Reddit, Inc. (NYSE:RDDT) Stock Holdings Raised by Proficio Capital Partners LLC

Proficio Capital Partners LLC boosted its holdings in Reddit, Inc. (NYSE:RDDT) by 16,582.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 965,604 shares of the company’s stock after acquiring an additional 959,816 shares during the period. Proficio Capital Partners LLC owned about 0.55% of Reddit worth $157,818,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Ridgewood Investments LLC grew its position in shares of Reddit by 100.0% during the fourth quarter. Ridgewood Investments LLC now owns 200 shares of the company’s stock worth $33,000 after acquiring an additional 100 shares during the last quarter. UMB Bank n.a. boosted its stake in Reddit by 10.8% during the 4th quarter. UMB Bank n.a. now owns 1,533 shares of the company’s stock valued at $251,000 after purchasing an additional 150 shares during the period. Foundations Investment Advisors LLC grew its position in Reddit by 3.0% in the 4th quarter. Foundations Investment Advisors LLC now owns 5,325 shares of the company’s stock worth $870,000 after purchasing an additional 155 shares during the last quarter. Kingsview Wealth Management LLC increased its stake in shares of Reddit by 4.5% in the fourth quarter. Kingsview Wealth Management LLC now owns 3,986 shares of the company’s stock valued at $651,000 after purchasing an additional 171 shares during the period. Finally, Allworth Financial LP raised its holdings in shares of Reddit by 970.0% during the fourth quarter. Allworth Financial LP now owns 214 shares of the company’s stock valued at $35,000 after buying an additional 194 shares during the last quarter.

Reddit Price Performance

Shares of RDDT opened at $168.05 on Thursday. The company has a 50-day moving average of $183.83 and a two-hundred day moving average of $125.99. The stock has a market cap of $30.40 billion and a price-to-earnings ratio of -21.74. Reddit, Inc. has a one year low of $37.35 and a one year high of $230.41.

Reddit (NYSE:RDDT) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.12. Reddit had a negative net margin of 37.25% and a negative return on equity of 24.71%. Analysts anticipate that Reddit, Inc. will post 1.12 earnings per share for the current year.

Analyst Upgrades and Downgrades

RDDT has been the subject of a number of recent analyst reports. Roth Mkm lowered Reddit from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $116.00 to $195.00 in a report on Wednesday, January 22nd. JMP Securities increased their price target on Reddit from $190.00 to $200.00 and gave the stock a “market outperform” rating in a research note on Thursday, February 13th. Bank of America raised their price target on Reddit from $180.00 to $190.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. Sanford C. Bernstein boosted their price target on shares of Reddit from $65.00 to $85.00 and gave the stock an “underperform” rating in a research report on Wednesday, October 30th. Finally, Needham & Company LLC upped their price target on shares of Reddit from $190.00 to $220.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Reddit has a consensus rating of “Moderate Buy” and an average target price of $175.95.

Insider Transactions at Reddit

In other Reddit news, CEO Steve Ladd Huffman sold 14,000 shares of the stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $141.79, for a total value of $1,985,060.00. Following the completion of the sale, the chief executive officer now owns 634,971 shares in the company, valued at $90,032,538.09. This represents a 2.16 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Jennifer L. Wong sold 33,333 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $176.23, for a total value of $5,874,274.59. Following the sale, the chief operating officer now owns 1,504,297 shares of the company’s stock, valued at approximately $265,102,260.31. This represents a 2.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 289,122 shares of company stock valued at $50,007,590 over the last quarter.

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.