1,331 Shares in Reddit, Inc. (NYSE:RDDT) Acquired by United Capital Financial Advisors LLC

United Capital Financial Advisors LLC bought a new stake in Reddit, Inc. (NYSE:RDDT) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,331 shares of the company’s stock, valued at approximately $218,000.

A number of other hedge funds and other institutional investors have also modified their holdings of RDDT. Plato Investment Management Ltd purchased a new stake in Reddit during the 4th quarter worth approximately $27,000. EverSource Wealth Advisors LLC acquired a new stake in shares of Reddit during the 4th quarter worth about $28,000. Ridgewood Investments LLC boosted its holdings in Reddit by 100.0% in the fourth quarter. Ridgewood Investments LLC now owns 200 shares of the company’s stock valued at $33,000 after purchasing an additional 100 shares in the last quarter. Farmers & Merchants Investments Inc. purchased a new position in Reddit in the fourth quarter valued at approximately $33,000. Finally, Bogart Wealth LLC purchased a new position in Reddit in the fourth quarter valued at approximately $33,000.

Analyst Ratings Changes

A number of research firms recently commented on RDDT. Wells Fargo & Company dropped their target price on shares of Reddit from $215.00 to $158.00 and set an “overweight” rating on the stock in a research report on Monday, March 31st. Redburn Partners set a $75.00 price objective on Reddit in a report on Monday, March 17th. Roth Capital downgraded Reddit from a “strong-buy” rating to a “hold” rating in a report on Wednesday, January 22nd. Piper Sandler reduced their price objective on Reddit from $220.00 to $140.00 and set an “overweight” rating for the company in a research note on Thursday, April 10th. Finally, The Goldman Sachs Group lowered their target price on shares of Reddit from $185.00 to $124.00 and set a “neutral” rating on the stock in a report on Monday, April 14th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $142.22.

Reddit Stock Up 7.9 %

Shares of NYSE RDDT opened at $101.60 on Wednesday. The stock has a market capitalization of $18.38 billion and a PE ratio of -13.14. The firm has a fifty day moving average of $126.96 and a 200-day moving average of $141.27. Reddit, Inc. has a 52-week low of $40.85 and a 52-week high of $230.41.

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

Insider Transactions at Reddit

In related news, CEO Steve Ladd Huffman sold 14,000 shares of the company’s stock in a transaction 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 sale, the chief executive officer now directly owns 614,394 shares of the company’s stock, valued at approximately $124,083,012.24. This represents a 2.23 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Michelle Marie Reynolds sold 11,965 shares of the stock in a transaction 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 owns 48,418 shares of the company’s stock, valued at approximately $7,621,477.38. This represents a 19.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 709,202 shares of company stock worth $95,406,208.

About Reddit

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.