Reddit Inc. $RDDT Shares Newly Purchased by Vilga Financial Planning LLC

Vilga Financial Planning LLC bought a new position in Reddit Inc. (NYSE:RDDT) during the third quarter, Holdings Channel reports. The fund bought 5,386 shares of the company’s stock, valued at approximately $767,000.

A number of other large investors also recently bought and sold shares of the business. GAMMA Investing LLC grew its stake in shares of Reddit by 298.2% in the 3rd quarter. GAMMA Investing LLC now owns 2,007 shares of the company’s stock worth $286,000 after buying an additional 1,503 shares during the last quarter. Elevation Wealth Partners LLC grew its stake in shares of Reddit by 5,022.2% in the third quarter. Elevation Wealth Partners LLC now owns 461 shares of the company’s stock worth $66,000 after acquiring an additional 452 shares during the last quarter. Family Legacy Financial Solutions LLC increased its holdings in shares of Reddit by 48.3% during the third quarter. Family Legacy Financial Solutions LLC now owns 3,070 shares of the company’s stock valued at $437,000 after acquiring an additional 1,000 shares in the last quarter. Rhodes Investment Advisors Inc. ADV raised its position in shares of Reddit by 4.6% in the 3rd quarter. Rhodes Investment Advisors Inc. ADV now owns 5,020 shares of the company’s stock worth $715,000 after purchasing an additional 220 shares during the last quarter. Finally, Byrne Asset Management LLC raised its position in shares of Reddit by 44.4% in the 3rd quarter. Byrne Asset Management LLC now owns 426 shares of the company’s stock worth $64,000 after purchasing an additional 131 shares during the last quarter.

Reddit Stock Up 2.6%

Reddit stock opened at $156.66 on Friday. The business has a 50-day simple moving average of $153.93 and a two-hundred day simple moving average of $160.61. The company has a market cap of $30.14 billion, a P/E ratio of 36.43, a P/E/G ratio of 0.71 and a beta of 2.05. Reddit Inc. has a 52-week low of $119.27 and a 52-week high of $263.50.

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

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Guggenheim reissued a “buy” rating on shares of Reddit in a research report on Wednesday, September 16th. UBS Group reiterated a “buy” rating on shares of Reddit in a research note on Friday, July 31st. Jefferies Financial Group set a $250.00 price target on Reddit in a research note on Friday, July 10th. Robert W. Baird set a $185.00 price objective on Reddit in a report on Friday, July 31st. Finally, Sanford C. Bernstein reaffirmed a “market perform” rating and set a $180.00 price target on shares of Reddit in a report on Friday, July 31st. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $219.29.

Insider Buying and Selling at Reddit

In other news, COO Jennifer L. Wong sold 60,000 shares of Reddit stock in a transaction on Monday, September 14th. The shares were sold at an average price of $162.33, for a total transaction of $9,739,800.00. Following the transaction, the chief operating officer owned 1,012,226 shares in the company, valued at $164,314,646.58. This trade represents a 5.60% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Steve Huffman sold 17,308 shares of the business’s stock in a transaction on Tuesday, September 29th. The shares were sold at an average price of $144.87, for a total transaction of $2,507,409.96. Following the sale, the chief executive officer directly owned 336,432 shares of the company’s stock, valued at approximately $48,738,903.84. The trade was a 4.89% decrease in their position. 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. Over the last ninety days, insiders sold 228,744 shares of company stock valued at $37,976,994. Insiders own 28.48% of the company’s stock.

Reddit Profile

Reddit, Inc operates a global online platform where users participate in communities organized around shared interests, topics and experiences. Registered users can submit posts, images, videos and links, while other users can comment, vote on content and engage in discussions. The platform comprises thousands of independently moderated communities, commonly known as subreddits.

Reddit generates revenue primarily through digital advertising and other commercial offerings for businesses.