Reddit, Inc. (NYSE:RDDT) Shares Sold by Ieq Capital LLC

Ieq Capital LLC trimmed its position in shares of Reddit, Inc. (NYSE:RDDT) by 47.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,230 shares of the company’s stock after selling 31,284 shares during the quarter. Ieq Capital LLC’s holdings in Reddit were worth $5,595,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in RDDT. Ridgewood Investments LLC increased its holdings in shares of Reddit by 100.0% during the 4th quarter. Ridgewood Investments LLC now owns 200 shares of the company’s stock valued at $33,000 after purchasing an additional 100 shares in the last quarter. Farmers & Merchants Investments Inc. purchased a new position in shares of Reddit during the 4th quarter valued at approximately $33,000. Bogart Wealth LLC purchased a new position in shares of Reddit during the 4th quarter valued at approximately $33,000. Spire Wealth Management purchased a new position in shares of Reddit during the 4th quarter valued at approximately $35,000. Finally, Allworth Financial LP increased its holdings in shares of Reddit by 970.0% during the 4th quarter. Allworth Financial LP now owns 214 shares of the company’s stock valued at $35,000 after purchasing an additional 194 shares in the last quarter.

Insider Activity

In other news, CFO Andrew Vollero sold 19,838 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $143.22, for a total transaction of $2,841,198.36. Following the transaction, the chief financial officer now owns 703,615 shares of the company’s stock, valued at approximately $100,771,740.30. The trade was a 2.74 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO Christopher Brian Slowe sold 5,000 shares of the company’s stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $184.15, for a total transaction of $920,750.00. Following the completion of the transaction, the chief technology officer now directly owns 35,252 shares in the company, valued at $6,491,655.80. The trade was a 12.42 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 219,838 shares of company stock valued at $38,201,526.

Reddit Trading Down 5.2 %

Shares of RDDT stock opened at $166.27 on Friday. The company’s 50-day moving average price is $184.13 and its 200-day moving average price is $123.17. The stock has a market cap of $29.19 billion and a price-to-earnings ratio of -21.51. Reddit, Inc. has a twelve month low of $37.35 and a twelve month high of $230.41.

Reddit (NYSE:RDDT) last announced its quarterly 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%. As a group, equities research analysts predict that Reddit, Inc. will post 1.12 EPS for the current year.

Analysts Set New Price Targets

Several research firms have recently weighed in on RDDT. The Goldman Sachs Group lifted their target price on shares of Reddit from $105.00 to $176.00 and gave the company a “neutral” rating in a report on Tuesday, January 14th. Roth Mkm lowered shares of Reddit from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $116.00 to $195.00 in a report on Wednesday, January 22nd. Jefferies Financial Group boosted their price target on shares of Reddit from $120.00 to $175.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Morgan Stanley boosted their price target on shares of Reddit from $200.00 to $210.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Finally, Wells Fargo & Company boosted their price target on shares of Reddit from $206.00 to $215.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Reddit currently has a consensus rating of “Moderate Buy” and a consensus price target of $175.95.

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.