2,000 Shares in Reddit, Inc. (NYSE:RDDT) Bought by Chung Wu Investment Group LLC

Chung Wu Investment Group LLC bought a new position in Reddit, Inc. (NYSE:RDDT - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 2,000 shares of the company's stock, valued at approximately $327,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RDDT. FMR LLC boosted its stake in shares of Reddit by 302.8% in the third quarter. FMR LLC now owns 12,157,591 shares of the company's stock worth $801,428,000 after acquiring an additional 9,139,196 shares during the period. Jennison Associates LLC purchased a new position in Reddit in the 4th quarter worth approximately $494,861,000. Point72 Asset Management L.P. lifted its holdings in Reddit by 3,172.0% in the 3rd quarter. Point72 Asset Management L.P. now owns 2,296,068 shares of the company's stock worth $151,357,000 after purchasing an additional 2,225,895 shares in the last quarter. Holocene Advisors LP boosted its stake in Reddit by 177.6% in the 3rd quarter. Holocene Advisors LP now owns 3,005,977 shares of the company's stock worth $198,154,000 after purchasing an additional 1,923,109 shares during the period. Finally, Lord Abbett & CO. LLC grew its holdings in Reddit by 1,519.4% during the 3rd quarter. Lord Abbett & CO. LLC now owns 1,650,362 shares of the company's stock valued at $108,792,000 after buying an additional 1,548,450 shares in the last quarter.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Jefferies Financial Group upped their target price on shares of Reddit from $120.00 to $175.00 and gave the stock a "buy" rating in a research report on Monday, November 25th. Wells Fargo & Company increased their price objective on shares of Reddit from $206.00 to $215.00 and gave the company an "overweight" rating in a report on Thursday, February 13th. JMP Securities lifted their target price on Reddit from $190.00 to $200.00 and gave the stock a "market outperform" rating in a report on Thursday, February 13th. Roth Capital lowered Reddit from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, January 22nd. Finally, B. Riley raised their price target on Reddit from $112.00 to $187.00 and gave the company a "buy" rating in a report on Tuesday, January 14th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $175.95.

Reddit Stock Performance

RDDT stock traded down $28.05 during midday trading on Monday, reaching $105.94. The company's stock had a trading volume of 20,835,860 shares, compared to its average volume of 5,541,927. Reddit, Inc. has a 1 year low of $37.35 and a 1 year high of $230.41. The firm has a market capitalization of $19.16 billion and a price-to-earnings ratio of -13.70. The stock has a fifty day simple moving average of $181.61 and a two-hundred day simple moving average of $131.51.

Reddit (NYSE:RDDT - Get Free Report) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.24 by $0.12. Reddit had a negative net margin of 37.25% and a negative return on equity of 24.71%. As a group, analysts forecast that Reddit, Inc. will post 1.12 EPS for the current fiscal year.

Insider Activity

In other Reddit news, CTO Christopher Brian Slowe sold 5,000 shares of the firm's stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $184.15, for a total transaction of $920,750.00. Following the transaction, the chief technology officer now owns 35,252 shares of the company's stock, valued at approximately $6,491,655.80. This trade represents a 12.42 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Steve Ladd Huffman sold 14,000 shares of the company's stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $176.20, for a total transaction of $2,466,800.00. Following the completion of the sale, the chief executive officer now directly owns 620,971 shares of the company's stock, valued at $109,415,090.20. The trade was a 2.20 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 393,386 shares of company stock valued at $66,673,388.

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.