Aptus Capital Advisors LLC Takes Position in Reddit, Inc. (NYSE:RDDT)

Aptus Capital Advisors LLC purchased a new stake in shares of Reddit, Inc. (NYSE:RDDT - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 16,220 shares of the company's stock, valued at approximately $2,651,000.

A number of other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in 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 buying an additional 5,950,909 shares during the period. Jennison Associates LLC acquired a new stake in shares of Reddit during the fourth quarter valued at approximately $494,861,000. Alliancebernstein L.P. lifted its position in shares of Reddit by 1,011.1% in the 4th quarter. Alliancebernstein L.P. now owns 2,788,758 shares of the company's stock valued at $455,795,000 after acquiring an additional 2,537,768 shares in the last quarter. Brooklyn FI LLC acquired a new position in Reddit in the 4th quarter worth approximately $303,082,000. Finally, GQG Partners LLC purchased a new position in Reddit during the 4th quarter worth approximately $271,539,000.

Insider Transactions at Reddit

In related news, Director David C. Habiger purchased 774 shares of the stock in a transaction that occurred on Wednesday, March 12th. The stock was bought at an average cost of $130.36 per share, for a total transaction of $100,898.64. Following the completion of the transaction, the director now directly owns 30,808 shares in the company, valued at $4,016,130.88. This represents a 2.58 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Steve Ladd Huffman sold 14,000 shares of the business's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $187.78, for a total value of $2,628,920.00. Following the transaction, the chief executive officer now owns 614,394 shares of the company's stock, valued at $115,370,905.32. This trade represents a 2.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 711,270 shares of company stock worth $94,239,985 in the last 90 days.

Reddit Trading Up 2.2 %

RDDT traded up $2.37 during midday trading on Thursday, reaching $107.90. The company's stock had a trading volume of 5,750,254 shares, compared to its average volume of 5,856,725. The stock's 50-day moving average is $113.66 and its 200-day moving average is $143.89. Reddit, Inc. has a 1 year low of $48.25 and a 1 year high of $230.41. The firm has a market capitalization of $19.52 billion, a price-to-earnings ratio of -13.96, a PEG ratio of 4.72 and a beta of 2.90.

Reddit (NYSE:RDDT - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The company reported $0.13 earnings per share for the quarter, topping analysts' consensus estimates of $0.02 by $0.11. The company had revenue of $392.36 million during the quarter, compared to analyst estimates of $370.55 million. Reddit had a negative net margin of 37.25% and a negative return on equity of 24.71%. The firm's revenue for the quarter was up 61.5% on a year-over-year basis. During the same period in the previous year, the business earned ($8.19) EPS. As a group, equities research analysts forecast that Reddit, Inc. will post 1.12 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently commented on RDDT. Seaport Res Ptn raised Reddit from a "hold" rating to a "strong-buy" rating in a research report on Monday. Robert W. Baird set a $140.00 target price on Reddit in a research note on Monday. Redburn Partners set a $75.00 price target on shares of Reddit in a research report on Monday, March 17th. Guggenheim lowered their price objective on shares of Reddit from $170.00 to $165.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. Finally, Citigroup upped their price objective on shares of Reddit from $150.00 to $158.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Reddit presently has a consensus rating of "Moderate Buy" and an average price target of $140.35.

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.