3,917 Shares in Reddit, Inc. (NYSE:RDDT) Bought by Greenhouse Wealth Management LLC

Greenhouse Wealth Management LLC purchased a new stake in shares of Reddit, Inc. (NYSE:RDDT) in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 3,917 shares of the company’s stock, valued at approximately $258,000.

Other institutional investors have also recently bought and sold shares of the company. Congress Park Capital LLC purchased a new stake in shares of Reddit in the first quarter worth approximately $279,000. Commonwealth Equity Services LLC bought a new position in Reddit during the 1st quarter valued at $1,111,000. BNP Paribas Financial Markets purchased a new position in Reddit during the 1st quarter worth $37,000. SG Americas Securities LLC bought a new stake in shares of Reddit in the 1st quarter worth $265,000. Finally, ANTIPODES PARTNERS Ltd purchased a new position in Reddit during the first quarter worth about $63,000.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on RDDT. Jefferies Financial Group assumed coverage on Reddit in a research note on Wednesday. They issued a “buy” rating and a $90.00 target price on the stock. Raymond James upped their price objective on Reddit from $65.00 to $70.00 and gave the company a “strong-buy” rating in a research note on Wednesday, July 31st. JMP Securities reiterated a “market outperform” rating and set a $84.00 target price on shares of Reddit in a research note on Tuesday, July 30th. Piper Sandler increased their price target on shares of Reddit from $65.00 to $70.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Reddit from $59.00 to $77.00 and gave the stock a “neutral” rating in a research report on Monday. One investment analyst has rated the stock with a sell rating, six have given a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $69.00.

Insider Activity

In related news, CFO Andrew Vollero sold 11,287 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $64.00, for a total value of $722,368.00. Following the sale, the chief financial officer now directly owns 840,379 shares of the company’s stock, valued at $53,784,256. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CFO Andrew Vollero sold 11,287 shares of the stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $64.00, for a total transaction of $722,368.00. Following the transaction, the chief financial officer now directly owns 840,379 shares in the company, valued at approximately $53,784,256. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Steve Ladd Huffman sold 14,000 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $53.98, for a total value of $755,720.00. Following the transaction, the chief executive officer now directly owns 672,352 shares in the company, valued at approximately $36,293,560.96. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 337,993 shares of company stock worth $19,517,419.

Reddit Stock Performance

Reddit stock traded up $3.01 during midday trading on Wednesday, reaching $73.78. 1,597,560 shares of the stock were exchanged, compared to its average volume of 4,380,487. Reddit, Inc. has a 52 week low of $37.35 and a 52 week high of $78.08. The company’s fifty day moving average is $60.13 and its 200-day moving average is $57.90.

Reddit (NYSE:RDDT) last released its quarterly earnings results on Tuesday, August 6th. The company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.31) by $0.25. The firm had revenue of $281.20 million during the quarter, compared to the consensus estimate of $253.86 million. The company’s revenue for the quarter was up 53.6% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.70) EPS. As a group, analysts expect that Reddit, Inc. will post -4.13 earnings per share for the current fiscal year.

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.