9,656 Shares in Reddit, Inc. (NYSE:RDDT) Purchased by LMR Partners LLP

LMR Partners LLP bought a new position in shares of Reddit, Inc. (NYSE:RDDT - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 9,656 shares of the company's stock, valued at approximately $1,578,000.

Several other institutional investors have also recently bought and sold shares of RDDT. Proficio Capital Partners LLC lifted its stake in Reddit by 2.1% in the fourth quarter. Proficio Capital Partners LLC now owns 5,908 shares of the company's stock valued at $966,000 after buying an additional 120 shares during the period. Farther Finance Advisors LLC lifted its stake in Reddit by 148.5% in the fourth quarter. Farther Finance Advisors LLC now owns 246 shares of the company's stock valued at $40,000 after buying an additional 147 shares during the period. UMB Bank n.a. lifted its stake in Reddit by 10.8% in the fourth quarter. UMB Bank n.a. now owns 1,533 shares of the company's stock valued at $251,000 after buying an additional 150 shares during the period. Foundations Investment Advisors LLC raised its position in shares of Reddit by 3.0% during the fourth quarter. Foundations Investment Advisors LLC now owns 5,325 shares of the company's stock worth $870,000 after purchasing an additional 155 shares during the period. Finally, Plato Investment Management Ltd acquired a new position in shares of Reddit during the fourth quarter worth approximately $27,000.

Insider Activity at Reddit

In other Reddit news, CEO Steve Ladd Huffman sold 14,000 shares of Reddit stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $187.78, for a total transaction of $2,628,920.00. Following the completion of the transaction, the chief executive officer now owns 614,394 shares in the company, valued at approximately $115,370,905.32. The trade was a 2.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director David C. Habiger acquired 774 shares of the stock in a transaction on Wednesday, March 12th. The shares were bought at an average price of $130.36 per share, with a total value of $100,898.64. Following the purchase, the director now directly owns 30,808 shares of the company's stock, valued at $4,016,130.88. The trade was a 2.58% increase in their position. The disclosure for this purchase can be found here. Insiders have sold 725,270 shares of company stock worth $95,789,365 over the last ninety days.

Reddit Stock Performance

RDDT traded down $0.24 on Friday, hitting $113.35. 8,328,996 shares of the company were exchanged, compared to its average volume of 5,974,089. The stock 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. Reddit, Inc. has a 12 month low of $49.13 and a 12 month high of $230.41. The firm has a fifty day simple moving average of $109.40 and a two-hundred day simple moving average of $145.52.

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

Analysts Set New Price Targets

RDDT has been the topic of a number of research reports. Oppenheimer initiated coverage on Reddit in a research report on Wednesday, April 16th. They set an "outperform" rating and a $125.00 target price on the stock. Roth Mkm increased their price target on Reddit from $120.00 to $130.00 and gave the company a "neutral" rating in a research report on Friday, May 2nd. Redburn Atlantic assumed coverage on Reddit in a research report on Monday, March 17th. They issued a "sell" rating and a $75.00 price target for the company. Morgan Stanley lowered their price target on Reddit from $210.00 to $140.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. Finally, Redburn Partners set a $75.00 price target on Reddit in a research report on Monday, March 17th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $140.35.

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.