Reddit, Inc. (NYSE:RDDT) Receives Consensus Rating of “Moderate Buy” from Analysts

Reddit, Inc. (NYSE:RDDT) has been given an average recommendation of “Moderate Buy” by the twenty-two brokerages that are covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, eight have assigned a hold recommendation, twelve have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $175.45.

RDDT has been the subject of several research reports. Roth Mkm downgraded Reddit from a “buy” rating to a “neutral” rating and boosted their target price for the company from $116.00 to $195.00 in a report on Wednesday, January 22nd. Robert W. Baird boosted their price objective on Reddit from $160.00 to $185.00 and gave the company a “neutral” rating in a research note on Thursday. JPMorgan Chase & Co. raised their target price on shares of Reddit from $142.00 to $185.00 and gave the stock a “neutral” rating in a research report on Thursday. Needham & Company LLC upped their price target on shares of Reddit from $190.00 to $220.00 and gave the company a “buy” rating in a research report on Thursday. Finally, B. Riley lifted their price objective on shares of Reddit from $112.00 to $187.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th.

Reddit Stock Down 4.2 %

Shares of RDDT opened at $196.37 on Friday. Reddit has a 52-week low of $37.35 and a 52-week high of $230.41. The stock has a 50 day moving average price of $182.33 and a 200 day moving average price of $119.28.

Reddit (NYSE:RDDT) last posted its earnings results on Wednesday, February 12th. The company reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.12. Reddit had a negative net margin of 47.83% and a negative return on equity of 40.54%. Research analysts anticipate that Reddit will post -3.45 EPS for the current year.

Insider Buying and Selling

In related news, CEO Steve Ladd Huffman sold 14,000 shares of the business’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $141.79, for a total value of $1,985,060.00. Following the sale, the chief executive officer now directly owns 634,971 shares in the company, valued at $90,032,538.09. The trade was a 2.16 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Jennifer L. Wong sold 33,334 shares of the firm’s stock in a transaction dated 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 transaction, the chief operating officer now owns 1,504,297 shares of the company’s stock, valued at $261,642,377.21. This trade represents a 2.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 245,357 shares of company stock worth $39,357,388 in the last quarter.

Institutional Investors Weigh In On Reddit

Large investors have recently bought and sold shares of the stock. Plato Investment Management Ltd acquired a new position in shares of Reddit in the fourth quarter worth $27,000. EverSource Wealth Advisors LLC acquired a new position in Reddit in the 4th quarter valued at about $28,000. Ridgewood Investments LLC raised its stake in Reddit by 100.0% in 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 during the last quarter. Farmers & Merchants Investments Inc. purchased a new position in Reddit in the 4th quarter valued at about $33,000. Finally, Bogart Wealth LLC acquired a new stake in shares of Reddit during the 4th quarter worth about $33,000.

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.