Barclays PLC Sells 135,228 Shares of Reddit, Inc. (NYSE:RDDT)

Barclays PLC trimmed its stake in shares of Reddit, Inc. (NYSE:RDDT) by 90.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,507 shares of the company’s stock after selling 135,228 shares during the quarter. Barclays PLC’s holdings in Reddit were worth $890,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. StoneCrest Wealth Management Inc. boosted its stake in Reddit by 2.6% in the 3rd quarter. StoneCrest Wealth Management Inc. now owns 6,846 shares of the company’s stock valued at $451,000 after buying an additional 176 shares in the last quarter. Whittier Trust Co. bought a new position in shares of Reddit during the third quarter valued at $42,000. MML Investors Services LLC boosted its stake in shares of Reddit by 12.0% in the 3rd quarter. MML Investors Services LLC now owns 7,085 shares of the company’s stock valued at $467,000 after purchasing an additional 757 shares in the last quarter. Vestor Capital LLC grew its holdings in shares of Reddit by 1.1% in the 3rd quarter. Vestor Capital LLC now owns 84,787 shares of the company’s stock worth $5,589,000 after purchasing an additional 922 shares during the last quarter. Finally, Daiwa Securities Group Inc. acquired a new stake in shares of Reddit during the 3rd quarter worth about $85,000.

Reddit Stock Up 0.2 %

RDDT opened at $165.04 on Wednesday. The company has a fifty day moving average price of $155.39 and a two-hundred day moving average price of $98.65. Reddit, Inc. has a 52 week low of $37.35 and a 52 week high of $187.69.

Reddit (NYSE:RDDT) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.23. The business had revenue of $348.40 million for the quarter, compared to analyst estimates of $313.61 million. Reddit had a negative return on equity of 40.54% and a negative net margin of 47.83%. Reddit’s quarterly revenue was up 67.9% compared to the same quarter last year. As a group, research analysts predict that Reddit, Inc. will post -3.46 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on RDDT shares. Guggenheim began coverage on shares of Reddit in a research report on Friday, December 20th. They issued a “buy” rating and a $210.00 price target on the stock. B. Riley boosted their target price on Reddit from $112.00 to $187.00 and gave the stock a “buy” rating in a report on Tuesday. Bank of America raised their price target on Reddit from $99.00 to $180.00 and gave the company a “neutral” rating in a report on Wednesday, January 8th. Raymond James lifted their price objective on Reddit from $70.00 to $80.00 and gave the company a “strong-buy” rating in a research report on Thursday, October 10th. Finally, Jefferies Financial Group increased their target price on Reddit from $120.00 to $175.00 and gave the stock a “buy” rating in a report on Monday, November 25th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $148.25.

Insider Transactions at Reddit

In other Reddit news, CFO Andrew Vollero sold 19,838 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $143.22, for a total value of $2,841,198.36. Following the completion of the sale, the chief financial officer now directly owns 703,615 shares in the company, valued at $100,771,740.30. This represents a 2.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Jennifer L. Wong sold 33,333 shares of Reddit stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $176.23, for a total value of $5,874,274.59. Following the transaction, the chief operating officer now owns 1,504,297 shares in the company, valued at $265,102,260.31. This trade represents a 2.17 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 217,023 shares of company stock worth $31,699,295.

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.