6,294 Shares in Reddit, Inc. (NYSE:RDDT) Purchased by Keystone Investors PTE Ltd.

Keystone Investors PTE Ltd. purchased a new position in Reddit, Inc. (NYSE:RDDT) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 6,294 shares of the company’s stock, valued at approximately $1,029,000.

Several other hedge funds have also recently made changes to their positions in the stock. Plato Investment Management Ltd bought a new position in shares of Reddit in the fourth quarter worth about $27,000. EverSource Wealth Advisors LLC purchased a new position in Reddit in the fourth quarter worth about $28,000. Ridgewood Investments LLC raised its holdings in 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 buying an additional 100 shares during the period. Farmers & Merchants Investments Inc. bought a new stake in shares of Reddit in the 4th quarter worth about $33,000. Finally, Bogart Wealth LLC bought a new position in shares of Reddit during the fourth quarter valued at approximately $33,000.

Insider Activity at Reddit

In related news, Director David C. Habiger purchased 774 shares of the firm’s stock in a transaction dated Wednesday, March 12th. The shares were purchased at an average price of $130.36 per share, with a total value of $100,898.64. Following the acquisition, the director now directly owns 30,808 shares of the company’s stock, valued at approximately $4,016,130.88. This represents a 2.58 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Jennifer L. Wong sold 33,333 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at approximately $183,587,421.18. The trade was a 2.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 492,794 shares of company stock worth $76,482,524.

Reddit Stock Performance

Reddit stock opened at $124.96 on Tuesday. The stock’s 50 day moving average price is $170.39 and its two-hundred day moving average price is $136.18. Reddit, Inc. has a 52-week low of $37.35 and a 52-week high of $230.41. The stock has a market capitalization of $22.61 billion and a price-to-earnings ratio of -16.17.

Reddit (NYSE:RDDT) last posted its earnings results on Wednesday, February 12th. The company reported $0.36 earnings per share (EPS) for the quarter, topping 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%. On average, equities research analysts forecast that Reddit, Inc. will post 1.12 EPS for the current year.

Analysts Set New Price Targets

Several research firms recently weighed in on RDDT. B. Riley lifted their price objective on Reddit from $112.00 to $187.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. Redburn Partners set a $75.00 price objective on Reddit in a research report on Monday, March 17th. JMP Securities upped their target price on Reddit from $190.00 to $200.00 and gave the stock a “market outperform” rating in a research note on Thursday, February 13th. Morgan Stanley upped their target price 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, Roth Capital cut shares of Reddit from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, January 22nd. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $162.68.

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.