Vontobel Holding Ltd. Invests $237,000 in Reddit, Inc. (NYSE:RDDT)

Vontobel Holding Ltd. acquired a new position in Reddit, Inc. (NYSE:RDDT) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 1,448 shares of the company’s stock, valued at approximately $237,000.

Several other hedge funds also recently made changes to their positions in the business. FMR LLC increased its position in shares of Reddit by 302.8% in the third quarter. FMR LLC now owns 12,157,591 shares of the company’s stock worth $801,428,000 after acquiring an additional 9,139,196 shares in the last quarter. Jennison Associates LLC purchased a new position in shares of Reddit in the fourth quarter worth approximately $494,861,000. Point72 Asset Management L.P. increased its position in shares of Reddit by 3,172.0% in the third quarter. Point72 Asset Management L.P. now owns 2,296,068 shares of the company’s stock worth $151,357,000 after acquiring an additional 2,225,895 shares in the last quarter. Holocene Advisors LP increased its position in shares of Reddit by 177.6% in the third quarter. Holocene Advisors LP now owns 3,005,977 shares of the company’s stock worth $198,154,000 after acquiring an additional 1,923,109 shares in the last quarter. Finally, Lord Abbett & CO. LLC increased its position in shares of Reddit by 1,519.4% in the third quarter. Lord Abbett & CO. LLC now owns 1,650,362 shares of the company’s stock worth $108,792,000 after acquiring an additional 1,548,450 shares in the last quarter.

Insider Transactions at Reddit

In related news, COO Jennifer L. Wong sold 33,334 shares of the business’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $173.93, for a total transaction of $5,797,782.62. Following the transaction, the chief operating officer now owns 1,504,297 shares of the company’s stock, valued at approximately $261,642,377.21. The trade was a 2.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CTO Christopher Brian Slowe sold 5,000 shares of the business’s stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $184.15, for a total transaction of $920,750.00. Following the transaction, the chief technology officer now directly owns 35,252 shares in the company, valued at $6,491,655.80. This trade represents a 12.42 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 219,838 shares of company stock worth $38,201,526.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on RDDT shares. Roth Mkm downgraded shares of Reddit from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $116.00 to $195.00 in a research report on Wednesday, January 22nd. Sanford C. Bernstein lifted their target price on shares of Reddit from $65.00 to $85.00 and gave the stock an “underperform” rating in a research report on Wednesday, October 30th. B. Riley boosted their price objective on shares of Reddit from $112.00 to $187.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. Seaport Res Ptn raised shares of Reddit to a “hold” rating in a research report on Thursday, February 6th. Finally, Citigroup boosted their price objective on shares of Reddit from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. One analyst has rated the stock with a sell rating, eight have given a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Reddit presently has an average rating of “Moderate Buy” and a consensus target price of $175.95.

Reddit Trading Down 5.2 %

Shares of Reddit stock opened at $166.27 on Friday. The firm has a fifty day simple moving average of $184.13 and a 200-day simple moving average of $123.17. Reddit, Inc. has a 1-year low of $37.35 and a 1-year high of $230.41. The stock has a market capitalization of $29.19 billion and a price-to-earnings ratio of -21.51.

Reddit (NYSE:RDDT) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $0.36 earnings per share 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, research analysts predict that Reddit, Inc. will post 1.12 earnings per share for the current year.

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.