Capital International Sarl Makes New Investment in Reddit Inc. $RDDT

Capital International Sarl purchased a new position in shares of Reddit Inc. (NYSE:RDDT) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 46,337 shares of the company’s stock, valued at approximately $10,651,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Raiffeisen Bank International AG purchased a new position in shares of Reddit during the third quarter worth $25,000. GW&K Investment Management LLC purchased a new position in shares of Reddit during the third quarter worth $30,000. LOM Asset Management Ltd purchased a new position in Reddit in the fourth quarter valued at $33,000. Noble Wealth Management PBC purchased a new position in Reddit in the fourth quarter valued at $34,000. Finally, Sound Income Strategies LLC purchased a new position in Reddit in the fourth quarter valued at $47,000.

Analysts Set New Price Targets

A number of research analysts recently issued reports on RDDT shares. Jefferies Financial Group decreased their target price on Reddit from $285.00 to $250.00 and set a “buy” rating for the company in a report on Tuesday, March 10th. Weiss Ratings reiterated a “hold (c)” rating on shares of Reddit in a report on Friday, May 8th. Wells Fargo & Company lifted their target price on Reddit from $149.00 to $176.00 and gave the company an “equal weight” rating in a report on Friday, May 1st. Truist Financial set a $265.00 target price on Reddit in a report on Friday, May 1st. Finally, Loop Capital reiterated a “buy” rating and issued a $260.00 target price on shares of Reddit in a report on Thursday. Eighteen research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $230.75.

Reddit Price Performance

Reddit stock opened at $173.37 on Friday. Reddit Inc. has a 1-year low of $110.85 and a 1-year high of $282.95. The stock has a market cap of $33.38 billion, a PE ratio of 49.53 and a beta of 1.91. The stock’s fifty day moving average is $153.12 and its two-hundred day moving average is $177.36.

Reddit (NYSE:RDDT) last posted its quarterly 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 return on equity of 25.48% and a net margin of 28.60%.The company had revenue of $663.41 million for the quarter, compared to analysts’ expectations of $607.74 million. During the same period last year, the firm earned $0.13 earnings per share. Reddit’s quarterly revenue was up 69.1% on a year-over-year basis. On average, research analysts expect that Reddit Inc. will post 4.83 earnings per share for the current fiscal year.

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 on Monday, May 18th. The stock was sold at an average price of $158.52, for a total value of $6,208,752.84. Following the sale, the chief operating officer directly owned 1,088,451 shares in the company, valued at $172,541,252.52. This trade represents a 3.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Steve Ladd Huffman sold 18,000 shares of Reddit stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $174.13, for a total value of $3,134,340.00. Following the sale, the chief executive officer owned 373,814 shares in the company, valued at $65,092,231.82. This trade represents a 4.59% 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. Insiders have sold a total of 259,999 shares of company stock worth $39,812,508 over the last ninety days. Corporate insiders own 28.48% of the company’s stock.

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.