Reddit, Inc. (NYSE:RDDT) Shares Bought by UMB Bank n.a.

UMB Bank n.a. lifted its position in shares of Reddit, Inc. (NYSE:RDDT) by 10.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,533 shares of the company’s stock after buying an additional 150 shares during the quarter. UMB Bank n.a.’s holdings in Reddit were worth $251,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in RDDT. FMR LLC increased its holdings in Reddit by 302.8% during the 3rd quarter. FMR LLC now owns 12,157,591 shares of the company’s stock valued at $801,428,000 after acquiring an additional 9,139,196 shares in the last quarter. VY Capital Management Co. Ltd. acquired a new stake in shares of Reddit in the third quarter valued at approximately $474,403,000. Point72 Asset Management L.P. increased its stake in shares of Reddit by 3,172.0% during the 3rd quarter. Point72 Asset Management L.P. now owns 2,296,068 shares of the company’s stock worth $151,357,000 after purchasing an additional 2,225,895 shares in the last quarter. Holocene Advisors LP raised its position in shares of Reddit by 177.6% during the 3rd quarter. Holocene Advisors LP now owns 3,005,977 shares of the company’s stock worth $198,154,000 after purchasing an additional 1,923,109 shares during the last quarter. Finally, Lord Abbett & CO. LLC lifted its stake in Reddit by 1,519.4% in the 3rd quarter. Lord Abbett & CO. LLC now owns 1,650,362 shares of the company’s stock valued at $108,792,000 after buying an additional 1,548,450 shares in the last quarter.

Reddit Price Performance

Shares of RDDT stock opened at $183.79 on Thursday. The company’s fifty day simple moving average is $160.20 and its 200-day simple moving average is $102.35. Reddit, Inc. has a 52 week low of $37.35 and a 52 week high of $191.00.

Reddit (NYSE:RDDT) last released its quarterly earnings data on Tuesday, October 29th. The company reported $0.16 EPS for the quarter, beating the consensus estimate of ($0.07) by $0.23. Reddit had a negative return on equity of 40.54% and a negative net margin of 47.83%. The company had revenue of $348.40 million for the quarter, compared to analyst estimates of $313.61 million. Reddit’s revenue for the quarter was up 67.9% compared to the same quarter last year. As a group, research analysts forecast that Reddit, Inc. will post -3.48 earnings per share for the current year.

Insider Buying and Selling

In other news, COO Jennifer L. Wong sold 33,334 shares of Reddit stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $173.93, for a total transaction of $5,797,782.62. Following the sale, the chief operating officer now owns 1,504,297 shares in the company, valued at $261,642,377.21. This trade represents a 2.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Steve Ladd Huffman sold 14,000 shares of the company’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $113.13, for a total transaction of $1,583,820.00. Following the completion of the transaction, the chief executive officer now owns 651,775 shares of the company’s stock, valued at $73,735,305.75. This trade represents a 2.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 259,357 shares of company stock valued at $39,528,738.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Wells Fargo & Company assumed coverage on Reddit in a report on Wednesday, December 11th. They issued an “overweight” rating and a $206.00 price target for the company. Jefferies Financial Group boosted their target price on shares of Reddit from $120.00 to $175.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Needham & Company LLC raised their price target on shares of Reddit from $120.00 to $190.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Guggenheim began coverage on shares of Reddit in a research report on Friday, December 20th. They issued a “buy” rating and a $210.00 price objective for the company. Finally, Raymond James raised their target price on shares of Reddit from $150.00 to $200.00 and gave the stock a “strong-buy” rating in a research report on Tuesday. One research analyst has rated the stock with a sell rating, six have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Reddit presently has an average rating of “Moderate Buy” and an average price target of $158.20.

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.