Blue Trust Inc. Makes New $63,000 Investment in Reddit, Inc. (NYSE:RDDT)

Blue Trust Inc. purchased a new stake in shares of Reddit, Inc. (NYSE:RDDT) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 386 shares of the company’s stock, valued at approximately $63,000.

A number of other large investors have also recently modified their holdings of the company. Vontobel Holding Ltd. purchased a new position in Reddit during the 4th quarter worth $237,000. Bogart Wealth LLC purchased a new position in shares of Reddit during the fourth quarter valued at $33,000. Van ECK Associates Corp bought a new stake in shares of Reddit in the fourth quarter valued at about $446,000. TFB Advisors LLC purchased a new stake in Reddit in the fourth quarter worth about $410,000. Finally, Summit Trail Advisors LLC purchased a new stake in Reddit in the fourth quarter worth about $225,000.

Insider Buying and Selling

In other news, CEO Steve Ladd Huffman sold 14,000 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $187.78, for a total value of $2,628,920.00. Following the sale, the chief executive officer now owns 614,394 shares in the company, valued at $115,370,905.32. This represents a 2.23 % decrease in their ownership of the stock. The transaction 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 the business’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $187.72, for a total transaction of $6,257,270.76. Following the transaction, the chief operating officer now owns 1,504,297 shares of the company’s stock, valued at $282,386,632.84. This represents a 2.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 200,000 shares of company stock valued at $35,360,328 over the last quarter.

Reddit Trading Down 0.6 %

NYSE:RDDT opened at $165.43 on Tuesday. The company has a market capitalization of $29.93 billion and a P/E ratio of -21.40. Reddit, Inc. has a 12 month low of $37.35 and a 12 month high of $230.41. The firm has a fifty day simple moving average of $183.87 and a 200-day simple moving average of $124.94.

Reddit (NYSE:RDDT) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.12. Reddit had a negative return on equity of 24.71% and a negative net margin of 37.25%. Equities analysts forecast that Reddit, Inc. will post 1.12 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have commented on RDDT shares. Citigroup reissued a “neutral” rating on shares of Reddit in a research report on Thursday, February 13th. Wells Fargo & Company lifted their price objective on shares of Reddit from $206.00 to $215.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. JMP Securities upped their target price on Reddit from $190.00 to $200.00 and gave the stock a “market outperform” rating in a report on Thursday, February 13th. Bank of America lifted their price target on Reddit from $180.00 to $190.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. Finally, Roth Mkm cut Reddit from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $116.00 to $195.00 in a research note on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Reddit has an average rating of “Moderate Buy” and a consensus price target of $175.95.

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.