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

Reddit, Inc. (NYSE:RDDT) Director David C. Habiger acquired 774 shares of the stock in a transaction that occurred on Wednesday, March 12th. The shares were bought at an average price of $130.36 per share, with a total value of $100,898.64. Following the completion of the transaction, the director now owns 30,808 shares in the company, valued at $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 Trading Up 5.1 %

RDDT opened at $127.71 on Friday. The company has a fifty day moving average price of $177.06 and a two-hundred day moving average price of $133.22. Reddit, Inc. has a 1-year low of $37.35 and a 1-year high of $230.41. The company has a market cap of $23.10 billion and a P/E ratio of -16.52.

Reddit (NYSE:RDDT) last issued 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 return on equity of 24.71% and a negative net margin of 37.25%. On average, research analysts forecast that Reddit, Inc. will post 1.12 EPS for the current fiscal year.

Wall Street Analyst Weigh In

RDDT has been the subject of several research analyst reports. Raymond James lowered their price target on shares of Reddit from $250.00 to $200.00 and set a “strong-buy” rating for the company in a report on Wednesday. Roth Mkm cut Reddit from a “buy” rating to a “neutral” rating and upped their target price for the stock from $116.00 to $195.00 in a report on Wednesday, January 22nd. B. Riley lifted their price target on Reddit from $112.00 to $187.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. Loop Capital restated a “buy” rating on shares of Reddit in a report on Tuesday. Finally, Roth Capital lowered shares of Reddit from a “strong-buy” rating to a “hold” rating in a report on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, nine have given 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, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $173.45.

Hedge Funds Weigh In On Reddit

A number of institutional investors have recently modified their holdings of RDDT. FMR LLC grew its position in Reddit by 302.8% in the 3rd quarter. FMR LLC now owns 12,157,591 shares of the company’s stock valued at $801,428,000 after purchasing an additional 9,139,196 shares during the period. Vanguard Group Inc. lifted its stake in shares of Reddit by 184.2% in the fourth quarter. Vanguard Group Inc. now owns 9,181,390 shares of the company’s stock valued at $1,500,606,000 after buying an additional 5,950,909 shares in the last quarter. Jennison Associates LLC bought a new stake in shares of Reddit during the fourth quarter worth about $494,861,000. Alliancebernstein L.P. raised its holdings in shares of Reddit by 1,011.1% in the 4th quarter. Alliancebernstein L.P. now owns 2,788,758 shares of the company’s stock worth $455,795,000 after acquiring an additional 2,537,768 shares during the last quarter. Finally, Point72 Asset Management L.P. lifted its position in Reddit by 3,172.0% in the 3rd quarter. Point72 Asset Management L.P. now owns 2,296,068 shares of the company’s stock valued at $151,357,000 after acquiring an additional 2,225,895 shares in the last quarter.

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.