Whittier Trust Co. of Nevada Inc. Invests $56,000 in Reddit, Inc. (NYSE:RDDT)

Whittier Trust Co. of Nevada Inc. purchased a new position in shares of Reddit, Inc. (NYSE:RDDT) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 342 shares of the company’s stock, valued at approximately $56,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Plato Investment Management Ltd acquired a new stake in shares of Reddit during the 4th quarter worth approximately $27,000. EverSource Wealth Advisors LLC acquired a new stake in shares of Reddit during the 4th quarter worth approximately $28,000. Ridgewood Investments LLC increased its holdings in shares of Reddit by 100.0% during the 4th quarter. Ridgewood Investments LLC now owns 200 shares of the company’s stock worth $33,000 after buying an additional 100 shares during the last quarter. Farmers & Merchants Investments Inc. acquired a new stake in shares of Reddit during the 4th quarter worth approximately $33,000. Finally, Bogart Wealth LLC acquired a new stake in shares of Reddit during the 4th quarter worth approximately $33,000.

Analyst Upgrades and Downgrades

RDDT has been the subject of a number of research analyst reports. Jefferies Financial Group increased their price objective on shares of Reddit from $120.00 to $175.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Redburn Partners set a $75.00 price objective on shares of Reddit in a research report on Monday, March 17th. JPMorgan Chase & Co. increased their price objective on shares of Reddit from $142.00 to $185.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. Roth Capital cut shares of Reddit from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, January 22nd. Finally, Bank of America raised their price target on shares of Reddit from $180.00 to $190.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $162.68.

Insider Transactions at Reddit

In other news, CEO Steve Ladd Huffman sold 14,000 shares of the business’s stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $165.33, for a total transaction of $2,314,620.00. Following the transaction, the chief executive officer now directly owns 614,394 shares in the company, valued at $101,577,760.02. The trade was a 2.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Michelle Marie Reynolds sold 11,965 shares of the business’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $157.41, for a total transaction of $1,883,410.65. Following the transaction, the chief accounting officer now owns 48,418 shares in the company, valued at approximately $7,621,477.38. This trade represents a 19.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 492,794 shares of company stock worth $76,482,524 over the last ninety days.

Reddit Stock Performance

NYSE RDDT opened at $115.46 on Monday. The firm has a market cap of $20.89 billion and a PE ratio of -14.94. Reddit, Inc. has a one year low of $37.35 and a one year high of $230.41. The firm’s fifty day moving average is $171.19 and its two-hundred day moving average is $135.71.

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

Reddit 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.