Whipplewood Advisors LLC Makes New $125,000 Investment in Reddit, Inc. (NYSE:RDDT)

Whipplewood Advisors LLC bought a new position in Reddit, Inc. (NYSE:RDDT) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 762 shares of the company’s stock, valued at approximately $125,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Los Angeles Capital Management LLC purchased a new stake in Reddit in the 4th quarter worth approximately $379,000. IFP Advisors Inc purchased a new stake in Reddit in the 4th quarter worth approximately $75,000. Wealthspire Advisors LLC purchased a new stake in Reddit in the 4th quarter worth approximately $326,000. Sigma Planning Corp purchased a new stake in Reddit in the 4th quarter worth approximately $1,643,000. Finally, Truxt Investmentos Ltda. purchased a new stake in Reddit in the 4th quarter worth approximately $1,321,000.

Insiders Place Their Bets

In other Reddit news, CFO Andrew Vollero sold 48,122 shares of the firm’s stock in a transaction 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 sale, the chief financial officer now owns 599,295 shares of the company’s stock, valued at $97,565,226. This trade represents a 7.43 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Christopher Brian Slowe sold 21,000 shares of the firm’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $162.80, for a total transaction of $3,418,800.00. Following the completion of the sale, the chief technology officer now directly owns 281,213 shares of the company’s stock, valued at approximately $45,781,476.40. This represents a 6.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 275,122 shares of company stock valued at $48,022,530 in the last quarter.

Reddit Stock Performance

RDDT stock opened at $159.45 on Friday. The firm has a market cap of $28.84 billion and a P/E ratio of -20.63. Reddit, Inc. has a 52 week low of $37.35 and a 52 week high of $230.41. The firm’s fifty day moving average is $183.75 and its 200 day moving average is $126.22.

Reddit (NYSE:RDDT) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $0.36 earnings per share (EPS) for the quarter, topping 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, analysts forecast that Reddit, Inc. will post 1.12 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on RDDT shares. Guggenheim started coverage on shares of Reddit in a research note on Friday, December 20th. They issued a “buy” rating and a $210.00 target price on the stock. B. Riley increased their price target on shares of Reddit from $112.00 to $187.00 and gave the stock a “buy” rating in a report on Tuesday, January 14th. Roth Capital lowered shares of Reddit from a “strong-buy” rating to a “hold” rating in a report on Wednesday, January 22nd. Piper Sandler increased their price target on shares of Reddit from $210.00 to $220.00 and gave the stock an “overweight” rating in a report on Friday, February 21st. Finally, Needham & Company LLC increased their price target on shares of Reddit from $190.00 to $220.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $175.95.

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.