Fjarde AP Fonden Fourth Swedish National Pension Fund Purchases 11,587 Shares of Reddit Inc. $RDDT

Fjarde AP Fonden Fourth Swedish National Pension Fund grew its holdings in Reddit Inc. (NYSE:RDDT) by 46.7% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 36,387 shares of the company’s stock after purchasing an additional 11,587 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Reddit were worth $4,900,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in RDDT. Institute for Wealth Management LLC. boosted its stake in Reddit by 6.1% during the 4th quarter. Institute for Wealth Management LLC. now owns 1,071 shares of the company’s stock valued at $246,000 after purchasing an additional 62 shares during the period. Roxbury Financial LLC lifted its holdings in shares of Reddit by 7.4% during the fourth quarter. Roxbury Financial LLC now owns 929 shares of the company’s stock worth $214,000 after buying an additional 64 shares during the last quarter. Florida Financial Advisors LLC lifted its holdings in shares of Reddit by 6.7% during the fourth quarter. Florida Financial Advisors LLC now owns 1,087 shares of the company’s stock worth $250,000 after buying an additional 68 shares during the last quarter. Diversified Trust Co boosted its position in shares of Reddit by 2.1% in the first quarter. Diversified Trust Co now owns 3,271 shares of the company’s stock valued at $440,000 after acquiring an additional 68 shares during the period. Finally, IFP Advisors Inc increased its position in Reddit by 9.9% during the third quarter. IFP Advisors Inc now owns 796 shares of the company’s stock worth $183,000 after acquiring an additional 72 shares during the period.

Insider Activity

In related news, CTO Christopher Brian Slowe sold 15,500 shares of the firm’s stock in a transaction on Wednesday, April 8th. The stock was sold at an average price of $150.67, for a total transaction of $2,335,385.00. Following the completion of the sale, the chief technology officer directly owned 38,413 shares of the company’s stock, valued at $5,787,686.71. This trade represents a 28.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Jennifer L. Wong sold 39,167 shares of the business’s stock in a transaction on Thursday, April 16th. The stock was sold at an average price of $161.47, for a total value of $6,324,295.49. Following the completion of the transaction, the chief operating officer directly owned 1,088,451 shares in the company, valued at approximately $175,752,182.97. This represents a 3.47% 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 90 days, insiders sold 241,808 shares of company stock worth $40,191,725. Insiders own 28.48% of the company’s stock.

Reddit Stock Performance

RDDT opened at $200.67 on Tuesday. The firm has a market cap of $38.63 billion, a price-to-earnings ratio of 57.33 and a beta of 1.93. The firm’s 50-day simple moving average is $164.92 and its 200-day simple moving average is $171.59. Reddit Inc. has a twelve month low of $119.27 and a twelve month high of $282.95.

Reddit (NYSE:RDDT) last announced its quarterly earnings results on Thursday, April 30th. The company reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.39. The firm 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%. The firm’s quarterly revenue was up 69.1% on a year-over-year basis. During the same period last year, the firm posted $0.13 EPS. As a group, sell-side analysts anticipate that Reddit Inc. will post 4.83 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on RDDT shares. Wells Fargo & Company lifted their target price on Reddit from $176.00 to $187.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Wall Street Zen downgraded Reddit from a “buy” rating to a “hold” rating in a research report on Sunday, May 10th. DA Davidson reissued a “buy” rating and set a $200.00 price objective on shares of Reddit in a report on Friday, May 1st. Citigroup restated a “market outperform” rating on shares of Reddit in a research report on Tuesday, May 26th. Finally, Zacks Research lowered Reddit from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 3rd. Eighteen analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Reddit has a consensus rating of “Moderate Buy” and a consensus price target of $231.14.

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.