17,797 Shares in Reddit Inc. $RDDT Purchased by Motley Fool Asset Management LLC

Motley Fool Asset Management LLC acquired a new position in shares of Reddit Inc. (NYSE:RDDT) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 17,797 shares of the company’s stock, valued at approximately $4,091,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of 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 buying an additional 1,401,293 shares in the last quarter. Truist Financial Corp lifted its stake in shares of Reddit by 67.7% in the fourth quarter. Truist Financial Corp now owns 15,659 shares of the company’s stock worth $3,600,000 after buying an additional 6,321 shares in the last quarter. Swiss Life Asset Management Ltd lifted its stake in shares of Reddit by 63.2% in the fourth quarter. Swiss Life Asset Management Ltd now owns 32,003 shares of the company’s stock worth $7,357,000 after buying an additional 12,398 shares in the last quarter. WT Asset Management Ltd bought a new position in shares of Reddit in the third quarter worth approximately $92,973,000. Finally, Calamos Advisors LLC bought a new position in shares of Reddit in the fourth quarter worth approximately $2,299,000.

Insider Buying and Selling at Reddit

In other Reddit news, CEO Steve Ladd Huffman sold 18,000 shares of the company’s stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $174.13, for a total transaction 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. This represents a 4.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Jennifer L. Wong sold 39,167 shares of the company’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $158.52, for a total transaction of $6,208,752.84. Following the sale, the chief operating officer directly 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 250,499 shares of company stock valued at $38,515,283. Insiders own 28.48% of the company’s stock.

Wall Street Analyst Weigh In

RDDT has been the topic of several analyst reports. Citizens Jmp dropped their target price on shares of Reddit from $250.00 to $240.00 and set a “market outperform” rating on the stock in a research note on Friday, May 1st. Oppenheimer reissued an “outperform” rating and set a $225.00 price objective on shares of Reddit in a report on Friday, May 1st. DA Davidson reissued a “buy” rating and set a $200.00 price objective on shares of Reddit in a report on Friday, May 1st. Needham & Company LLC reissued a “buy” rating and set a $300.00 price objective on shares of Reddit in a report on Friday, May 1st. Finally, Piper Sandler reissued an “overweight” rating and set a $215.00 price objective (up from $205.00) on shares of Reddit in a report on Friday, May 1st. Eighteen investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $230.75.

Reddit Stock Down 3.1%

RDDT opened at $172.54 on Thursday. The firm has a 50 day moving average price of $156.09 and a 200-day moving average price of $177.06. Reddit Inc. has a twelve month low of $110.85 and a twelve month high of $282.95. The stock has a market capitalization of $33.22 billion, a price-to-earnings ratio of 49.30 and a beta of 1.91.

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

Reddit 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.