Transatlantique Private Wealth LLC Buys New Shares in Reddit, Inc. (NYSE:RDDT)

Transatlantique Private Wealth LLC purchased a new stake in Reddit, Inc. (NYSE:RDDT) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 1,457 shares of the company’s stock, valued at approximately $238,000.

Several other institutional investors also recently modified their holdings of RDDT. FMR LLC boosted its stake in Reddit by 7.5% in the 4th quarter. FMR LLC now owns 13,070,780 shares of the company’s stock valued at $2,136,288,000 after buying an additional 913,189 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Reddit by 184.2% during the 4th quarter. Vanguard Group Inc. now owns 9,181,390 shares of the company’s stock worth $1,500,606,000 after purchasing an additional 5,950,909 shares in the last quarter. Jennison Associates LLC bought a new position in Reddit during the 4th quarter valued at about $494,861,000. Alliancebernstein L.P. boosted its position in Reddit by 1,011.1% in the fourth quarter. Alliancebernstein L.P. now owns 2,788,758 shares of the company’s stock valued at $455,795,000 after buying an additional 2,537,768 shares in the last quarter. Finally, Brooklyn FI LLC bought a new stake in Reddit during the fourth quarter worth about $303,082,000.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on RDDT shares. Redburn Partners set a $75.00 target price on Reddit in a report on Monday, March 17th. Needham & Company LLC reissued a “buy” rating and issued a $220.00 price objective on shares of Reddit in a research note on Friday, March 21st. Morgan Stanley decreased their target price on Reddit from $210.00 to $140.00 and set an “overweight” rating on the stock in a report on Thursday. Truist Financial assumed coverage on Reddit in a report on Monday, April 7th. They issued a “buy” rating and a $150.00 price target for the company. Finally, Seaport Res Ptn raised shares of Reddit to a “hold” rating in a report on Thursday, February 6th. Two equities research analysts have rated the stock with a sell rating, seven have given 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, Reddit currently has a consensus rating of “Moderate Buy” and a consensus price target of $142.22.

Reddit Trading Up 0.7 %

NYSE:RDDT opened at $96.04 on Monday. The stock has a market cap of $17.37 billion and a price-to-earnings ratio of -12.42. The stock has a 50-day moving average price of $131.49 and a two-hundred day moving average price of $141.39. Reddit, Inc. has a 1 year low of $40.51 and a 1 year high of $230.41.

Reddit (NYSE:RDDT) last posted its earnings results on Wednesday, February 12th. The company reported $0.36 earnings per share (EPS) for the quarter, topping 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%. Sell-side analysts forecast that Reddit, Inc. will post 1.12 earnings per share for the current year.

Insider Activity at Reddit

In other Reddit news, CEO Steve Ladd Huffman sold 124,408 shares of the business’s stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $127.36, for a total transaction of $15,844,602.88. Following the sale, the chief executive officer now directly owns 583,515 shares of the company’s stock, valued at $74,316,470.40. The trade was a 17.57 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, COO Jennifer L. Wong sold 33,334 shares of the firm’s stock in a transaction dated Wednesday, April 16th. The shares were sold at an average price of $93.99, for a total value of $3,133,062.66. Following the completion of the transaction, the chief operating officer now owns 1,466,119 shares of the company’s stock, valued at $137,800,524.81. The trade was a 2.22 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 714,202 shares of company stock valued at $96,326,958.

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.