Reddit, Inc. (NYSE:RDDT) Shares Sold by Barclays PLC

Barclays PLC lessened its stake in Reddit, Inc. (NYSE:RDDT) by 90.9% during the third quarter, HoldingsChannel.com reports. The firm owned 13,507 shares of the company’s stock after selling 135,228 shares during the period. Barclays PLC’s holdings in Reddit were worth $890,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Whittier Trust Co. acquired a new stake in shares of Reddit in the 3rd quarter valued at about $42,000. Daiwa Securities Group Inc. bought a new stake in shares of Reddit during the 3rd quarter valued at about $85,000. Hsbc Holdings PLC bought a new stake in shares of Reddit during the 2nd quarter valued at about $203,000. Paragon Capital Management Ltd bought a new stake in shares of Reddit during the 3rd quarter valued at about $204,000. Finally, Entropy Technologies LP bought a new stake in shares of Reddit during the 3rd quarter valued at about $231,000.

Reddit Stock Down 4.6 %

Shares of NYSE:RDDT opened at $165.53 on Tuesday. The company has a 50 day moving average of $137.51 and a 200-day moving average of $89.50. Reddit, Inc. has a twelve month low of $37.35 and a twelve month high of $182.20.

Reddit (NYSE:RDDT) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.23. Reddit had a negative net margin of 47.83% and a negative return on equity of 40.54%. The company had revenue of $348.40 million during the quarter, compared to analyst estimates of $313.61 million. Reddit’s quarterly revenue was up 67.9% on a year-over-year basis. On average, analysts expect that Reddit, Inc. will post -3.46 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on RDDT shares. Bank of America boosted their price objective on shares of Reddit from $84.00 to $99.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Wells Fargo & Company started coverage on shares of Reddit in a research report on Wednesday, December 11th. They set an “overweight” rating and a $206.00 price objective for the company. Roth Mkm boosted their price objective on shares of Reddit from $89.00 to $116.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Loop Capital boosted their price objective on shares of Reddit from $120.00 to $180.00 and gave the company a “buy” rating in a research report on Monday, December 2nd. Finally, The Goldman Sachs Group upped their target price on shares of Reddit from $60.00 to $68.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. One research analyst has rated the stock with a sell rating, five have given a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Reddit currently has an average rating of “Moderate Buy” and an average price target of $132.70.

Insider Activity at Reddit

In related news, CEO Steve Ladd Huffman sold 14,000 shares of the stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $75.43, for a total transaction of $1,056,020.00. Following the completion of the sale, the chief executive officer now directly owns 651,775 shares of the company’s stock, valued at $49,163,388.25. This represents a 2.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Christopher Brian Slowe sold 11,000 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $169.85, for a total transaction of $1,868,350.00. Following the completion of the sale, the chief technology officer now owns 324,837 shares of the company’s stock, valued at approximately $55,173,564.45. This trade represents a 3.28 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 250,357 shares of company stock valued at $32,983,080 over the last ninety days.

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.