WD Rutherford LLC Acquires 2,497 Shares of Reddit Inc. $RDDT

WD Rutherford LLC boosted its holdings in shares of Reddit Inc. (NYSE:RDDT) by 101.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,967 shares of the company’s stock after purchasing an additional 2,497 shares during the quarter. WD Rutherford LLC’s holdings in Reddit were worth $1,142,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. GAMMA Investing LLC boosted its position in shares of Reddit by 8,650.0% in the third quarter. GAMMA Investing LLC now owns 175 shares of the company’s stock valued at $40,000 after acquiring an additional 173 shares during the period. Financial Perspectives Inc acquired a new position in Reddit during the 2nd quarter valued at $34,000. Advisors Asset Management Inc. boosted its holdings in Reddit by 68.2% in the 2nd quarter. Advisors Asset Management Inc. now owns 365 shares of the company’s stock valued at $55,000 after purchasing an additional 148 shares during the period. Geneos Wealth Management Inc. grew its position in Reddit by 344.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 369 shares of the company’s stock worth $39,000 after purchasing an additional 286 shares during the last quarter. Finally, Western Pacific Wealth Management LP bought a new position in shares of Reddit during the 2nd quarter worth about $60,000.

Insider Activity

In other news, CAO Michelle Marie Reynolds sold 11,249 shares of the stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $232.95, for a total transaction of $2,620,454.55. Following the sale, the chief accounting officer owned 10,558 shares in the company, valued at approximately $2,459,486.10. This represents a 51.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Christopher Brian Slowe sold 14,000 shares of the firm’s stock in a transaction on Monday, December 22nd. The shares were sold at an average price of $233.53, for a total value of $3,269,420.00. Following the completion of the sale, the chief technology officer owned 171,694 shares of the company’s stock, valued at approximately $40,095,699.82. This trade represents a 7.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 465,333 shares of company stock valued at $97,652,064. Corporate insiders own 34.25% of the company’s stock.

Reddit Price Performance

Reddit stock opened at $255.48 on Thursday. The business has a 50 day simple moving average of $216.53 and a 200 day simple moving average of $205.77. The company has a market capitalization of $48.41 billion, a PE ratio of 146.83, a price-to-earnings-growth ratio of 1.70 and a beta of 2.17. Reddit Inc. has a one year low of $79.75 and a one year 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 (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.30. Reddit had a return on equity of 14.94% and a net margin of 18.33%.The firm had revenue of $584.91 million during the quarter, compared to analyst estimates of $546.65 million. During the same period in the prior year, the company posted $0.16 earnings per share. The business’s revenue for the quarter was up 67.9% compared to the same quarter last year. Equities analysts anticipate that Reddit Inc. will post 1.12 earnings per share for the current fiscal year.

Analysts Set New Price Targets

RDDT has been the subject of a number of research analyst reports. Jefferies Financial Group upped their price objective on shares of Reddit from $300.00 to $325.00 and gave the company a “buy” rating in a research report on Thursday, December 11th. Wall Street Zen raised Reddit from a “hold” rating to a “buy” rating in a report on Sunday, December 14th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $236.00 price objective on shares of Reddit in a research report on Tuesday, October 14th. Cantor Fitzgerald assumed coverage on Reddit in a research report on Thursday. They set a “neutral” rating and a $240.00 price objective on the stock. Finally, Zacks Research lowered Reddit from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 26th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $230.65.

About Reddit

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.