Reddit, Inc. (NYSE:RDDT) Shares Sold by Woodson Capital Management LP

Woodson Capital Management LP lessened its stake in shares of Reddit, Inc. (NYSE:RDDT - Free Report) by 26.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 210,000 shares of the company's stock after selling 74,980 shares during the quarter. Reddit comprises about 5.6% of Woodson Capital Management LP's investment portfolio, making the stock its 4th biggest position. Woodson Capital Management LP owned about 0.12% of Reddit worth $34,322,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the stock. Park Avenue Securities LLC purchased a new position in shares of Reddit in the 4th quarter worth $993,000. Grove Bank & Trust purchased a new position in shares of Reddit in the 4th quarter worth $384,000. LVW Advisors LLC purchased a new position in shares of Reddit in the 4th quarter worth $327,000. UMB Bank n.a. raised its position in shares of Reddit by 10.8% in the 4th quarter. UMB Bank n.a. now owns 1,533 shares of the company's stock worth $251,000 after buying an additional 150 shares during the period. Finally, Harbor Investment Advisory LLC purchased a new position in shares of Reddit in the 4th quarter worth $147,000.

Reddit Stock Up 2.8%

Shares of Reddit stock traded up $2.71 during trading hours on Friday, hitting $101.03. 6,742,771 shares of the company's stock traded hands, compared to its average volume of 6,070,430. The stock has a 50 day simple moving average of $107.27 and a 200-day simple moving average of $145.19. The company has a market cap of $18.64 billion, a PE ratio of -13.07, a PEG ratio of 4.72 and a beta of 2.90. Reddit, Inc. has a twelve month low of $49.13 and a twelve month high of $230.41.

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

Insider Buying and Selling

In related news, CFO Andrew Vollero sold 48,122 shares of Reddit stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $162.80, for a total value of $7,834,261.60. Following the completion of the transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Christopher Brian Slowe sold 26,000 shares of Reddit stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $98.43, for a total value of $2,559,180.00. Following the completion of the transaction, the chief technology officer now owns 251,373 shares of the company's stock, valued at $24,742,644.39. This trade represents a 9.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 851,261 shares of company stock worth $105,096,214.

Analyst Ratings Changes

Several brokerages recently weighed in on RDDT. Oppenheimer began coverage on Reddit in a research report on Wednesday, April 16th. They issued an "outperform" rating and a $125.00 target price on the stock. Truist Financial assumed coverage on Reddit in a research report on Monday, April 7th. They issued a "buy" rating and a $150.00 price objective on the stock. Redburn Partners set a $75.00 price objective on Reddit in a research report on Monday, March 17th. Citigroup raised their price objective on Reddit from $150.00 to $158.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. Finally, Needham & Company LLC raised their price objective on Reddit from $135.00 to $145.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $140.45.

Reddit 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.