Reddit, Inc. (NYSE:RDDT) Holdings Decreased by Bamco Inc. NY

Bamco Inc. NY reduced its holdings in Reddit, Inc. (NYSE:RDDT - Free Report) by 20.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 176,346 shares of the company's stock after selling 44,908 shares during the period. Bamco Inc. NY owned about 0.10% of Reddit worth $28,822,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of RDDT. Banque Transatlantique SA purchased a new stake in shares of Reddit in the fourth quarter worth approximately $80,000. Bayesian Capital Management LP acquired a new position in Reddit in the 4th quarter valued at approximately $5,769,000. BNP Paribas Financial Markets lifted its position in Reddit by 55.4% in the 4th quarter. BNP Paribas Financial Markets now owns 648,006 shares of the company's stock worth $105,910,000 after buying an additional 230,959 shares in the last quarter. Algert Global LLC acquired a new stake in shares of Reddit during the 4th quarter valued at $5,823,000. Finally, Aptus Capital Advisors LLC acquired a new position in shares of Reddit in the fourth quarter worth $2,651,000.

Insider Transactions at Reddit

In related news, CEO Steve Ladd Huffman sold 14,000 shares of the stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 614,394 shares in the company, valued at $115,370,905.32. This trade represents a 2.23 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Jennifer L. Wong sold 33,334 shares of Reddit stock in a transaction dated Wednesday, April 16th. The shares were sold at an average price of $93.99, for a total transaction of $3,133,062.66. Following the transaction, the chief operating officer now directly owns 1,466,119 shares of the company's stock, valued at $137,800,524.81. This represents a 2.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 711,270 shares of company stock valued at $94,239,985.

Reddit Trading Down 4.9 %

Shares of NYSE RDDT opened at $113.01 on Monday. The firm has a market capitalization of $20.44 billion, a price-to-earnings ratio of -14.62, a PEG ratio of 4.72 and a beta of 2.89. Reddit, Inc. has a one year low of $46.75 and a one year high of $230.41. The business has a fifty day simple moving average of $116.82 and a 200 day simple moving average of $144.15.

Reddit (NYSE:RDDT - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The company reported $0.13 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.02 by $0.11. The company had revenue of $392.36 million during the quarter, compared to analysts' expectations of $370.55 million. Reddit had a negative net margin of 37.25% and a negative return on equity of 24.71%. The business's revenue was up 61.5% on a year-over-year basis. During the same quarter in the prior year, the company posted ($8.19) EPS. On average, research analysts anticipate that Reddit, Inc. will post 1.12 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Bank of America reduced their price target on Reddit from $190.00 to $110.00 and set a "neutral" rating for the company in a report on Wednesday, April 9th. B. Riley reiterated a "buy" rating and issued a $220.00 target price (down from $222.00) on shares of Reddit in a research note on Friday. JMP Securities restated a "market outperform" rating and set a $180.00 price target on shares of Reddit in a research note on Friday. Robert W. Baird upped their price objective on shares of Reddit from $160.00 to $185.00 and gave the stock a "neutral" rating in a report on Thursday, February 13th. Finally, Loop Capital restated a "buy" rating and set a $210.00 target price on shares of Reddit in a report on Tuesday, March 11th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Reddit has a consensus rating of "Moderate Buy" and an average price target of $142.30.

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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