Tanager Wealth Management LLP Has $1.12 Million Holdings in Reddit Inc. $RDDT

Key Points

• Tanager Wealth Management LLP cut its Reddit stake by 69.2% in Q4 and now holds 4,879 shares worth about $1.12 million.
• Insider activity was mixed: Director Sarah E. Farrell bought 43,800 shares (~$6.55M) while CEO Steve Huffman sold 18,000 shares (~$2.50M); insiders still own 34.25% of the stock.
• Reddit reported strong results — $1.24 EPS vs $0.96 expected and revenue of $725.6M (up 69.7% YoY) — and analysts hold a consensus "Moderate Buy" rating with a $237.46 target.

Tanager Wealth Management LLP trimmed its holdings in shares of Reddit Inc. (NYSE:RDDT - Free Report) by 69.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,879 shares of the company's stock after selling 10,944 shares during the period. Tanager Wealth Management LLP's holdings in Reddit were worth $1,122,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. NewEdge Advisors LLC grew its holdings in shares of Reddit by 143.3% during the first quarter. NewEdge Advisors LLC now owns 7,982 shares of the company's stock worth $837,000 after purchasing an additional 4,701 shares during the last quarter. Empowered Funds LLC bought a new position in shares of Reddit in the first quarter valued at about $213,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Reddit by 106.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 216,960 shares of the company's stock worth $22,759,000 after buying an additional 111,780 shares in the last quarter. Focus Partners Wealth grew its holdings in Reddit by 40.8% during the 1st quarter. Focus Partners Wealth now owns 10,224 shares of the company's stock worth $1,073,000 after acquiring an additional 2,965 shares during the last quarter. Finally, Geneos Wealth Management Inc. grew its holdings in Reddit by 344.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 369 shares of the company's stock worth $39,000 after acquiring an additional 286 shares during the last quarter.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Argus set a $300.00 target price on shares of Reddit in a research report on Friday, January 9th. Zacks Research lowered Reddit from a "strong-buy" rating to a "hold" rating in a research report on Friday, December 26th. Morgan Stanley set a $240.00 target price on Reddit in a research report on Friday, February 6th. Wells Fargo & Company assumed coverage on Reddit in a report on Tuesday, April 7th. They issued an "equal weight" rating and a $149.00 price target on the stock. Finally, Jefferies Financial Group dropped their price objective on Reddit from $285.00 to $250.00 and set a "buy" rating for the company in a report on Tuesday, March 10th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and eleven have assigned a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $237.46.

Insider Buying and Selling

In other news, Director Sarah E. Farrell bought 43,800 shares of the business's stock in a transaction on Tuesday, February 10th. The shares were bought at an average cost of $149.52 per share, for a total transaction of $6,548,976.00. Following the completion of the acquisition, the director owned 43,800 shares in the company, valued at approximately $6,548,976. This trade represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Steve Ladd Huffman sold 18,000 shares of Reddit stock in a transaction on Friday, February 13th. The stock was sold at an average price of $138.81, for a total transaction of $2,498,580.00. Following the transaction, the chief executive officer directly owned 448,576 shares in the company, valued at approximately $62,266,834.56. This represents a 3.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have purchased 61,000 shares of company stock valued at $8,870,815 and have sold 312,441 shares valued at $49,664,410. 34.25% of the stock is currently owned by company insiders.

Reddit Stock Up 0.6%

RDDT stock opened at $163.41 on Friday. Reddit Inc. has a twelve month low of $90.78 and a twelve month high of $282.95. The company has a market cap of $31.22 billion, a P/E ratio of 62.37, a price-to-earnings-growth ratio of 1.18 and a beta of 2.40. The business's fifty day moving average is $141.63 and its 200-day moving average is $187.55.

Reddit (NYSE:RDDT - Get Free Report) last announced its quarterly earnings data on Thursday, February 5th. The company reported $1.24 EPS for the quarter, topping analysts' consensus estimates of $0.96 by $0.28. The business had revenue of $725.61 million during the quarter, compared to analysts' expectations of $665.80 million. Reddit had a return on equity of 20.89% and a net margin of 24.05%.The firm's quarterly revenue was up 69.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.36 earnings per share. Research analysts anticipate that Reddit Inc. will post 1.12 earnings per share for the current fiscal year.

Reddit Profile

Reddit is an online social news aggregation, discussion and content-sharing platform organized around user-created communities called "subreddits," each focused on a particular topic or interest. Registered users submit links, text posts, images and video, and community members vote and comment to surface popular content. The site is accessed via its web platform and mobile apps for iOS and Android, and it supports live events such as Ask Me Anything (AMA) sessions and community-driven discussions.

Founded in 2005 by Steve Huffman and Alexis Ohanian, Reddit is headquartered in San Francisco and serves a global audience with particularly large user bases in the United States and other English-speaking markets.

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