Daiwa Securities Group Inc. bought a new stake in Reddit, Inc. (NYSE:RDDT – Free Report) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 1,285 shares of the company’s stock, valued at approximately $85,000.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. StoneCrest Wealth Management Inc. grew its stake in shares of Reddit by 2.6% during the 3rd quarter. StoneCrest Wealth Management Inc. now owns 6,846 shares of the company’s stock valued at $451,000 after buying an additional 176 shares during the period. Whittier Trust Co. acquired a new position in Reddit in the third quarter valued at $42,000. Vestor Capital LLC grew its position in Reddit by 1.1% during the third quarter. Vestor Capital LLC now owns 84,787 shares of the company’s stock valued at $5,589,000 after acquiring an additional 922 shares during the period. SOA Wealth Advisors LLC. acquired a new stake in Reddit during the second quarter worth about $78,000. Finally, UMB Bank n.a. purchased a new position in shares of Reddit in the 2nd quarter worth about $88,000.
Insiders Place Their Bets
In related news, insider Benjamin Seong Lee sold 18,519 shares of the business’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $146.06, for a total transaction of $2,704,885.14. Following the completion of the sale, the insider now owns 138,401 shares of the company’s stock, valued at $20,214,850.06. This represents a 11.80 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Christopher Brian Slowe sold 21,000 shares of the firm’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $146.01, for a total transaction of $3,066,210.00. Following the completion of the transaction, the chief technology officer now directly owns 297,925 shares in the company, valued at $43,500,029.25. This represents a 6.58 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 311,644 shares of company stock valued at $29,210,730 in the last quarter.
Analysts Set New Price Targets
Get Our Latest Analysis on Reddit
Reddit Trading Up 0.5 %
NYSE RDDT opened at $140.69 on Monday. Reddit, Inc. has a 12 month low of $37.35 and a 12 month high of $158.49. The company’s fifty day moving average price is $99.72 and its two-hundred day moving average price is $74.46.
Reddit (NYSE:RDDT – Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $0.16 EPS for the quarter, topping the consensus estimate of ($0.07) by $0.23. The business had revenue of $348.40 million for the quarter, compared to analysts’ expectations of $313.61 million. Reddit had a negative net margin of 47.83% and a negative return on equity of 40.54%. The business’s revenue was up 67.9% compared to the same quarter last year. Analysts predict that Reddit, Inc. will post -3.63 EPS for the current year.
Reddit Profile
Reddit, Inc operates a website that organizes digital communities. It organizes communities based on specific interests that enable users to engage in conversations by sharing experiences, submitting links, uploading images and videos, and replying to one another. The company was founded in 2005 and is headquartered in San Francisco, California.
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