5,611 Shares in Reddit, Inc. (NYSE:RDDT) Acquired by Jefferies Financial Group Inc.

Jefferies Financial Group Inc. purchased a new stake in Reddit, Inc. (NYSE:RDDT - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 5,611 shares of the company's stock, valued at approximately $917,000.

A number of other large investors also recently modified their holdings of the company. Plato Investment Management Ltd acquired a new stake in Reddit in the fourth quarter valued at $27,000. EverSource Wealth Advisors LLC acquired a new stake in Reddit during the 4th quarter worth about $28,000. Farmers & Merchants Investments Inc. acquired a new stake in Reddit during the 4th quarter worth about $33,000. Bogart Wealth LLC acquired a new stake in Reddit during the 4th quarter worth about $33,000. Finally, Spire Wealth Management acquired a new stake in Reddit during the 4th quarter worth about $35,000.

Reddit Trading Down 0.2%

NYSE RDDT traded down $0.24 during trading hours on Friday, hitting $113.35. The company's stock had a trading volume of 8,328,996 shares, compared to its average volume of 5,937,313. Reddit, Inc. has a 52 week low of $49.13 and a 52 week high of $230.41. The company has a market capitalization of $20.92 billion, a PE ratio of -14.66, a price-to-earnings-growth ratio of 4.72 and a beta of 2.90. The company's 50-day simple moving average is $109.40 and its two-hundred day simple moving average is $145.72.

Reddit (NYSE:RDDT - Get Free Report) last announced its quarterly 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. Reddit had a negative net margin of 37.25% and a negative return on equity of 24.71%. The business had revenue of $392.36 million for the quarter, compared to analysts' expectations of $370.55 million. During the same quarter last year, the firm earned ($8.19) EPS. The firm's revenue for the quarter was up 61.5% compared to the same quarter last year. Research analysts anticipate that Reddit, Inc. will post 1.12 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on RDDT. The Goldman Sachs Group increased their price target on Reddit from $124.00 to $140.00 and gave the stock a "neutral" rating in a report on Friday, May 2nd. Oppenheimer began coverage on Reddit in a report on Wednesday, April 16th. They set an "outperform" rating and a $125.00 price target for the company. Redburn Partners set a $75.00 price target on Reddit in a report on Monday, March 17th. Needham & Company LLC increased their price target on Reddit from $135.00 to $145.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. Finally, Redburn Atlantic began coverage on Reddit in a report on Monday, March 17th. They set a "sell" rating and a $75.00 price target for the company. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $143.77.

Insiders Place Their Bets

In other Reddit news, CEO Steve Ladd Huffman sold 14,000 shares of Reddit 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Jennifer L. Wong sold 33,333 shares of Reddit stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $187.72, for a total transaction of $6,257,270.76. Following the transaction, the chief operating officer now directly owns 1,504,297 shares in the company, valued at approximately $282,386,632.84. This represents a 2.17% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 725,270 shares of company stock valued at $95,789,365 in the last 90 days.

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.