Gilder Gagnon Howe & Co. LLC Buys Shares of 10,002 Reddit, Inc. (NYSE:RDDT)

Gilder Gagnon Howe & Co. LLC purchased a new position in Reddit, Inc. (NYSE:RDDT) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 10,002 shares of the company’s stock, valued at approximately $1,635,000.

Several other large investors have also recently made changes to their positions in the company. Monolith Management Ltd purchased a new position in Reddit in the 4th quarter valued at $6,047,000. Nebula Research & Development LLC lifted its stake in shares of Reddit by 155.4% in the fourth quarter. Nebula Research & Development LLC now owns 11,170 shares of the company’s stock worth $1,826,000 after buying an additional 6,796 shares in the last quarter. Lord Abbett & CO. LLC boosted its position in Reddit by 12.8% during the fourth quarter. Lord Abbett & CO. LLC now owns 1,861,998 shares of the company’s stock worth $304,325,000 after acquiring an additional 211,636 shares during the last quarter. Kovitz Investment Group Partners LLC purchased a new stake in Reddit during the 4th quarter valued at about $208,000. Finally, Science & Technology Partners L.P. acquired a new stake in Reddit in the 4th quarter valued at about $16,834,000.

Insiders Place Their Bets

In related news, COO Jennifer L. Wong sold 33,334 shares of the business’s stock in a transaction dated Wednesday, April 16th. The stock was sold at an average price of $93.99, for a total value of $3,133,062.66. Following the transaction, the chief operating officer now owns 1,466,119 shares in the company, valued at $137,800,524.81. The trade was a 2.22 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CTO Christopher Brian Slowe sold 5,068 shares of the stock in a transaction that occurred on Thursday, April 24th. The stock was sold at an average price of $111.28, for a total value of $563,967.04. Following the sale, the chief technology officer now directly owns 20,184 shares of the company’s stock, valued at $2,246,075.52. The trade was a 20.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 725,270 shares of company stock valued at $97,067,425 over the last quarter.

Reddit Price Performance

NYSE RDDT opened at $118.35 on Friday. The firm’s fifty day moving average price is $122.11 and its 200 day moving average price is $142.14. Reddit, Inc. has a 12 month low of $44.15 and a 12 month high of $230.41. The company has a market capitalization of $21.41 billion and a price-to-earnings ratio of -15.31.

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, topping the consensus estimate of $0.24 by $0.12. Reddit had a negative return on equity of 24.71% and a negative net margin of 37.25%. As a group, sell-side analysts forecast that Reddit, Inc. will post 1.12 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on RDDT. Needham & Company LLC restated a “buy” rating and issued a $220.00 price target on shares of Reddit in a research report on Friday, March 21st. Oppenheimer started coverage on Reddit in a report on Wednesday, April 16th. They issued an “outperform” rating and a $125.00 target price for the company. JPMorgan Chase & Co. decreased their target price on shares of Reddit from $185.00 to $110.00 and set a “neutral” rating on the stock in a report on Tuesday, April 8th. Robert W. Baird increased their price target on Reddit from $160.00 to $185.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. Finally, Bank of America lowered their price objective on shares of Reddit from $190.00 to $110.00 and set a “neutral” rating for the company in a research report on Wednesday, April 9th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $142.22.

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.