Twinbeech Capital LP Has $25.75 Million Stock Holdings in Reddit, Inc. (NYSE:RDDT)

Twinbeech Capital LP lifted its position in shares of Reddit, Inc. (NYSE:RDDT) by 49.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 157,532 shares of the company’s stock after purchasing an additional 52,330 shares during the period. Twinbeech Capital LP’s holdings in Reddit were worth $25,747,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Two Sigma Advisers LP acquired a new position in shares of Reddit during the 4th quarter worth about $112,300,000. Tidal Investments LLC acquired a new position in Reddit in the 4th quarter valued at about $2,388,000. Scientech Research LLC acquired a new position in Reddit in the 4th quarter valued at about $1,519,000. Snowden Capital Advisors LLC acquired a new position in Reddit in the 4th quarter valued at about $378,000. Finally, Shay Capital LLC acquired a new position in Reddit in the 4th quarter valued at about $932,000.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Citigroup upped their price target on shares of Reddit from $150.00 to $158.00 and gave the company a “buy” rating in a research note on Friday, May 2nd. Robert W. Baird set a $140.00 price target on shares of Reddit in a research note on Monday, May 5th. Raymond James decreased their price target on shares of Reddit from $250.00 to $200.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, March 12th. Seaport Res Ptn upgraded shares of Reddit from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 5th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $180.00 price target on shares of Reddit in a research note on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $143.77.

Reddit Trading Down 0.2%

Shares of Reddit stock opened at $113.35 on Monday. The company has a 50 day moving average of $109.40 and a 200-day moving average of $145.91. Reddit, Inc. has a 1-year low of $49.13 and a 1-year high of $230.41. The company has a market cap of $20.92 billion, a PE ratio of -14.66, a price-to-earnings-growth ratio of 4.72 and a beta of 2.90.

Reddit (NYSE:RDDT) last issued its quarterly earnings results on Thursday, May 1st. The company reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.11. Reddit had a negative net margin of 37.25% and a negative return on equity of 24.71%. The company had revenue of $392.36 million during the quarter, compared to the consensus estimate of $370.55 million. During the same quarter in the prior year, the firm posted ($8.19) EPS. The firm’s quarterly revenue was up 61.5% on a year-over-year basis. Research analysts forecast that Reddit, Inc. will post 1.12 earnings per share for the current year.

Insider Transactions at Reddit

In related news, CFO Andrew Vollero sold 48,122 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $162.80, for a total value of $7,834,261.60. Following the completion of the transaction, the chief financial officer now owns 599,295 shares of the company’s stock, valued at $97,565,226. This represents a 7.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Steve Ladd Huffman sold 124,408 shares of the stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $127.36, for a total transaction of $15,844,602.88. Following the completion of the transaction, the chief executive officer now directly owns 583,515 shares of the company’s stock, valued at approximately $74,316,470.40. The trade was a 17.57% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 725,270 shares of company stock valued at $95,789,365.

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.