15,926 Shares in Reddit Inc. $RDDT Bought by Capital International Inc. CA

Capital International Inc. CA bought a new position in Reddit Inc. (NYSE:RDDT) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 15,926 shares of the company’s stock, valued at approximately $3,661,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Raiffeisen Bank International AG purchased a new position in Reddit in the third quarter worth $25,000. GW&K Investment Management LLC purchased a new position in Reddit in the third quarter worth $30,000. LOM Asset Management Ltd purchased a new stake in Reddit during the fourth quarter valued at about $33,000. Noble Wealth Management PBC purchased a new stake in Reddit during the fourth quarter valued at about $34,000. Finally, Geneos Wealth Management Inc. boosted its position in Reddit by 344.6% during the first quarter. Geneos Wealth Management Inc. now owns 369 shares of the company’s stock valued at $39,000 after buying an additional 286 shares during the period.

Insider Buying and Selling at Reddit

In other Reddit news, COO Jennifer L. Wong sold 39,167 shares of the firm’s stock in a transaction that occurred on Thursday, April 16th. The shares were sold at an average price of $161.47, for a total transaction of $6,324,295.49. Following the completion of the transaction, the chief operating officer owned 1,088,451 shares of the company’s stock, valued at approximately $175,752,182.97. This trade represents a 3.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Christopher Brian Slowe sold 15,500 shares of the firm’s stock in a transaction that occurred on Wednesday, April 8th. The shares were sold at an average price of $150.67, for a total transaction of $2,335,385.00. Following the transaction, the chief technology officer directly owned 38,413 shares of the company’s stock, valued at $5,787,686.71. This represents a 28.75% decrease in their position. 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 quarter, insiders sold 250,499 shares of company stock valued at $38,515,283. Corporate insiders own 28.48% of the company’s stock.

Reddit Price Performance

RDDT stock opened at $171.18 on Tuesday. Reddit Inc. has a 1 year low of $110.85 and a 1 year high of $282.95. The company has a market cap of $32.95 billion, a P/E ratio of 48.91 and a beta of 1.91. The firm has a 50-day moving average of $153.99 and a 200 day moving average of $177.19.

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

Wall Street Analysts Forecast Growth

Several analysts have issued reports on RDDT shares. Citigroup restated a “market outperform” rating on shares of Reddit in a research report on Tuesday, May 26th. Truist Financial set a $265.00 price target on shares of Reddit in a research report on Friday, May 1st. The Goldman Sachs Group reiterated a “neutral” rating and set a $200.00 target price on shares of Reddit in a report on Friday, May 1st. Loop Capital reiterated a “buy” rating and set a $260.00 target price on shares of Reddit in a report on Thursday. Finally, Piper Sandler reiterated an “overweight” rating and set a $215.00 target price (up from $205.00) on shares of Reddit in a report on Friday, May 1st. Eighteen research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $230.75.

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.