10,002 Shares in Reddit, Inc. (NYSE:RDDT) Purchased by Gilder Gagnon Howe & Co. LLC

Gilder Gagnon Howe & Co. LLC acquired a new stake in Reddit, Inc. (NYSE:RDDT) during the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 10,002 shares of the company’s stock, valued at approximately $1,635,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Plato Investment Management Ltd acquired a new position in Reddit during the fourth quarter worth $27,000. EverSource Wealth Advisors LLC purchased a new stake in shares of Reddit during the 4th quarter worth $28,000. Ridgewood Investments LLC increased its holdings in shares of 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 in the last quarter. Farmers & Merchants Investments Inc. purchased a new position in shares of Reddit in the 4th quarter valued at about $33,000. Finally, Bogart Wealth LLC purchased a new stake in Reddit during the fourth quarter worth about $33,000.

Insiders Place Their Bets

In other Reddit news, CTO Christopher Brian Slowe sold 5,068 shares of the company’s stock in a transaction dated Thursday, April 24th. The stock was sold at an average price of $111.28, for a total transaction of $563,967.04. Following the completion of the sale, the chief technology officer now directly owns 20,184 shares in the company, valued at $2,246,075.52. This represents a 20.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Benjamin Seong Lee sold 92,299 shares of Reddit stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $157.35, for a total value of $14,523,247.65. Following the completion of the transaction, the insider now directly owns 115,001 shares in the company, valued at $18,095,407.35. This represents a 44.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 725,270 shares of company stock valued at $97,067,425 over the last quarter.

Reddit Trading Up 5.4 %

Reddit stock opened at $118.35 on Friday. The stock has a fifty day moving average price of $122.11 and a 200 day moving average price of $142.14. Reddit, Inc. has a 52 week low of $44.15 and a 52 week high of $230.41. The firm has a market capitalization of $21.41 billion and a P/E ratio of -15.31.

Reddit (NYSE:RDDT) last posted its quarterly earnings data 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 37.25% and a negative return on equity of 24.71%. As a group, equities analysts predict that Reddit, Inc. will post 1.12 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have issued reports on RDDT shares. Robert W. Baird increased their target price on shares of Reddit from $160.00 to $185.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. Truist Financial initiated coverage on Reddit in a report on Monday, April 7th. They set a “buy” rating and a $150.00 price objective for the company. The Goldman Sachs Group lowered their target price on Reddit from $185.00 to $124.00 and set a “neutral” rating on the stock in a report on Monday, April 14th. Roth Capital downgraded Reddit from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 22nd. Finally, Needham & Company LLC reissued a “buy” rating and issued a $220.00 price objective on shares of Reddit in a research note on Friday, March 21st. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $142.22.

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.