3,165 Shares in Reddit Inc. $RDDT Acquired by Diversified Trust Co

Diversified Trust Co acquired a new stake in Reddit Inc. (NYSE:RDDT) during the 3rd quarter, Holdings Channel.com reports. The firm acquired 3,165 shares of the company’s stock, valued at approximately $728,000.

Other institutional investors have also recently bought and sold shares of the company. Teacher Retirement System of Texas raised its stake in shares of Reddit by 880.5% in the 2nd quarter. Teacher Retirement System of Texas now owns 94,676 shares of the company’s stock valued at $14,255,000 after purchasing an additional 85,020 shares during the period. Petrus Trust Company LTA acquired a new stake in Reddit in the 1st quarter valued at approximately $473,000. Think Investments LP lifted its stake in Reddit by 10.3% in the 1st quarter. Think Investments LP now owns 268,000 shares of the company’s stock valued at $28,113,000 after acquiring an additional 25,000 shares in the last quarter. Sender Co & Partners Inc. bought a new position in shares of Reddit during the 1st quarter worth approximately $1,367,000. Finally, Union Bancaire Privee UBP SA acquired a new stake in shares of Reddit in the second quarter valued at approximately $2,078,000.

Insider Buying and Selling at Reddit

In other Reddit news, CEO Steve Ladd Huffman sold 18,000 shares of Reddit stock in a transaction on Monday, December 15th. The shares were sold at an average price of $220.28, for a total transaction of $3,965,040.00. Following the completion of the transaction, the chief executive officer directly owned 448,576 shares of the company’s stock, valued at $98,812,321.28. The trade was a 3.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Michelle Marie Reynolds sold 11,249 shares of the stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $232.95, for a total transaction of $2,620,454.55. Following the completion of the transaction, the chief accounting officer directly owned 10,558 shares in the company, valued at $2,459,486.10. The trade was a 51.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 461,333 shares of company stock worth $96,309,724. 34.25% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages recently commented on RDDT. Jefferies Financial Group increased their target price on shares of Reddit from $300.00 to $325.00 and gave the stock a “buy” rating in a report on Thursday, December 11th. Raymond James Financial restated a “strong-buy” rating and set a $250.00 price objective (up from $225.00) on shares of Reddit in a research note on Monday, October 20th. Weiss Ratings restated a “hold (c-)” rating on shares of Reddit in a report on Monday. Citigroup upped their target price on Reddit from $250.00 to $265.00 and gave the stock a “buy” rating in a report on Monday, November 3rd. Finally, Zacks Research cut Reddit from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 26th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $230.28.

Reddit Stock Performance

Shares of NYSE:RDDT opened at $241.81 on Friday. Reddit Inc. has a 52-week low of $79.75 and a 52-week high of $282.95. The company has a market capitalization of $45.82 billion, a P/E ratio of 138.97, a price-to-earnings-growth ratio of 1.54 and a beta of 2.17. The company has a 50-day simple moving average of $214.35 and a 200 day simple moving average of $202.97.

Reddit (NYSE:RDDT) last released its quarterly earnings data on Thursday, October 30th. The company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.30. Reddit had a return on equity of 14.94% and a net margin of 18.33%.The firm had revenue of $584.91 million for the quarter, compared to analyst estimates of $546.65 million. During the same quarter in the prior year, the company earned $0.16 earnings per share. The business’s revenue for the quarter was up 67.9% compared to the same quarter last year. As a group, equities analysts forecast that Reddit Inc. will post 1.12 earnings per share for the current year.

Reddit Profile

Reddit is an online social news aggregation, discussion and content-sharing platform organized around user-created communities called “subreddits,” each focused on a particular topic or interest. Registered users submit links, text posts, images and video, and community members vote and comment to surface popular content. The site is accessed via its web platform and mobile apps for iOS and Android, and it supports live events such as Ask Me Anything (AMA) sessions and community-driven discussions.

Founded in 2005 by Steve Huffman and Alexis Ohanian, Reddit is headquartered in San Francisco and serves a global audience with particularly large user bases in the United States and other English-speaking markets.