TFB Advisors LLC Takes Position in Reddit, Inc. (NYSE:RDDT)

TFB Advisors LLC purchased a new position in Reddit, Inc. (NYSE:RDDT) in the fourth quarter, Holdings Channel reports. The fund purchased 2,507 shares of the company’s stock, valued at approximately $410,000.

Several other institutional investors have also made changes to their positions in RDDT. Ridgewood Investments LLC increased its position in Reddit by 100.0% in the 4th quarter. Ridgewood Investments LLC now owns 200 shares of the company’s stock worth $33,000 after purchasing an additional 100 shares during the last quarter. Farmers & Merchants Investments Inc. bought a new stake in shares of Reddit in the 4th quarter valued at approximately $33,000. Spire Wealth Management acquired a new position in Reddit in the fourth quarter worth approximately $35,000. Whittier Trust Co. bought a new position in Reddit during the third quarter valued at approximately $42,000. Finally, Blue Trust Inc. acquired a new stake in Reddit in the fourth quarter valued at approximately $59,000.

Reddit Trading Up 1.5 %

NYSE RDDT opened at $216.96 on Thursday. Reddit, Inc. has a twelve month low of $37.35 and a twelve month high of $230.41. The firm has a 50-day simple moving average of $179.35 and a 200 day simple moving average of $116.59.

Reddit (NYSE:RDDT) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.12. Reddit had a negative return on equity of 40.54% and a negative net margin of 47.83%. As a group, sell-side analysts expect that Reddit, Inc. will post -3.45 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Reddit news, CEO Steve Ladd Huffman sold 14,000 shares of the firm’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $125.98, for a total transaction of $1,763,720.00. Following the completion of the transaction, the chief executive officer now owns 651,775 shares in the company, valued at $82,110,614.50. This trade represents a 2.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Benjamin Seong Lee sold 18,519 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $146.06, for a total value of $2,704,885.14. Following the completion of the sale, the insider now owns 138,401 shares in the company, valued at approximately $20,214,850.06. This represents a 11.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 259,357 shares of company stock worth $41,121,108 over the last 90 days.

Analysts Set New Price Targets

RDDT has been the topic of a number of recent research reports. Morgan Stanley upgraded shares of Reddit from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $70.00 to $200.00 in a report on Monday, December 9th. Needham & Company LLC raised their target price on Reddit from $120.00 to $190.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Raymond James upped their price target on Reddit from $200.00 to $250.00 and gave the stock a “strong-buy” rating in a research note on Monday. Robert W. Baird raised their price objective on Reddit from $100.00 to $160.00 and gave the company a “neutral” rating in a research note on Wednesday, December 11th. Finally, Roth Capital cut Reddit from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $162.20.

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.