Hsbc Holdings PLC Makes New $958,000 Investment in Reddit, Inc. (NYSE:RDDT)

Hsbc Holdings PLC acquired a new stake in Reddit, Inc. (NYSE:RDDT - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 5,730 shares of the company's stock, valued at approximately $958,000.

Several other institutional investors also recently bought and sold shares of RDDT. Everence Capital Management Inc. acquired a new position in shares of Reddit in the 4th quarter valued at $531,000. Watts Gwilliam & Co. LLC purchased a new position in Reddit during the fourth quarter worth about $337,000. Ridgewood Investments LLC boosted its stake in shares of Reddit by 100.0% in the fourth quarter. Ridgewood Investments LLC now owns 200 shares of the company's stock valued at $33,000 after purchasing an additional 100 shares during the period. Westmount Partners LLC purchased a new stake in shares of Reddit during the fourth quarter worth approximately $391,000. Finally, Sivia Capital Partners LLC raised its stake in Reddit by 277.6% in the fourth quarter. Sivia Capital Partners LLC now owns 184,577 shares of the company's stock valued at $30,167,000 after buying an additional 135,700 shares in the last quarter.

Analyst Upgrades and Downgrades

RDDT has been the topic of a number of research reports. Seaport Res Ptn upgraded shares of Reddit from a "hold" rating to a "strong-buy" rating in a research report on Monday. Roth Capital reissued a "neutral" rating on shares of Reddit in a report on Friday, May 2nd. Piper Sandler reaffirmed an "overweight" rating and set a $150.00 price target (up previously from $140.00) on shares of Reddit in a research note on Friday, May 2nd. Redburn Partners set a $75.00 price target on Reddit in a report on Monday, March 17th. Finally, Morgan Stanley lowered their target price on shares of Reddit from $210.00 to $140.00 and set an "overweight" rating for the company in a research note on Thursday, April 17th. One analyst has rated the stock with a sell rating, seven have given a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Reddit presently has an average rating of "Moderate Buy" and an average price target of $140.35.

Insider Activity at Reddit

In other Reddit news, CEO Steve Ladd Huffman sold 14,000 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $187.78, for a total transaction of $2,628,920.00. Following the transaction, the chief executive officer now owns 614,394 shares of the company's stock, valued at $115,370,905.32. This trade represents a 2.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Andrew Vollero sold 48,122 shares of the business's stock in a transaction 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 sale, the chief financial officer now owns 599,295 shares of the company's stock, valued at approximately $97,565,226. The trade was a 7.43 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 725,270 shares of company stock worth $95,789,365.

Reddit Stock Performance

Reddit stock traded down $0.92 during mid-day trading on Friday, hitting $106.91. 3,203,709 shares of the company traded hands, compared to its average volume of 5,846,370. The stock has a fifty day moving average price of $112.57 and a 200-day moving average price of $144.09. Reddit, Inc. has a one year low of $48.25 and a one year high of $230.41. The stock has a market cap of $19.34 billion, a price-to-earnings ratio of -13.83, a price-to-earnings-growth ratio of 4.72 and a beta of 2.90.

Reddit (NYSE:RDDT - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported $0.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 net margin of 37.25% and a negative return on equity of 24.71%. Reddit's revenue was up 61.5% on a year-over-year basis. During the same period in the prior year, the firm earned ($8.19) earnings per share. Sell-side analysts predict that Reddit, Inc. will post 1.12 EPS for the current year.

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.