Natixis Advisors LLC Invests $2.55 Million in Reddit, Inc. (NYSE:RDDT)

Natixis Advisors LLC bought a new position in shares of Reddit, Inc. (NYSE:RDDT) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 15,595 shares of the company’s stock, valued at approximately $2,549,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. FMR LLC boosted its stake in Reddit by 302.8% during 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 bought a new position in Reddit during the fourth quarter worth $494,861,000. Holocene Advisors LP lifted its stake 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 valued at $198,154,000 after buying an additional 1,923,109 shares in the last quarter. Point72 Asset Management L.P. lifted its stake 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 valued at $151,357,000 after buying an additional 2,225,895 shares in the last quarter. Finally, Lord Abbett & CO. LLC lifted its stake 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 valued at $108,792,000 after buying an additional 1,548,450 shares in the last quarter.

Analysts Set New Price Targets

RDDT has been the topic of a number of recent research reports. Wells Fargo & Company raised their price objective on shares of Reddit from $206.00 to $215.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Needham & Company LLC reaffirmed a “buy” rating and issued a $220.00 price objective on shares of Reddit in a research note on Friday. The Goldman Sachs Group raised their price objective on shares of Reddit from $105.00 to $176.00 and gave the company a “neutral” rating in a research note on Tuesday, January 14th. Loop Capital reaffirmed a “buy” rating and issued a $210.00 price objective on shares of Reddit in a research note on Tuesday, March 11th. Finally, Robert W. Baird raised their price target on shares of Reddit from $160.00 to $185.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $162.68.

Insider Transactions at Reddit

In related news, CEO Steve Ladd Huffman sold 14,000 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $201.96, for a total transaction of $2,827,440.00. Following the completion of the transaction, the chief executive officer now owns 614,394 shares of the company’s stock, valued at approximately $124,083,012.24. The trade was a 2.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David C. Habiger acquired 774 shares of Reddit stock in a transaction that occurred on Wednesday, March 12th. The shares were purchased at an average cost of $130.36 per share, with a total value of $100,898.64. Following the purchase, the director now owns 30,808 shares of the company’s stock, valued at $4,016,130.88. This represents a 2.58 % increase in their position. The disclosure for this purchase can be found here. Insiders sold 492,794 shares of company stock worth $76,482,524 over the last quarter.

Reddit Stock Performance

NYSE RDDT opened at $115.46 on Monday. The company has a market capitalization of $20.89 billion and a PE ratio of -14.94. The company has a 50-day simple moving average of $171.19 and a 200 day simple moving average of $135.71. Reddit, Inc. has a 52-week low of $37.35 and a 52-week high of $230.41.

Reddit (NYSE:RDDT) last posted its earnings results on Wednesday, February 12th. The company reported $0.36 earnings per share for the quarter, topping the consensus estimate 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, analysts forecast that Reddit, Inc. will post 1.12 EPS for the current fiscal 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.