1 day Ago By ABMN Staff
Cerity Partners LLC grew its stake in Reddit, Inc. ( NYSE:RDDT – Free Report ) by 34.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC).
The institutional investor owned 9,099 shares of the company’s stock after buying an additional 2,330 shares during the period. Cerity Partners LLC’s holdings in Reddit were worth $1,487,000 at the end of the most recent reporting period. A number of other institutional investors have also recently made changes to their positions in RDDT.
Vanguard Group Inc. raised its position in Reddit by 184.2% during the fourth quarter.
Vanguard Group Inc. now owns 9,181,390 shares of the company’s stock valued at $1,500,606,000 after purchasing an additional 5,950,909 shares in the last quarter. Jennison Associates LLC purchased a new stake in Reddit in the fourth quarter worth approximately $494,861,000.
Alliancebernstein L.P. boosted its stake in 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 buying an additional 2,537,768 shares in the last quarter. Brooklyn FI LLC bought a new position in Reddit during the fourth quarter valued at approximately $303,082,000. Finally, GQG Partners LLC purchased a new position in shares of Reddit during the fourth quarter worth approximately $271,539,000.
Reddit Stock Up 0.7 % Shares of RDDT stock opened at $96.04 on Friday.
The stock has a market cap of $17.37 billion and a P/E ratio of -12.42.
The company’s fifty day simple moving average is $133.84 and its two-hundred day simple moving average is $140.17.
Reddit, Inc. has a 52 week low of $37.35 and a 52 week high of $230.
41. Insiders Place Their Bets In related news, CAO Michelle Marie Reynolds sold 11,965 shares of the stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $157.
41, for a total transaction of $1,883,410.65. Following the sale, the chief accounting officer now owns 48,418 shares in the company, valued at approximately $7,621,477.
38. This represents a 19.82 % decrease in their position.
The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink . Also, CEO Steve Ladd Huffman sold 124,408 shares of the firm’s stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $96.
65, for a total value of $12,024,033.20. Following the completion of the sale, the chief executive officer now owns 577,013 shares of the company’s stock, valued at approximately $55,768,306.
45. This represents a 17.74 % decrease in their ownership of the stock.
The disclosure for this sale can be found here . Insiders sold 680,868 shares of company stock valued at $93,193,895 in the last three months. Analysts Set New Price Targets Several equities research analysts recently weighed in on the company.
JMP Securities set a $155.00 target price on Reddit in a report on Friday, March 28th. Loop Capital reissued a “buy” rating and issued a $210.
00 price target on shares of Reddit in a report on Tuesday, March 11th. The Goldman Sachs Group lowered their price objective on shares of Reddit from $185.00 to $124.
00 and set a “neutral” rating for the company in a research note on Monday. JPMorgan Chase & Co. reduced their price target on Reddit from $185.
00 to $110.00 and set a “neutral” rating on the stock in a report on Tuesday, April 8th. Finally, Redburn Partners set a $75.
00 price objective on Reddit in a report on Monday, March 17th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $142.
22. Read Our Latest Stock Analysis on Reddit Reddit Company Profile ( Free Report ) 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. See Also Want to see what other hedge funds are holding RDDT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Reddit, Inc.
( NYSE:RDDT – Free Report ). Receive News & Ratings for Reddit Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Reddit and related companies with MarketBeat.com's FREE daily email newsletter .
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