Reddit Inc. $RDDT Shares Bought by WD Rutherford LLC

WD Rutherford LLC lifted its stake in shares of Reddit Inc. (NYSE:RDDT) by 105.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,216 shares of the company’s stock after buying an additional 5,249 shares during the quarter. WD Rutherford LLC’s holdings in Reddit were worth $2,348,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of RDDT. Raiffeisen Bank International AG purchased a new stake in shares of Reddit during the 3rd quarter worth approximately $25,000. GW&K Investment Management LLC acquired a new stake in Reddit during the 3rd quarter worth $30,000. Cornerstone Planning Group LLC boosted its stake in Reddit by 13,500.0% during the 3rd quarter. Cornerstone Planning Group LLC now owns 136 shares of the company’s stock worth $31,000 after purchasing an additional 135 shares during the period. LOM Asset Management Ltd acquired a new stake in Reddit during the 4th quarter worth $33,000. Finally, Noble Wealth Management PBC acquired a new stake in Reddit during the 4th quarter worth $34,000.

Reddit Stock Performance

Shares of Reddit stock opened at $158.44 on Monday. The company has a market cap of $30.50 billion, a P/E ratio of 45.27 and a beta of 1.85. Reddit Inc. has a one year low of $94.89 and a one year high of $282.95. The firm has a fifty day moving average of $146.48 and a two-hundred day moving average of $181.30.

Reddit (NYSE:RDDT) last announced its quarterly earnings data on Thursday, April 30th. The company reported $1.01 EPS for the quarter, topping analysts’ consensus estimates 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 net margin of 28.60% and a return on equity of 25.48%. Reddit’s quarterly revenue was up 69.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.13 EPS. As a group, equities analysts predict that Reddit Inc. will post 4.83 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Morgan Stanley set a $240.00 price target on shares of Reddit in a research note on Friday, February 6th. Roth Mkm increased their price target on shares of Reddit from $210.00 to $215.00 and gave the stock a “neutral” rating in a research note on Friday, January 30th. DA Davidson reiterated a “buy” rating and set a $200.00 price target on shares of Reddit in a research note on Friday, May 1st. Bank of America decreased their price target on shares of Reddit from $205.00 to $175.00 and set a “neutral” rating for the company in a research note on Thursday, April 2nd. Finally, Rothschild & Co Redburn set a $110.00 price target on shares of Reddit in a research note on Monday, April 27th. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and eleven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $228.61.

Insider Activity

In other news, CTO Christopher Brian Slowe sold 19,036 shares of the stock in a transaction dated 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 transaction, the chief technology officer owned 185,057 shares in the company, valued at $26,657,460.85. This trade represents a 9.33% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Steve Ladd Huffman sold 18,000 shares of the stock in a transaction dated Friday, February 27th. The shares were sold at an average price of $145.12, for a total transaction of $2,612,160.00. Following the completion of the transaction, the chief executive officer owned 411,195 shares of the company’s stock, valued at $59,672,618.40. This represents a 4.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 268,977 shares of company stock worth $39,750,959 in the last 90 days. 34.25% of the stock is currently owned by corporate 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.