80,349 Shares in Reddit, Inc. (NYSE:RDDT) Purchased by Tredje AP fonden

Tredje AP fonden purchased a new position in shares of Reddit, Inc. (NYSE:RDDT) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 80,349 shares of the company’s stock, valued at approximately $13,132,000.

A number of other large investors have also recently made changes to their positions in RDDT. Jennison Associates LLC purchased a new stake in Reddit in the 4th quarter valued at about $494,861,000. Renaissance Capital LLC boosted its position in Reddit by 14.2% in the 4th quarter. Renaissance Capital LLC now owns 31,236 shares of the company’s stock valued at $5,105,000 after buying an additional 3,892 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Reddit by 27.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 642,456 shares of the company’s stock valued at $105,003,000 after buying an additional 139,135 shares during the period. Assetmark Inc. boosted its position in Reddit by 1,537,566.7% in the 4th quarter. Assetmark Inc. now owns 46,130 shares of the company’s stock valued at $7,539,000 after buying an additional 46,127 shares during the period. Finally, Wellington Management Group LLP boosted its position in Reddit by 3,640.5% in the 3rd quarter. Wellington Management Group LLP now owns 255,325 shares of the company’s stock valued at $16,831,000 after buying an additional 248,499 shares during the period.

Reddit Stock Down 7.3 %

Shares of NYSE RDDT opened at $121.12 on Friday. The company’s 50-day simple moving average is $178.06 and its 200-day simple moving average is $132.22. Reddit, Inc. has a 52-week low of $37.35 and a 52-week high of $230.41. The firm has a market cap of $21.91 billion and a price-to-earnings ratio of -15.67.

Reddit (NYSE:RDDT) last issued its earnings results on Wednesday, February 12th. The company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.12. Reddit had a negative net margin of 37.25% and a negative return on equity of 24.71%. Equities research analysts anticipate that Reddit, Inc. will post 1.12 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

RDDT has been the subject of several recent research reports. The Goldman Sachs Group boosted their price target on shares of Reddit from $105.00 to $176.00 and gave the company a “neutral” rating in a report on Tuesday, January 14th. B. Riley boosted their price target on shares of Reddit from $112.00 to $187.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. Roth Capital lowered shares of Reddit from a “strong-buy” rating to a “hold” rating in a report on Wednesday, January 22nd. Raymond James reduced their price target on shares of Reddit from $250.00 to $200.00 and set a “strong-buy” rating for the company in a report on Wednesday. Finally, Robert W. Baird boosted their price target on shares of Reddit from $160.00 to $185.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $173.45.

Insider Buying and Selling at Reddit

In related news, insider Benjamin Seong Lee sold 92,299 shares of Reddit stock in a transaction that occurred 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 completion of the transaction, the insider now owns 115,001 shares in the company, valued at approximately $18,095,407.35. The trade was a 44.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Andrew Vollero sold 48,122 shares of Reddit stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $162.80, for a total transaction of $7,834,261.60. Following the completion of the transaction, the chief financial officer now owns 599,295 shares of the company’s stock, valued at $97,565,226. This trade represents a 7.43 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 393,386 shares of company stock worth $66,673,388 over the last three months.

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.