Robeco Institutional Asset Management B.V. Has $28.43 Million Stock Holdings in Reddit Inc. $RDDT

Robeco Institutional Asset Management B.V. trimmed its stake in shares of Reddit Inc. (NYSE:RDDT) by 12.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 123,607 shares of the company’s stock after selling 18,378 shares during the quarter. Robeco Institutional Asset Management B.V. owned approximately 0.07% of Reddit worth $28,428,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Financial Perspectives Inc bought a new position in Reddit during the 2nd quarter worth approximately $34,000. Geneos Wealth Management Inc. raised its stake in Reddit by 344.6% during the first quarter. Geneos Wealth Management Inc. now owns 369 shares of the company’s stock worth $39,000 after buying an additional 286 shares during the last quarter. GAMMA Investing LLC raised its stake in Reddit by 8,650.0% during the third quarter. GAMMA Investing LLC now owns 175 shares of the company’s stock worth $40,000 after buying an additional 173 shares during the last quarter. Advisors Asset Management Inc. lifted its holdings in Reddit by 68.2% in the second quarter. Advisors Asset Management Inc. now owns 365 shares of the company’s stock valued at $55,000 after buying an additional 148 shares during the period. Finally, Western Pacific Wealth Management LP bought a new stake in Reddit during the second quarter valued at $60,000.

Reddit Trading Up 0.7%

NYSE RDDT opened at $255.48 on Thursday. The company has a market cap of $48.41 billion, a P/E ratio of 146.83, a PEG ratio of 1.70 and a beta of 2.17. The company has a fifty day simple moving average of $216.53 and a 200 day simple moving average of $205.77. Reddit Inc. has a 12-month low of $79.75 and a 12-month high of $282.95.

Reddit (NYSE:RDDT) last released its quarterly earnings data on Thursday, October 30th. The company reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.30. The firm had revenue of $584.91 million for the quarter, compared to analyst estimates of $546.65 million. Reddit had a net margin of 18.33% and a return on equity of 14.94%. The business’s quarterly revenue was up 67.9% compared to the same quarter last year. During the same period last year, the firm earned $0.16 earnings per share. Sell-side analysts predict that Reddit Inc. will post 1.12 EPS for the current year.

Insider Buying and Selling

In other news, CEO Steve Ladd Huffman sold 18,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $200.53, for a total value of $3,609,540.00. Following the transaction, the chief executive officer owned 494,104 shares in the company, valued at $99,082,675.12. This trade represents a 3.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Benjamin Seong Lee sold 55,005 shares of the company’s stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $221.21, for a total transaction of $12,167,656.05. Following the completion of the sale, the insider directly owned 62,608 shares of the company’s stock, valued at $13,849,515.68. The trade was a 46.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 465,333 shares of company stock worth $97,652,064 over the last 90 days. Company insiders own 34.25% of the company’s stock.

Analyst Upgrades and Downgrades

RDDT has been the topic of a number of recent analyst reports. Roth Capital set a $210.00 price objective on Reddit in a research note on Friday, October 31st. JPMorgan Chase & Co. lifted their target price on Reddit from $190.00 to $227.00 and gave the stock a “neutral” rating in a report on Friday, October 31st. Wells Fargo & Company increased their price target on Reddit from $155.00 to $174.00 and gave the stock a “cautious” rating in a report on Tuesday, October 7th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $236.00 price objective on shares of Reddit in a research note on Tuesday, October 14th. Finally, Wall Street Zen raised shares of Reddit from a “hold” rating to a “buy” rating in a research note on Sunday, December 14th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Reddit presently has a consensus rating of “Moderate Buy” and a consensus target price of $230.28.

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.