Handelsbanken Fonder AB Purchases 6,900 Shares of Reddit Inc. $RDDT

Handelsbanken Fonder AB boosted its position in Reddit Inc. (NYSE:RDDT) by 22.9% in the fourth quarter, HoldingsChannel reports. The firm owned 37,000 shares of the company’s stock after buying an additional 6,900 shares during the quarter. Handelsbanken Fonder AB’s holdings in Reddit were worth $8,505,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Huntington National Bank grew its position in Reddit by 25.6% in the 3rd quarter. Huntington National Bank now owns 270 shares of the company’s stock worth $62,000 after purchasing an additional 55 shares in the last quarter. Institute for Wealth Management LLC. grew its position in Reddit by 6.1% in the 4th quarter. Institute for Wealth Management LLC. now owns 1,071 shares of the company’s stock worth $246,000 after purchasing an additional 62 shares in the last quarter. Roxbury Financial LLC grew its position in Reddit by 7.4% in the 4th quarter. Roxbury Financial LLC now owns 929 shares of the company’s stock worth $214,000 after purchasing an additional 64 shares in the last quarter. IFP Advisors Inc boosted its stake in Reddit by 9.9% in the third quarter. IFP Advisors Inc now owns 796 shares of the company’s stock valued at $183,000 after acquiring an additional 72 shares during the last quarter. Finally, Yousif Capital Management LLC boosted its stake in Reddit by 5.1% in the fourth quarter. Yousif Capital Management LLC now owns 1,554 shares of the company’s stock valued at $350,000 after acquiring an additional 75 shares during the last quarter.

Analysts Set New Price Targets

RDDT has been the topic of a number of research analyst reports. Rothschild & Co Redburn set a $110.00 target price on shares of Reddit in a research note on Monday, April 27th. Citizens Jmp dropped their target price on shares of Reddit from $250.00 to $240.00 and set a “market outperform” rating on the stock in a research note on Friday, May 1st. Needham & Company LLC reiterated a “buy” rating and issued a $300.00 target price on shares of Reddit in a research note on Friday, May 1st. Wells Fargo & Company boosted their target price on shares of Reddit from $149.00 to $176.00 and gave the company an “equal weight” rating in a research note on Friday, May 1st. Finally, Guggenheim boosted their target price on shares of Reddit from $245.00 to $255.00 and gave the company a “buy” rating in a research note on Friday, February 6th. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and eleven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $228.61.

Reddit Trading Up 2.3%

Shares of RDDT stock opened at $150.16 on Friday. The stock has a market capitalization of $28.91 billion, a P/E ratio of 42.90 and a beta of 1.85. The firm’s 50 day moving average is $147.57 and its 200 day moving average is $179.77. Reddit Inc. has a 12 month low of $95.23 and a 12 month high of $282.95.

Reddit (NYSE:RDDT) last announced its quarterly earnings results on Thursday, April 30th. The company reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.39. The company had revenue of $663.41 million for the quarter, compared to analysts’ expectations of $607.74 million. Reddit had a net margin of 28.60% and a return on equity of 25.48%. Reddit’s revenue was up 69.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.13 EPS. On average, equities analysts predict that Reddit Inc. will post 4.83 EPS for the current year.

Key Headlines Impacting Reddit

Here are the key news stories impacting Reddit this week:

• Positive Sentiment: Analysts and commentators continue to highlight rapid revenue growth, strong margins, and improving monetization as reasons Reddit could have more upside over time. Article Title
• Positive Sentiment: Reddit’s ARPU jumped 44% in the latest quarter, supported by advertiser growth, AI ad tools, and international expansion, which suggests stronger monetization. Article Title
• Positive Sentiment: One bullish note says Reddit remains oversold after a steep decline and still offers attractive risk-reward given its user growth and strong gross margins. Article Title

Insider Activity at Reddit

In related news, CTO Christopher Brian Slowe sold 15,500 shares of the company’s stock in a transaction that occurred on Wednesday, April 8th. The shares were sold at an average price of $150.67, for a total transaction of $2,335,385.00. Following the sale, the chief technology officer directly owned 38,413 shares in the company, valued at approximately $5,787,686.71. This represents a 28.75% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Steve Ladd Huffman sold 18,000 shares of the company’s stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $157.15, for a total transaction of $2,828,700.00. Following the sale, the chief executive officer owned 411,195 shares in the company, valued at $64,619,294.25. The trade was a 4.19% 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. In the last ninety days, insiders have sold 326,144 shares of company stock worth $48,788,412. 34.25% of the stock is owned by corporate insiders.

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.