BW Gestao de Investimentos Ltda. Takes $3.73 Million Position in Reddit, Inc. (NYSE:RDDT)

BW Gestao de Investimentos Ltda. purchased a new position in shares of Reddit, Inc. (NYSE:RDDT - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 22,800 shares of the company's stock, valued at approximately $3,726,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Banque Transatlantique SA purchased a new position in Reddit in the 4th quarter valued at about $80,000. Bayesian Capital Management LP acquired a new position in shares of Reddit in the fourth quarter worth about $5,769,000. BNP Paribas Financial Markets boosted its holdings in Reddit by 55.4% in the fourth quarter. BNP Paribas Financial Markets now owns 648,006 shares of the company's stock valued at $105,910,000 after purchasing an additional 230,959 shares during the last quarter. Algert Global LLC acquired a new stake in Reddit during the 4th quarter valued at approximately $5,823,000. Finally, Aptus Capital Advisors LLC acquired a new position in shares of Reddit in the 4th quarter valued at approximately $2,651,000.

Reddit Stock Down 4.9 %

RDDT stock opened at $113.01 on Friday. The company has a market capitalization of $20.44 billion, a P/E ratio of -14.62, a PEG ratio of 4.72 and a beta of 2.89. The company has a 50-day simple moving average of $116.82 and a 200 day simple moving average of $143.67. Reddit, Inc. has a fifty-two week low of $46.75 and a fifty-two week high of $230.41.

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

Analyst Ratings Changes

RDDT has been the topic of a number of research analyst reports. Robert W. Baird increased their price objective on shares of Reddit from $160.00 to $185.00 and gave the company a "neutral" rating in a research note on Thursday, February 13th. B. Riley reaffirmed a "buy" rating and set a $220.00 price target (down previously from $222.00) on shares of Reddit in a research report on Friday. Needham & Company LLC boosted their price objective on Reddit from $135.00 to $145.00 and gave the company a "buy" rating in a report on Friday. Sanford C. Bernstein upgraded Reddit from an "underperform" rating to a "market perform" rating and set a $130.00 price objective on the stock in a research note on Friday. Finally, Redburn Atlantic assumed coverage on Reddit in a report on Monday, March 17th. They issued a "sell" rating and a $75.00 price target for the company. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $142.30.

Insider Activity

In related news, CFO Andrew Vollero sold 48,122 shares of the firm's stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $162.80, for a total transaction of $7,834,261.60. Following the completion of the sale, the chief financial officer now directly owns 599,295 shares in the company, valued at approximately $97,565,226. This trade represents a 7.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Steve Ladd Huffman sold 14,000 shares of the company's stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 614,394 shares in the company, valued at $115,370,905.32. This represents a 2.23 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 711,270 shares of company stock worth $94,239,985.

Reddit Company 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.

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