14,686 Shares in Reddit, Inc. (NYSE:RDDT) Bought by Oxford Financial Group LTD. LLC

Oxford Financial Group LTD. LLC bought a new position in shares of Reddit, Inc. (NYSE:RDDT) in the 4th quarter, Holdings Channel.com reports. The fund bought 14,686 shares of the company’s stock, valued at approximately $2,400,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Prospera Financial Services Inc acquired a new position in Reddit during the 3rd quarter worth approximately $248,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Reddit by 194.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 503,321 shares of the company’s stock worth $33,179,000 after purchasing an additional 332,604 shares during the last quarter. GM Advisory Group LLC acquired a new stake in shares of Reddit during the third quarter worth $255,000. Meridian Wealth Management LLC boosted its holdings in shares of Reddit by 29.7% during the third quarter. Meridian Wealth Management LLC now owns 45,650 shares of the company’s stock worth $3,009,000 after purchasing an additional 10,466 shares during the last quarter. Finally, Cerity Partners LLC acquired a new position in Reddit in the third quarter valued at $446,000.

Insiders Place Their Bets

In other Reddit news, COO Jennifer L. Wong sold 33,333 shares of the company’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $125.22, for a total value of $4,173,958.26. Following the transaction, the chief operating officer now owns 1,466,119 shares of the company’s stock, valued at approximately $183,587,421.18. This represents a 2.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Benjamin Seong Lee sold 92,299 shares of the business’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $157.35, for a total transaction of $14,523,247.65. Following the sale, the insider now directly owns 115,001 shares in the company, valued at approximately $18,095,407.35. This trade represents a 44.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 503,794 shares of company stock worth $78,350,874 over the last ninety days.

Reddit Stock Performance

Shares of NYSE RDDT opened at $108.68 on Friday. The firm has a market cap of $19.66 billion and a price-to-earnings ratio of -14.06. Reddit, Inc. has a 1 year low of $37.35 and a 1 year high of $230.41. The stock’s 50-day simple moving average is $172.23 and its 200-day simple moving average is $134.23.

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

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on RDDT. Morgan Stanley lifted their target price on Reddit from $200.00 to $210.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Redburn Atlantic began coverage on Reddit in a report on Monday. They issued a “sell” rating and a $75.00 target price on the stock. Wells Fargo & Company lifted their target price on Reddit from $206.00 to $215.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. The Goldman Sachs Group lifted their target price on Reddit from $105.00 to $176.00 and gave the company a “neutral” rating in a report on Tuesday, January 14th. Finally, JPMorgan Chase & Co. boosted their price objective on Reddit from $142.00 to $185.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $162.68.

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.