worth $35,000 after acquiring an additional 194 shares during the period.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on RDDT. Bank of America upped their target price on shares of Reddit from $180.00 to $190.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. Wells Fargo & Company boosted their price target on shares of Reddit from $206.00 to $215.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Jefferies Financial Group boosted their price target on shares of Reddit from $120.00 to $175.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Citigroup reissued a “neutral” rating on shares of Reddit in a research note on Thursday, February 13th. Finally, The Goldman Sachs Group boosted their price target on shares of Reddit from $105.00 to $176.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 14th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $175.95.

Reddit Stock Performance

Shares of Reddit stock opened at $166.27 on Friday. Reddit, Inc. has a 52-week low of $37.35 and a 52-week high of $230.41. The stock has a market capitalization of $30.08 billion and a price-to-earnings ratio of -21.51. The company has a fifty day moving average of $184.13 and a 200-day moving average of $123.65.

Reddit (NYSE:RDDT) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $0.36 earnings per share for the quarter, beating 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%. On average, equities research analysts forecast that Reddit, Inc. will post 1.12 earnings per share for the current fiscal year.

Insider Buying and Selling at Reddit

In other Reddit news, CEO Steve Ladd Huffman sold 14,000 shares of the stock in a transaction on Monday, December 16th. The shares were sold at an average price of $176.20, for a total transaction of $2,466,800.00. Following the completion of the sale, the chief executive officer now owns 620,971 shares of the company’s stock, valued at $109,415,090.20. This represents a 2.20 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Andrew Vollero sold 19,838 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $143.22, for a total transaction of $2,841,198.36. Following the sale, 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 position. The disclosure for this sale can be found here. Insiders sold 219,838 shares of company stock valued at $38,201,526 in the last quarter.

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.