7,939 Shares in Reddit Inc. $RDDT Purchased by Transcendent Capital Group LLC

Transcendent Capital Group LLC purchased a new stake in shares of Reddit Inc. (NYSE:RDDT) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 7,939 shares of the company’s stock, valued at approximately $1,825,000.

A number of other large investors also recently bought and sold shares of the stock. CWM LLC grew its stake in shares of Reddit by 3.2% during the 4th quarter. CWM LLC now owns 11,536 shares of the company’s stock worth $2,652,000 after purchasing an additional 360 shares during the period. KBC Group NV increased its holdings in shares of Reddit by 63.8% during the 4th quarter. KBC Group NV now owns 16,121 shares of the company’s stock valued at $3,705,000 after purchasing an additional 6,277 shares in the last quarter. Farther Finance Advisors LLC lifted its stake in shares of Reddit by 103.3% in the 4th quarter. Farther Finance Advisors LLC now owns 12,957 shares of the company’s stock valued at $2,978,000 after purchasing an additional 6,585 shares during the period. LOM Asset Management Ltd acquired a new position in shares of Reddit in the 4th quarter valued at $33,000. Finally, Oak Ridge Investments LLC boosted its holdings in Reddit by 5.7% during the fourth quarter. Oak Ridge Investments LLC now owns 30,807 shares of the company’s stock worth $7,082,000 after buying an additional 1,661 shares in the last quarter.

Insider Transactions at Reddit

In other Reddit news, CEO Steve Ladd Huffman sold 18,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 31st. The stock was sold at an average price of $132.77, for a total transaction of $2,389,860.00. Following the completion of the sale, the chief executive officer directly owned 411,195 shares in the company, valued at approximately $54,594,360.15. The trade was a 4.19% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Christopher Brian Slowe sold 15,500 shares of the stock in a transaction that occurred on Wednesday, April 8th. The shares were sold at an average price of $150.67, for a total value of $2,335,385.00. Following the transaction, the chief technology officer directly owned 38,413 shares of the company’s stock, valued at $5,787,686.71. The trade was a 28.75% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have purchased 61,000 shares of company stock valued at $8,870,815 and have sold 294,441 shares valued at $46,813,210. Insiders own 34.25% of the company’s stock.

Reddit Stock Performance

NYSE:RDDT opened at $162.38 on Friday. The stock has a market capitalization of $31.02 billion, a PE ratio of 61.98, a P/E/G ratio of 1.15 and a beta of 2.40. Reddit Inc. has a fifty-two week low of $90.78 and a fifty-two week high of $282.95. The company has a fifty day moving average of $141.15 and a two-hundred day moving average of $188.09.

Reddit (NYSE:RDDT) last announced its earnings results on Thursday, February 5th. The company reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.28. Reddit had a net margin of 24.05% and a return on equity of 20.89%. The business had revenue of $725.61 million for the quarter, compared to analyst estimates of $665.80 million. During the same quarter last year, the business earned $0.36 earnings per share. The company’s revenue for the quarter was up 69.7% compared to the same quarter last year. Research analysts forecast that Reddit Inc. will post 1.12 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Reddit in a report on Monday, December 29th. Truist Financial lowered their target price on shares of Reddit from $275.00 to $260.00 and set a “buy” rating on the stock in a research note on Tuesday, April 7th. Cantor Fitzgerald dropped their target price on Reddit from $240.00 to $170.00 and set a “neutral” rating on the stock in a research report on Friday, February 6th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $285.00 price target on shares of Reddit in a research note on Tuesday, January 20th. Finally, Zacks Research cut Reddit from a “strong-buy” rating to a “hold” rating in a report on Friday, December 26th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $237.46.

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.