Reddit Inc. $RDDT Shares Acquired by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. increased its stake in shares of Reddit Inc. (NYSE:RDDT) by 74.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 809,063 shares of the company’s stock after purchasing an additional 345,735 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Reddit were worth $115,243,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in RDDT. Prime Capital Investment Advisors LLC lifted its holdings in Reddit by 60.7% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 4,352 shares of the company’s stock valued at $620,000 after purchasing an additional 1,644 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in shares of Reddit by 34.3% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 25,367 shares of the company’s stock worth $3,613,000 after purchasing an additional 6,482 shares during the last quarter. SteelPeak Wealth LLC acquired a new stake in shares of Reddit during the 3rd quarter worth about $1,880,000. TD Waterhouse Canada Inc. grew its holdings in shares of Reddit by 3.6% during the third quarter. TD Waterhouse Canada Inc. now owns 7,600 shares of the company’s stock worth $1,137,000 after buying an additional 261 shares in the last quarter. Finally, Shelton Wealth Management LLC grew its holdings in shares of Reddit by 382.8% during the third quarter. Shelton Wealth Management LLC now owns 11,578 shares of the company’s stock worth $1,649,000 after buying an additional 9,180 shares in the last quarter.

Insider Activity

In related news, Director Robert A. Sauerberg sold 5,128 shares of the firm’s stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $159.92, for a total value of $820,069.76. Following the sale, the director directly owned 27,087 shares of the company’s stock, valued at approximately $4,331,753.04. This trade represents a 15.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Jennifer L. Wong sold 75,000 shares of the business’s stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $178.55, for a total transaction of $13,391,250.00. Following the completion of the sale, the chief operating officer owned 1,050,339 shares of the company’s stock, valued at approximately $187,538,028.45. The trade was a 6.66% decrease in their ownership of the stock. 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 sold a total of 306,052 shares of company stock valued at $49,754,523 in the last 90 days. 28.48% of the stock is currently owned by insiders.

Reddit Trading Down 1.4%

NYSE RDDT opened at $153.40 on Thursday. The business’s 50-day moving average price is $154.14 and its 200 day moving average price is $162.05. Reddit Inc. has a twelve month low of $119.27 and a twelve month high of $263.50. The company has a market capitalization of $29.51 billion, a PE ratio of 35.67, a price-to-earnings-growth ratio of 0.72 and a beta of 2.05.

Reddit (NYSE:RDDT) last issued its quarterly earnings results on Thursday, July 30th. The company reported $1.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.30. The firm had revenue of $804.91 million for the quarter, compared to analyst estimates of $731.00 million. Reddit had a return on equity of 29.02% and a net margin of 31.35%. The firm’s quarterly revenue was up 61.0% on a year-over-year basis. During the same period last year, the company earned $0.45 EPS. Equities analysts predict that Reddit Inc. will post 5.27 EPS for the current year.

Analyst Ratings Changes

A number of research firms have recently weighed in on RDDT. Cantor Fitzgerald cut their price objective on shares of Reddit from $200.00 to $170.00 and set a “neutral” rating for the company in a research report on Friday, July 31st. Raymond James Financial reissued a “strong-buy” rating and set a $205.00 price objective on shares of Reddit in a research note on Monday, August 17th. Jefferies Financial Group set a $250.00 target price on shares of Reddit in a research report on Friday, July 10th. Morgan Stanley lowered their target price on shares of Reddit from $240.00 to $210.00 and set an “overweight” rating for the company in a research note on Friday, August 21st. Finally, Truist Financial lifted their target price on shares of Reddit from $265.00 to $275.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $219.29.

Reddit Company Profile

Reddit, Inc operates a global online platform where users participate in communities organized around shared interests, topics and activities. Members can submit text posts, links, images and videos, as well as comment on and vote on content. The platform includes thousands of communities, commonly known as subreddits, covering subjects such as news, entertainment, technology, sports, finance and lifestyle.

Reddit generates revenue primarily through digital advertising, offering advertisers access to audiences based on community interests and user engagement.