48,877 Shares in Reddit, Inc. (NYSE:RDDT) Bought by Sivia Capital Partners LLC

Sivia Capital Partners LLC acquired a new stake in shares of Reddit, Inc. (NYSE:RDDT) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm acquired 48,877 shares of the company’s stock, valued at approximately $3,222,000. Reddit makes up 1.9% of Sivia Capital Partners LLC’s portfolio, making the stock its 11th largest position.

Several other large investors have also bought and sold shares of the stock. VY Capital Management Co. Ltd. bought a new stake in Reddit in the 3rd quarter worth approximately $474,403,000. Inclusive Capital Partners L.P. purchased a new position in Reddit in the 1st quarter worth approximately $103,051,000. Vanguard Group Inc. purchased a new position in Reddit in the 1st quarter worth approximately $82,167,000. Price T Rowe Associates Inc. MD purchased a new position in Reddit in the 1st quarter worth approximately $37,015,000. Finally, Blackstone Inc. purchased a new position in Reddit in the 1st quarter worth approximately $36,990,000.

Insider Transactions at Reddit

In related news, Director Mary Porter Gale sold 15,000 shares of the company’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $52.73, for a total value of $790,950.00. Following the completion of the transaction, the director now owns 101,459 shares of the company’s stock, valued at approximately $5,349,933.07. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Reddit news, Director Mary Porter Gale sold 15,000 shares of the stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $52.73, for a total transaction of $790,950.00. Following the completion of the transaction, the director now owns 101,459 shares of the company’s stock, valued at $5,349,933.07. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Steve Ladd Huffman sold 14,000 shares of the stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $66.20, for a total value of $926,800.00. Following the transaction, the chief executive officer now directly owns 651,775 shares of the company’s stock, valued at $43,147,505. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 337,993 shares of company stock worth $19,517,419 over the last quarter.

Reddit Stock Up 2.3 %

Shares of RDDT traded up $1.65 during mid-day trading on Monday, reaching $74.90. The company had a trading volume of 3,008,608 shares, compared to its average volume of 4,396,958. Reddit, Inc. has a 52-week low of $37.35 and a 52-week high of $78.08. The stock has a 50 day moving average of $60.86 and a two-hundred day moving average of $58.12.

Reddit (NYSE:RDDT) last issued its earnings results on Tuesday, August 6th. The company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.25. The company had revenue of $281.20 million during the quarter, compared to analysts’ expectations of $253.86 million. During the same quarter in the previous year, the company earned ($0.70) EPS. The firm’s quarterly revenue was up 53.6% compared to the same quarter last year. On average, sell-side analysts predict that Reddit, Inc. will post -4.11 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have commented on the company. Sanford C. Bernstein upped their price target on Reddit from $45.00 to $50.00 and gave the stock an “underperform” rating in a research report on Monday, July 22nd. Needham & Company LLC lifted their target price on Reddit from $75.00 to $85.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. JPMorgan Chase & Co. lifted their target price on Reddit from $59.00 to $77.00 and gave the stock a “neutral” rating in a report on Monday, October 7th. JMP Securities restated a “market outperform” rating and set a $84.00 price objective on shares of Reddit in a report on Tuesday, July 30th. Finally, Loop Capital raised Reddit from a “hold” rating to a “buy” rating and set a $75.00 target price for the company in a research report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $70.28.

About Reddit

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.