Stifel Financial Corp Makes New $1.39 Million Investment in Reddit, Inc. (NYSE:RDDT)

Stifel Financial Corp bought a new position in Reddit, Inc. (NYSE:RDDT - Free Report) during the fourth quarter, according to the company in its most recent filing with the SEC. The firm bought 8,515 shares of the company's stock, valued at approximately $1,392,000.

Other large investors also recently added to or reduced their stakes in the company. Ridgewood Investments LLC increased its position 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 acquiring an additional 100 shares during the period. Proficio Capital Partners LLC increased its position in shares of 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 acquiring an additional 120 shares during the period. Farther Finance Advisors LLC increased its position in shares of 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 acquiring an additional 147 shares during the period. UMB Bank n.a. increased its position in shares of 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 acquiring an additional 150 shares during the period. Finally, Foundations Investment Advisors LLC increased its position in shares of Reddit by 3.0% in the fourth quarter. Foundations Investment Advisors LLC now owns 5,325 shares of the company's stock valued at $870,000 after acquiring an additional 155 shares during the period.

Reddit Stock Performance

Shares of NYSE:RDDT traded up $4.30 during trading on Tuesday, reaching $115.51. 3,101,043 shares of the stock traded hands, compared to its average volume of 7,621,090. The stock has a 50-day moving average of $110.40 and a two-hundred day moving average of $145.44. Reddit, Inc. has a 52-week low of $49.13 and a 52-week high of $230.41. The stock has a market cap of $20.90 billion, a P/E ratio of -14.94, a price-to-earnings-growth ratio of 4.72 and a beta of 2.90.

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, beating analysts' consensus estimates of $0.02 by $0.11. The company had revenue of $392.36 million for 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%. The firm's revenue for the quarter was up 61.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($8.19) earnings per share. Sell-side analysts expect that Reddit, Inc. will post 1.12 earnings per share for the current year.

Insider Activity at Reddit

In other Reddit news, CAO Michelle Marie Reynolds sold 11,965 shares of the stock in a transaction that occurred on Tuesday, March 4th. The shares were 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 directly owns 48,418 shares in the company, valued at approximately $7,621,477.38. This trade represents a 19.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Benjamin Seong Lee sold 92,299 shares of Reddit stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $157.35, for a total value of $14,523,247.65. Following the transaction, the insider now owns 115,001 shares in the company, valued at $18,095,407.35. This trade represents a 44.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 725,270 shares of company stock worth $95,789,365 over the last quarter.

Wall Street Analyst Weigh In

RDDT has been the topic of a number of research reports. Seaport Res Ptn raised shares of Reddit from a "hold" rating to a "strong-buy" rating in a research note on Monday, May 5th. Roth Mkm lifted their target price on shares of Reddit from $120.00 to $130.00 and gave the company a "neutral" rating in a research note on Friday, May 2nd. Wells Fargo & Company lifted their target price on shares of Reddit from $158.00 to $168.00 and gave the company an "overweight" rating in a research note on Friday, May 2nd. Citigroup lifted their target price on shares of Reddit from $150.00 to $158.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. Finally, The Goldman Sachs Group lifted their target price on shares of Reddit from $124.00 to $140.00 and gave the company a "neutral" rating in a research note on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, Reddit currently has an average rating of "Moderate Buy" and an average target price 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.