5,143 Shares in Reddit Inc. $RDDT Acquired by Nvwm LLC

Nvwm LLC bought a new stake in Reddit Inc. (NYSE:RDDT) in the third quarter, HoldingsChannel reports. The fund bought 5,143 shares of the company’s stock, valued at approximately $1,183,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Reddit by 6.3% in the 2nd quarter. Vanguard Group Inc. now owns 10,837,215 shares of the company’s stock valued at $1,631,759,000 after purchasing an additional 638,663 shares during the last quarter. Alliancebernstein L.P. boosted its holdings in Reddit by 103.0% in the first quarter. Alliancebernstein L.P. now owns 5,659,990 shares of the company’s stock valued at $593,733,000 after acquiring an additional 2,871,232 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Reddit by 7.5% in the second quarter. JPMorgan Chase & Co. now owns 2,051,175 shares of the company’s stock valued at $308,846,000 after acquiring an additional 143,680 shares during the last quarter. State Street Corp grew its position in Reddit by 138.5% during the second quarter. State Street Corp now owns 2,030,139 shares of the company’s stock valued at $305,678,000 after acquiring an additional 1,178,890 shares during the period. Finally, Geode Capital Management LLC grew its position in Reddit by 72.1% during the second quarter. Geode Capital Management LLC now owns 1,989,004 shares of the company’s stock valued at $299,044,000 after acquiring an additional 833,245 shares during the period.

Analyst Ratings Changes

A number of equities analysts have recently commented on RDDT shares. Roth Capital set a $210.00 price objective on Reddit in a report on Friday, October 31st. B. Riley restated a “buy” rating and issued a $245.00 price target (up previously from $235.00) on shares of Reddit in a report on Friday, October 31st. China Renaissance assumed coverage on shares of Reddit in a research report on Tuesday, December 9th. They set a “buy” rating and a $300.00 price target on the stock. Oppenheimer boosted their price objective on shares of Reddit from $215.00 to $300.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 16th. Finally, Truist Financial set a $270.00 price objective on shares of Reddit in a research report on Friday, October 31st. Three analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, nine have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Reddit presently has a consensus rating of “Moderate Buy” and an average price target of $230.28.

Reddit Stock Up 0.1%

NYSE RDDT opened at $226.03 on Friday. Reddit Inc. has a fifty-two week low of $79.75 and a fifty-two week high of $282.95. The business has a 50 day moving average price of $211.36 and a two-hundred day moving average price of $198.97. The stock has a market cap of $42.83 billion, a PE ratio of 129.90, a P/E/G ratio of 2.49 and a beta of 2.17.

Reddit (NYSE:RDDT) last posted its quarterly earnings data on Thursday, October 30th. The company reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.30. The company had revenue of $584.91 million for the quarter, compared to analyst estimates of $546.65 million. Reddit had a net margin of 18.33% and a return on equity of 14.94%. The business’s quarterly revenue was up 67.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.16 earnings per share. Sell-side analysts anticipate that Reddit Inc. will post 1.12 EPS for the current fiscal year.

Insider Activity

In other Reddit news, COO Jennifer L. Wong sold 63,427 shares of the company’s stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $192.72, for a total value of $12,223,651.44. Following the completion of the transaction, the chief operating officer directly owned 1,184,528 shares of the company’s stock, valued at $228,282,236.16. This represents a 5.08% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Steve Ladd Huffman sold 18,000 shares of the firm’s stock in a transaction dated Tuesday, September 30th. The shares were sold at an average price of $229.10, for a total value of $4,123,800.00. Following the sale, the chief executive officer owned 494,104 shares of the company’s stock, valued at $113,199,226.40. This represents a 3.51% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 465,333 shares of company stock worth $97,164,104. 34.25% of the stock is 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.