Jump Financial LLC Sells 235,332 Shares of Reddit, Inc. (NYSE:RDDT)

Jump Financial LLC trimmed its position in shares of Reddit, Inc. (NYSE:RDDT - Free Report) by 70.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 101,073 shares of the company's stock after selling 235,332 shares during the period. Jump Financial LLC owned approximately 0.06% of Reddit worth $16,519,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. increased its holdings in Reddit by 184.2% in the fourth quarter. Vanguard Group Inc. now owns 9,181,390 shares of the company's stock valued at $1,500,606,000 after buying an additional 5,950,909 shares during the last quarter. Jennison Associates LLC bought a new stake in shares of Reddit during the fourth quarter valued at approximately $494,861,000. Alliancebernstein L.P. grew its stake in shares of Reddit by 1,011.1% in the fourth quarter. Alliancebernstein L.P. now owns 2,788,758 shares of the company's stock worth $455,795,000 after purchasing an additional 2,537,768 shares in the last quarter. Brooklyn FI LLC acquired a new position in Reddit during the 4th quarter valued at about $303,082,000. Finally, GQG Partners LLC bought a new stake in Reddit during the fourth quarter worth approximately $271,539,000.

Insider Buying and Selling at Reddit

In other news, CEO Steve Ladd Huffman sold 14,000 shares of Reddit stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $201.96, for a total value of $2,827,440.00. Following the transaction, the chief executive officer now directly owns 614,394 shares in the company, valued at approximately $124,083,012.24. The trade was 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, CAO Michelle Marie Reynolds sold 11,965 shares of the company's stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $157.41, for a total value of $1,883,410.65. Following the transaction, the chief accounting officer now owns 48,418 shares of the company's stock, valued at approximately $7,621,477.38. This trade represents a 19.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 714,202 shares of company stock worth $96,326,958 over the last three months.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on RDDT shares. B. Riley lifted their target price on Reddit from $112.00 to $187.00 and gave the stock a "buy" rating in a report on Tuesday, January 14th. Oppenheimer assumed coverage on shares of Reddit in a report on Wednesday. They issued an "outperform" rating and a $125.00 target price on the stock. Redburn Atlantic started coverage on shares of Reddit in a report on Monday, March 17th. They set a "sell" rating and a $75.00 target price for the company. Wells Fargo & Company dropped their price target on Reddit from $215.00 to $158.00 and set an "overweight" rating on the stock in a report on Monday, March 31st. Finally, Truist Financial initiated coverage on Reddit in a research note on Monday, April 7th. They set a "buy" rating and a $150.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $142.22.

Reddit Stock Performance

Shares of Reddit stock traded up $0.66 during trading on Friday, hitting $96.04. 2,852,484 shares of the stock traded hands, compared to its average volume of 5,533,051. The company has a fifty day moving average price of $131.49 and a two-hundred day moving average price of $140.88. Reddit, Inc. has a twelve month low of $40.51 and a twelve month high of $230.41. The stock has a market cap of $17.37 billion and a P/E ratio of -12.42.

Reddit (NYSE:RDDT - Get Free Report) last posted its earnings results on Wednesday, February 12th. The company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.24 by $0.12. Reddit had a negative net margin of 37.25% and a negative return on equity of 24.71%. On average, equities research analysts expect that Reddit, Inc. will post 1.12 EPS for the current fiscal 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.