WINTON GROUP Ltd Acquires New Shares in Reddit, Inc. (NYSE:RDDT)

WINTON GROUP Ltd acquired a new position in shares of Reddit, Inc. (NYSE:RDDT) in the fourth quarter, HoldingsChannel.com reports. The firm acquired 1,274 shares of the company’s stock, valued at approximately $208,000.

Several other large investors have also recently added to or reduced their stakes in RDDT. Vanguard Group Inc. boosted its holdings in shares of Reddit by 184.2% during the fourth quarter. Vanguard Group Inc. now owns 9,181,390 shares of the company’s stock valued at $1,500,606,000 after acquiring an additional 5,950,909 shares during the period. Jennison Associates LLC bought a new stake in Reddit in the 4th quarter valued at about $494,861,000. Point72 Asset Management L.P. boosted its stake in Reddit by 3,172.0% during 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 purchasing an additional 2,225,895 shares during the period. Holocene Advisors LP grew its position in Reddit by 177.6% in the 3rd quarter. Holocene Advisors LP now owns 3,005,977 shares of the company’s stock worth $198,154,000 after purchasing an additional 1,923,109 shares during the last quarter. Finally, Brooklyn FI LLC acquired a new stake in shares of Reddit in the fourth quarter valued at approximately $303,082,000.

Reddit Stock Performance

Shares of NYSE:RDDT opened at $104.82 on Tuesday. The company has a market capitalization of $18.96 billion and a PE ratio of -13.56. The stock has a fifty day moving average of $164.53 and a 200-day moving average of $138.13. Reddit, Inc. has a one year low of $37.35 and a one year high of $230.41.

Reddit (NYSE:RDDT) last announced its earnings results on Wednesday, February 12th. The company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.24 by $0.12. Reddit had a negative return on equity of 24.71% and a negative net margin of 37.25%. As a group, research analysts forecast that Reddit, Inc. will post 1.12 EPS for the current fiscal year.

Insider Buying and Selling at Reddit

In other Reddit news, CEO Steve Ladd Huffman sold 124,408 shares of Reddit 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 transaction, the chief executive officer now directly owns 583,515 shares in the company, valued at approximately $74,316,470.40. The trade was a 17.57 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Jennifer L. Wong sold 33,333 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $187.72, for a total value of $6,257,270.76. Following the completion of the sale, the chief operating officer now owns 1,504,297 shares of the company’s stock, valued at $282,386,632.84. The trade was a 2.17 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 589,794 shares of company stock valued at $87,940,784.

Wall Street Analysts Forecast Growth

RDDT has been the subject of several analyst reports. B. Riley boosted their price objective on Reddit from $112.00 to $187.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. JMP Securities set a $155.00 price target on Reddit in a research report on Friday. Needham & Company LLC reissued a “buy” rating and set a $220.00 price target on shares of Reddit in a report on Friday, March 21st. Robert W. Baird upped their price objective on shares of Reddit from $160.00 to $185.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. Finally, Redburn Partners set a $75.00 target price on shares of Reddit in a research report on Monday, March 17th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Reddit has an average rating of “Moderate Buy” and a consensus price target of $163.00.

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.