Transatlantique Private Wealth LLC Makes New $238,000 Investment in Reddit, Inc. (NYSE:RDDT)

Transatlantique Private Wealth LLC bought a new stake in shares of Reddit, Inc. (NYSE:RDDT) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 1,457 shares of the company’s stock, valued at approximately $238,000.

Several other large investors also recently modified their holdings of the business. Plato Investment Management Ltd purchased a new position in Reddit in the fourth quarter valued at about $27,000. EverSource Wealth Advisors LLC purchased a new position in shares of Reddit during the 4th quarter valued at approximately $28,000. 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 buying an additional 100 shares in the last quarter. Farmers & Merchants Investments Inc. bought a new stake in shares of Reddit in the fourth quarter worth $33,000. Finally, Bogart Wealth LLC acquired a new stake in Reddit in the fourth quarter valued at $33,000.

Analyst Ratings Changes

Several equities research analysts have 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 cut their price objective on Reddit from $250.00 to $200.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, March 12th. Guggenheim decreased their target price on Reddit from $210.00 to $170.00 and set a “buy” rating for the company in a research report on Thursday, March 20th. Piper Sandler dropped their price target on Reddit from $220.00 to $140.00 and set an “overweight” rating on the stock in a research report on Thursday, April 10th. Finally, Morgan Stanley decreased their price objective on shares of Reddit from $210.00 to $140.00 and set an “overweight” rating for the company in a report on Thursday. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $142.22.

Insider Activity

In other news, CAO Michelle Marie Reynolds sold 11,965 shares of the stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $157.41, for a total value of $1,883,410.65. Following the completion of the sale, the chief accounting officer now directly owns 48,418 shares of the company’s stock, valued at $7,621,477.38. This represents a 19.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Steve Ladd Huffman sold 14,000 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $201.96, for a total transaction of $2,827,440.00. Following the completion of the transaction, the chief executive officer now owns 614,394 shares in the company, valued at approximately $124,083,012.24. This represents a 2.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 714,202 shares of company stock worth $96,326,958 over the last 90 days.

Reddit Stock Up 0.7 %

Shares of RDDT stock opened at $96.04 on Monday. The stock has a 50-day simple moving average of $131.49 and a 200 day simple moving average of $141.39. Reddit, Inc. has a fifty-two week low of $40.51 and a fifty-two week high of $230.41. The stock has a market capitalization of $17.37 billion and a P/E ratio of -12.42.

Reddit (NYSE:RDDT) last issued 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%. On average, sell-side analysts anticipate that Reddit, Inc. will post 1.12 earnings per share 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.