3,738 Shares in Reddit Inc. $RDDT Bought by Leonteq Securities AG

Leonteq Securities AG purchased a new position in Reddit Inc. (NYSE:RDDT) in the fourth quarter, Holdings Channel.com reports. The firm purchased 3,738 shares of the company’s stock, valued at approximately $859,000.

A number of other institutional investors have also bought and sold shares of the business. IFP Advisors Inc increased its stake in Reddit by 33.0% in the 4th quarter. IFP Advisors Inc now owns 1,059 shares of the company’s stock worth $243,000 after buying an additional 263 shares in the last quarter. Banque Cantonale Vaudoise increased its stake in Reddit by 249.2% in the 4th quarter. Banque Cantonale Vaudoise now owns 6,789 shares of the company’s stock worth $1,561,000 after buying an additional 4,845 shares in the last quarter. Cullen Frost Bankers Inc. increased its stake in Reddit by 0.3% in the 4th quarter. Cullen Frost Bankers Inc. now owns 35,139 shares of the company’s stock worth $8,077,000 after buying an additional 102 shares in the last quarter. Harvest Portfolios Group Inc. increased its stake in Reddit by 4,883.7% in the 4th quarter. Harvest Portfolios Group Inc. now owns 225,064 shares of the company’s stock worth $51,735,000 after buying an additional 220,548 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its stake in Reddit by 7.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 6,052 shares of the company’s stock worth $1,391,000 after buying an additional 415 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on RDDT. B. Riley Financial increased their price target on Reddit from $245.00 to $250.00 and gave the stock a “buy” rating in a research note on Friday, February 6th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $200.00 price target on shares of Reddit in a research note on Friday, May 1st. Roth Mkm increased their price target on Reddit from $210.00 to $215.00 and gave the stock a “neutral” rating in a research note on Friday, January 30th. Wall Street Zen lowered Reddit from a “buy” rating to a “hold” rating in a research note on Sunday, May 10th. Finally, Truist Financial set a $265.00 price target on Reddit in a research note on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $228.61.

Insider Buying and Selling

In related news, CTO Christopher Brian Slowe sold 19,036 shares of Reddit stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $144.05, for a total value of $2,742,135.80. Following the completion of the transaction, the chief technology officer owned 185,057 shares in the company, valued at approximately $26,657,460.85. This trade represents a 9.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Jennifer L. Wong sold 39,167 shares of Reddit stock in a transaction dated Thursday, April 16th. The stock was sold at an average price of $161.47, for a total value of $6,324,295.49. Following the completion of the transaction, the chief operating officer owned 1,088,451 shares of the company’s stock, valued at approximately $175,752,182.97. This represents a 3.47% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 326,144 shares of company stock worth $48,788,412. Corporate insiders own 34.25% of the company’s stock.

Reddit Trading Down 5.4%

RDDT opened at $141.87 on Friday. The firm has a market cap of $27.31 billion, a P/E ratio of 40.53 and a beta of 1.85. Reddit Inc. has a 12 month low of $95.23 and a 12 month high of $282.95. The stock has a 50-day moving average of $147.67 and a 200 day moving average of $179.50.

Reddit (NYSE:RDDT) last released its quarterly earnings results on Thursday, April 30th. The company reported $1.01 EPS for the quarter, topping the consensus estimate of $0.62 by $0.39. The company had revenue of $663.41 million during the quarter, compared to analyst estimates of $607.74 million. Reddit had a return on equity of 25.48% and a net margin of 28.60%.The firm’s revenue was up 69.1% on a year-over-year basis. During the same quarter last year, the business posted $0.13 earnings per share. On average, research analysts forecast that Reddit Inc. will post 4.83 earnings per share for the current fiscal year.

Reddit Company 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.