WD Rutherford LLC Makes New Investment in Reddit, Inc. (NYSE:RDDT)

WD Rutherford LLC purchased a new position in shares of Reddit, Inc. (NYSE:RDDT - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,160 shares of the company's stock, valued at approximately $208,000.

A number of other large investors also recently made changes to their positions in RDDT. QRG Capital Management Inc. purchased a new stake in Reddit in the first quarter valued at approximately $368,000. Sowell Financial Services LLC acquired a new position in shares of Reddit in the 1st quarter valued at $739,000. Janney Montgomery Scott LLC grew its stake in shares of Reddit by 4.5% during the 1st quarter. Janney Montgomery Scott LLC now owns 9,183 shares of the company's stock valued at $963,000 after buying an additional 397 shares during the period. Good Life Advisors LLC acquired a new stake in shares of Reddit during the 1st quarter worth $1,081,000. Finally, Brighton Jones LLC boosted its holdings in Reddit by 10.2% in the first quarter. Brighton Jones LLC now owns 42,546 shares of the company's stock valued at $4,463,000 after acquiring an additional 3,934 shares during the last quarter.

Analyst Ratings Changes

Several brokerages have commented on RDDT. Redburn Partners set a $75.00 price target on Reddit in a research note on Monday, March 17th. Wells Fargo & Company set a $115.00 target price on Reddit and gave the stock an "equal weight" rating in a report on Monday, May 19th. Seaport Res Ptn upgraded shares of Reddit from a "hold" rating to a "strong-buy" rating in a report on Monday, May 5th. Guggenheim reduced their price target 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, JMP Securities reiterated a "market outperform" rating and set a $180.00 price objective on shares of Reddit in a research note on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $139.35.

Reddit Stock Performance

NYSE:RDDT opened at $126.33 on Tuesday. The company has a market capitalization of $23.31 billion, a price-to-earnings ratio of -16.34, a price-to-earnings-growth ratio of 4.72 and a beta of 1.99. Reddit, Inc. has a one year low of $49.13 and a one year high of $230.41. The stock has a 50-day simple moving average of $109.63 and a 200 day simple moving average of $142.72.

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

Insiders Place Their Bets

In related news, CTO Christopher Brian Slowe sold 11,000 shares of the firm's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $124.08, for a total value of $1,364,880.00. Following the sale, the chief technology officer now owns 281,213 shares of the company's stock, valued at approximately $34,892,909.04. This trade represents a 3.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Benjamin Seong Lee sold 6,854 shares of the company's stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $98.42, for a total value of $674,570.68. Following the transaction, the insider now owns 99,277 shares of the company's stock, valued at approximately $9,770,842.34. The trade was a 6.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 520,134 shares of company stock valued at $56,714,433 over the last 90 days. 34.25% of the stock is owned by company insiders.

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.

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