1 week Ago By ABMN Staff
Prudential Financial Inc. purchased a new stake in shares of Reddit, Inc. ( NYSE:RDDT – Free Report ) during the 4th quarter, according to the company in its most recent 13F filing with the SEC.
The institutional investor purchased 2,275 shares of the company’s stock, valued at approximately $351,000. A number of other institutional investors also recently bought and sold shares of the stock. Jennison Associates LLC purchased a new stake in shares of Reddit in the fourth quarter valued at $494,861,000.
Renaissance Capital LLC grew its holdings in Reddit by 14.2% during the 4th quarter. Renaissance Capital LLC now owns 31,236 shares of the company’s stock valued at $5,105,000 after purchasing an additional 3,892 shares during the last quarter.
Charles Schwab Investment Management Inc. raised 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 worth $105,003,000 after purchasing an additional 139,135 shares during the period. Assetmark Inc.
raised 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 worth $7,539,000 after purchasing an additional 46,127 shares during the period. Finally, Wellington Management Group LLP lifted its stake in Reddit by 3,640.5% in the third quarter.
Wellington Management Group LLP now owns 255,325 shares of the company’s stock worth $16,831,000 after purchasing an additional 248,499 shares during the last quarter. Analyst Ratings Changes Several equities analysts have commented on the company. Roth Mkm downgraded Reddit from a “buy” rating to a “neutral” rating and upped their price objective for the company from $116.
00 to $195.00 in a research report on Wednesday, January 22nd. Truist Financial initiated coverage on shares of Reddit in a research note on Monday.
They set a “buy” rating and a $150.00 target price for the company. Seaport Res Ptn raised shares of Reddit to a “hold” rating in a research note on Thursday, February 6th.
Loop Capital reissued a “buy” rating and issued a $210.00 price objective on shares of Reddit in a research report on Tuesday, March 11th. Finally, Robert W.
Baird raised their target price on shares of Reddit from $160.00 to $185.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th.
Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $151.
73. Reddit Stock Performance NYSE:RDDT opened at $101.77 on Friday.
The company’s 50-day simple moving average is $146.17 and its 200-day simple moving average is $139.62.
Reddit, Inc. has a fifty-two week low of $37.35 and a fifty-two week high of $230.
41. The stock has a market capitalization of $18.41 billion and a P/E ratio of -13.
16. Reddit ( NYSE:RDDT – Get Free Report ) last announced its earnings results on Wednesday, February 12th. The company reported $0.
36 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.12.
Reddit had a negative net margin of 37.25% and a negative return on equity of 24.71%.
On average, research analysts forecast that Reddit, Inc. will post 1.12 EPS for the current year.
Insider Transactions at Reddit In other Reddit news, CFO Andrew Vollero sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $124.08, for a total transaction of $12,408,000.
00. Following the transaction, the chief financial officer now owns 499,295 shares in the company, valued at approximately $61,952,523.60.
This represents a 16.69 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website .
Also, CEO Steve Ladd Huffman sold 124,408 shares of Reddit stock in a transaction on Friday, March 14th. The stock was sold at an average price of $127.36, for a total transaction of $15,844,602.
88. Following the sale, the chief executive officer now owns 583,515 shares of the company’s stock, valued at $74,316,470.40.
The trade was a 17.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here .
Insiders sold 603,794 shares of company stock valued at $89,386,704 in the last quarter. Reddit 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. Read More 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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