Bogart Wealth LLC Buys Shares of 200 Reddit, Inc. (NYSE:RDDT)

Bogart Wealth 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 and Exchange Commission. The fund bought 200 shares of the company’s stock, valued at approximately $33,000.

A number of other institutional investors and hedge funds have also bought and sold shares of RDDT. Van ECK Associates Corp purchased a new position in shares of Reddit in the 4th quarter valued at $446,000. TFB Advisors LLC purchased a new position in shares of Reddit in the 4th quarter valued at $410,000. Summit Trail Advisors LLC purchased a new position in shares of Reddit in the 4th quarter valued at $225,000. Focus Financial Network Inc. purchased a new position in shares of Reddit in the 4th quarter valued at $5,131,000. Finally, Silicon Valley Capital Partners purchased a new position in shares of Reddit in the 4th quarter valued at $183,000.

Insider Activity

In related news, CFO Andrew Vollero sold 19,838 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $143.22, for a total value of $2,841,198.36. Following the completion of the transaction, the chief financial officer now owns 703,615 shares of the company’s stock, valued at approximately $100,771,740.30. This represents a 2.74 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Steve Ladd Huffman sold 14,000 shares of the company’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $141.79, for a total value of $1,985,060.00. Following the completion of the transaction, the chief executive officer now directly owns 634,971 shares of the company’s stock, valued at $90,032,538.09. The trade was a 2.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 245,357 shares of company stock valued at $39,357,388 in the last quarter.

Analyst Ratings Changes

A number of research analysts have recently issued reports on RDDT shares. Roth Capital downgraded Reddit from a “strong-buy” rating to a “hold” rating in a report on Wednesday, January 22nd. The Goldman Sachs Group lifted their price target on Reddit from $105.00 to $176.00 and gave the company a “neutral” rating in a report on Tuesday, January 14th. JPMorgan Chase & Co. boosted their target price on Reddit from $142.00 to $185.00 and gave the stock a “neutral” rating in a research note on Thursday. JMP Securities boosted their target price on Reddit from $190.00 to $200.00 and gave the stock a “market outperform” rating in a research note on Thursday. Finally, Bank of America boosted their target price on Reddit from $180.00 to $190.00 and gave the stock a “neutral” rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $175.45.

Reddit Price Performance

Shares of RDDT stock opened at $196.37 on Friday. The business has a 50-day simple moving average of $182.33 and a 200-day simple moving average of $119.28. Reddit, Inc. has a 52-week low of $37.35 and a 52-week high of $230.41.

Reddit (NYSE:RDDT) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.12. Reddit had a negative return on equity of 40.54% and a negative net margin of 47.83%. As a group, sell-side analysts expect that Reddit, Inc. will post -3.45 EPS for the current year.

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.