Advisor OS LLC Has $3.13 Million Holdings in Reddit, Inc. (NYSE:RDDT)

Advisor OS LLC cut its stake in shares of Reddit, Inc. (NYSE:RDDT) by 23.7% in the fourth quarter, Holdings Channel reports. The firm owned 19,121 shares of the company’s stock after selling 5,927 shares during the quarter. Advisor OS LLC’s holdings in Reddit were worth $3,125,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Ridgewood Investments LLC increased its holdings in shares of Reddit by 100.0% in the fourth quarter. Ridgewood Investments LLC now owns 200 shares of the company’s stock worth $33,000 after acquiring an additional 100 shares in the last quarter. UMB Bank n.a. raised its holdings in shares of Reddit by 10.8% in the fourth quarter. UMB Bank n.a. now owns 1,533 shares of the company’s stock valued at $251,000 after purchasing an additional 150 shares during the last quarter. Foundations Investment Advisors LLC increased its stake in Reddit by 3.0% in the 4th quarter. Foundations Investment Advisors LLC now owns 5,325 shares of the company’s stock valued at $870,000 after buying an additional 155 shares during the last quarter. Kingsview Wealth Management LLC raised its holdings in Reddit by 4.5% during the fourth quarter. Kingsview Wealth Management LLC now owns 3,986 shares of the company’s stock worth $651,000 after acquiring an additional 171 shares in the last quarter. Finally, Allworth Financial LP raised its stake in shares of Reddit by 970.0% during the 4th quarter. Allworth Financial LP now owns 214 shares of the company’s stock worth $35,000 after purchasing an additional 194 shares in the last quarter.

Insider Transactions at Reddit

In related news, CTO Christopher Brian Slowe sold 5,000 shares of the stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $184.15, for a total value of $920,750.00. Following the completion of the sale, the chief technology officer now directly owns 35,252 shares in the company, valued at $6,491,655.80. This represents a 12.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Steve Ladd Huffman sold 14,000 shares of Reddit stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $176.20, for a total value of $2,466,800.00. Following the transaction, the chief executive officer now directly owns 620,971 shares in the company, valued at $109,415,090.20. The trade was a 2.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 220,000 shares of company stock worth $38,754,528.

Reddit Stock Performance

NYSE RDDT opened at $159.59 on Wednesday. The firm’s fifty day moving average price is $183.68 and its two-hundred day moving average price is $125.70. The stock has a market cap of $28.87 billion and a PE ratio of -20.65. Reddit, Inc. has a fifty-two week low of $37.35 and a fifty-two week high of $230.41.

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 return on equity of 24.71% and a negative net margin of 37.25%. As a group, sell-side analysts predict that Reddit, Inc. will post 1.12 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Sanford C. Bernstein raised their price objective on Reddit from $65.00 to $85.00 and gave the company an “underperform” rating in a research report on Wednesday, October 30th. Piper Sandler upped their target price on Reddit from $210.00 to $220.00 and gave the company an “overweight” rating in a research report on Friday, February 21st. Seaport Res Ptn raised shares of Reddit to a “hold” rating in a research report on Thursday, February 6th. Roth Capital downgraded shares of Reddit from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, January 22nd. Finally, Wells Fargo & Company boosted their price target on Reddit from $206.00 to $215.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus 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.