Militia Capital Partners LP Sells 4,300 Shares of Reddit Inc. $RDDT

Militia Capital Partners LP cut its stake in Reddit Inc. (NYSE:RDDT) by 50.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,300 shares of the company’s stock after selling 4,300 shares during the quarter. Militia Capital Partners LP’s holdings in Reddit were worth $988,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Huntington National Bank increased its stake in shares of Reddit by 25.6% in the 3rd quarter. Huntington National Bank now owns 270 shares of the company’s stock valued at $62,000 after acquiring an additional 55 shares during the last quarter. Institute for Wealth Management LLC. increased its stake in shares of Reddit by 6.1% in the 4th quarter. Institute for Wealth Management LLC. now owns 1,071 shares of the company’s stock valued at $246,000 after acquiring an additional 62 shares during the last quarter. Roxbury Financial LLC increased its stake in shares of Reddit by 7.4% in the 4th quarter. Roxbury Financial LLC now owns 929 shares of the company’s stock valued at $214,000 after acquiring an additional 64 shares during the last quarter. Florida Financial Advisors LLC increased its stake in shares of Reddit by 6.7% in the 4th quarter. Florida Financial Advisors LLC now owns 1,087 shares of the company’s stock valued at $250,000 after acquiring an additional 68 shares during the last quarter. Finally, IFP Advisors Inc increased its stake in shares of Reddit by 9.9% in the 3rd quarter. IFP Advisors Inc now owns 796 shares of the company’s stock valued at $183,000 after acquiring an additional 72 shares during the last quarter.

Analyst Ratings Changes

A number of brokerages have recently commented on RDDT. Citizens Jmp lowered their price target on Reddit from $250.00 to $240.00 and set a “market outperform” rating for the company in a research note on Friday, May 1st. Needham & Company LLC reissued a “buy” rating and set a $300.00 target price on shares of Reddit in a research note on Friday, May 1st. Oppenheimer reissued an “outperform” rating and set a $225.00 target price on shares of Reddit in a research note on Friday, May 1st. Wells Fargo & Company increased their target price on Reddit from $149.00 to $176.00 and gave the stock an “equal weight” rating in a research note on Friday, May 1st. Finally, Jefferies Financial Group lowered their target price on Reddit from $285.00 to $250.00 and set a “buy” rating for the company in a research note on Tuesday, March 10th. Eighteen investment analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. According to MarketBeat, Reddit presently has a consensus rating of “Moderate Buy” and an average price target of $230.75.

Reddit Stock Down 3.4%

Shares of RDDT opened at $175.66 on Wednesday. The stock has a market capitalization of $33.82 billion, a P/E ratio of 50.19 and a beta of 1.91. Reddit Inc. has a twelve month low of $119.27 and a twelve month high of $282.95. The company has a 50 day moving average of $159.09 and a 200-day moving average of $176.27.

Reddit (NYSE:RDDT) last released its quarterly earnings data on Thursday, April 30th. The company reported $1.01 EPS for the quarter, beating the consensus estimate of $0.62 by $0.39. The company had revenue of $663.41 million during the quarter, compared to the consensus estimate of $607.74 million. Reddit had a return on equity of 25.48% and a net margin of 28.60%.The firm’s revenue for the quarter was up 69.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.13 EPS. On average, sell-side analysts anticipate that Reddit Inc. will post 4.83 earnings per share for the current fiscal year.

Insider Activity

In other news, COO Jennifer L. Wong sold 39,167 shares of the stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $158.52, for a total value of $6,208,752.84. Following the completion of the sale, the chief operating officer owned 1,088,451 shares of the company’s stock, valued at approximately $172,541,252.52. This represents a 3.47% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Steve Ladd Huffman sold 18,000 shares of the stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $174.13, for a total value of $3,134,340.00. Following the completion of the sale, the chief executive officer directly owned 373,814 shares of the company’s stock, valued at approximately $65,092,231.82. The trade was a 4.59% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 193,334 shares of company stock valued at $30,507,093. 28.48% of the stock is owned by insiders.

Reddit Company Profile

Reddit is an online social news aggregation, discussion and content-sharing platform organized around user-created communities called “subreddits,” each focused on a particular topic or interest. Registered users submit links, text posts, images and video, and community members vote and comment to surface popular content. The site is accessed via its web platform and mobile apps for iOS and Android, and it supports live events such as Ask Me Anything (AMA) sessions and community-driven discussions.

Founded in 2005 by Steve Huffman and Alexis Ohanian, Reddit is headquartered in San Francisco and serves a global audience with particularly large user bases in the United States and other English-speaking markets.