Reddit (NYSE:RDDT) Given New $250.00 Price Target at Jefferies Financial Group

Reddit (NYSE:RDDT) had its target price decreased by Jefferies Financial Group from $285.00 to $250.00 in a research report report published on Tuesday morning,Benzinga reports. Jefferies Financial Group currently has a buy rating on the stock.

Other research analysts have also issued research reports about the company. Roth Mkm increased their target price on Reddit from $210.00 to $215.00 and gave the company a “neutral” rating in a research report on Friday, January 30th. China Renaissance started coverage on shares of Reddit in a research report on Tuesday, December 9th. They set a “buy” rating and a $300.00 price objective for the company. Needham & Company LLC reaffirmed a “buy” rating and set a $300.00 price objective on shares of Reddit in a report on Friday, February 6th. B. Riley Financial lifted their target price on shares of Reddit from $245.00 to $250.00 and gave the company a “buy” rating in a research report on Friday, February 6th. Finally, Wall Street Zen cut shares of Reddit from a “buy” rating to a “hold” rating in a research note on Saturday. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $236.00.

Reddit Trading Down 3.6%

NYSE RDDT opened at $133.90 on Tuesday. The stock has a market capitalization of $25.58 billion, a price-to-earnings ratio of 51.11, a PEG ratio of 1.01 and a beta of 2.40. The stock has a 50-day moving average of $183.61 and a 200 day moving average of $206.64. Reddit has a twelve month low of $79.75 and a twelve month high of $282.95.

Reddit (NYSE:RDDT) last issued its quarterly earnings data on Thursday, February 5th. The company reported $1.24 EPS for the quarter, beating the consensus estimate of $0.96 by $0.28. The company had revenue of $725.61 million for the quarter, compared to analyst estimates of $665.80 million. Reddit had a return on equity of 20.89% and a net margin of 24.05%.Reddit’s quarterly revenue was up 69.7% compared to the same quarter last year. During the same period last year, the company earned $0.36 earnings per share. Equities analysts predict that Reddit will post 1.12 EPS for the current fiscal year.

Insider Buying and Selling at Reddit

In related news, COO Jennifer L. Wong sold 39,167 shares of Reddit stock in a transaction that occurred on Friday, December 19th. The stock was sold at an average price of $234.37, for a total transaction of $9,179,569.79. Following the transaction, the chief operating officer owned 1,184,528 shares in the company, valued at approximately $277,617,827.36. This trade represents a 3.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CTO Christopher Brian Slowe sold 19,036 shares of the company’s stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $144.05, for a total value of $2,742,135.80. Following the completion of the sale, the chief technology officer owned 185,057 shares of the company’s stock, valued at approximately $26,657,460.85. The trade was a 9.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 423,835 shares of company stock worth $87,842,134. 34.25% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Resona Asset Management Co. Ltd. lifted its holdings in Reddit by 53.2% in the third quarter. Resona Asset Management Co. Ltd. now owns 30,944 shares of the company’s stock valued at $7,166,000 after acquiring an additional 10,743 shares during the last quarter. Vanguard Group Inc. grew its position in Reddit by 12.9% in the third quarter. Vanguard Group Inc. now owns 12,238,508 shares of the company’s stock worth $2,814,734,000 after acquiring an additional 1,401,293 shares during the period. Optimize Financial Inc acquired a new stake in Reddit during the third quarter worth $1,420,000. WT Asset Management Ltd acquired a new stake in Reddit during the third quarter worth $92,973,000. Finally, Wealth Enhancement Advisory Services LLC raised its position in Reddit by 95.4% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 16,139 shares of the company’s stock valued at $3,712,000 after purchasing an additional 7,881 shares during the period.

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.