Reddit Inc. $RDDT Holdings Increased by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Reddit Inc. (NYSE:RDDT) by 8.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 481,893 shares of the company’s stock after purchasing an additional 39,540 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.25% of Reddit worth $83,647,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of RDDT. Truist Financial Corp boosted its position in shares of Reddit by 67.7% in the 4th quarter. Truist Financial Corp now owns 15,659 shares of the company’s stock valued at $3,600,000 after purchasing an additional 6,321 shares during the period. Swiss Life Asset Management Ltd grew its position in Reddit by 63.2% during the fourth quarter. Swiss Life Asset Management Ltd now owns 32,003 shares of the company’s stock valued at $7,357,000 after purchasing an additional 12,398 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Reddit by 21.8% during the 2nd quarter. Wellington Management Group LLP now owns 1,564,535 shares of the company’s stock valued at $271,572,000 after acquiring an additional 280,030 shares in the last quarter. Handelsbanken Fonder AB increased its position in Reddit by 22.9% in the 4th quarter. Handelsbanken Fonder AB now owns 37,000 shares of the company’s stock worth $8,505,000 after purchasing an additional 6,900 shares during the last quarter. Finally, Berkshire Capital Holdings Inc. increased its holdings in Reddit by 326,400.0% in the fourth quarter. Berkshire Capital Holdings Inc. now owns 32,650 shares of the company’s stock worth $7,505,000 after buying an additional 32,640 shares during the last quarter.

Reddit Price Performance

RDDT stock opened at $158.05 on Thursday. Reddit Inc. has a fifty-two week low of $119.27 and a fifty-two week high of $282.95. The stock has a market capitalization of $30.41 billion, a PE ratio of 36.76, a price-to-earnings-growth ratio of 0.67 and a beta of 2.02. The company has a 50 day moving average price of $170.88 and a 200 day moving average price of $158.72.

Reddit (NYSE:RDDT) last posted its quarterly earnings results on Thursday, July 30th. The company reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.30. The business had revenue of $804.91 million for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter last year, the business earned $0.45 earnings per share. As a group, equities analysts expect that Reddit Inc. will post 5.27 earnings per share for the current fiscal year.

Insider Buying and Selling at Reddit

In related news, CEO Steve Ladd Huffman sold 18,000 shares of the stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $173.13, for a total value of $3,116,340.00. Following the transaction, the chief executive officer directly owned 373,814 shares in the company, valued at $64,718,417.82. This represents a 4.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Michelle Marie Reynolds sold 808 shares of the firm’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $200.00, for a total transaction of $161,600.00. Following the completion of the transaction, the chief accounting officer directly owned 15,060 shares in the company, valued at approximately $3,012,000. The trade was a 5.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 210,102 shares of company stock worth $36,375,252 over the last quarter. Company insiders own 28.48% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on RDDT shares. DA Davidson reissued a “buy” rating and set a $200.00 target price on shares of Reddit in a research report on Thursday, July 23rd. UBS Group reiterated a “buy” rating on shares of Reddit in a research note on Friday, July 31st. Telsey Advisory Group set a $240.00 price objective on Reddit in a research report on Friday, July 31st. Weiss Ratings reiterated a “hold (c)” rating on shares of Reddit in a research report on Wednesday, August 5th. Finally, Robert W. Baird set a $185.00 price target on Reddit in a research report on Friday, July 31st. Two analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $221.10.

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.