David C. Habiger Acquires 774 Shares of Reddit, Inc. (NYSE:RDDT) Stock

Reddit, Inc. (NYSE:RDDT) Director David C. Habiger bought 774 shares of Reddit stock in a transaction dated Wednesday, March 12th. The stock was purchased at an average price of $130.36 per share, with a total value of $100,898.64. Following the purchase, the director now owns 30,808 shares in the company, valued at approximately $4,016,130.88. This represents a 2.58 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Reddit Stock Performance

Shares of NYSE RDDT opened at $127.71 on Friday. 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 cap of $23.10 billion and a PE ratio of -16.52. The stock has a fifty day moving average of $177.06 and a 200-day moving average of $133.22.

Reddit (NYSE:RDDT) last posted its earnings results on Wednesday, February 12th. The company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.12. Reddit had a negative return on equity of 24.71% and a negative net margin of 37.25%. On average, sell-side analysts predict that Reddit, Inc. will post 1.12 EPS for the current year.

Analyst Ratings Changes

Several research firms recently weighed in on RDDT. Guggenheim initiated 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. Citigroup reaffirmed a “neutral” rating on shares of Reddit in a report on Thursday, February 13th. Raymond James cut their price objective on Reddit from $250.00 to $200.00 and set a “strong-buy” rating on the stock in a research report on Wednesday. Robert W. Baird raised their target price on Reddit from $160.00 to $185.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. Finally, Seaport Res Ptn raised shares of Reddit to a “hold” rating in a report on Thursday, February 6th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Reddit has a consensus rating of “Moderate Buy” and a consensus price target of $173.45.

Institutional Trading of Reddit

Several institutional investors and hedge funds have recently bought and sold shares of RDDT. Jennison Associates LLC bought a new position in shares of Reddit in the fourth quarter worth $494,861,000. Renaissance Capital LLC increased its stake in Reddit by 14.2% in the 4th quarter. Renaissance Capital LLC now owns 31,236 shares of the company’s stock worth $5,105,000 after acquiring an additional 3,892 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of 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 acquiring an additional 139,135 shares in the last quarter. Assetmark Inc. grew its holdings in shares of Reddit by 1,537,566.7% during the fourth quarter. Assetmark Inc. now owns 46,130 shares of the company’s stock worth $7,539,000 after purchasing an additional 46,127 shares in the last quarter. Finally, Wellington Management Group LLP increased its position in shares of 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.

About Reddit

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.