DekaBank Deutsche Girozentrale Buys 7,500 Shares of Reddit Inc. (NYSE:RDDT)
DekaBank Deutsche Girozentrale grew its stake in Reddit Inc. (NYSE:RDDT - Free Report) by 5.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 149,300 shares of the company's stock after acquiring an additional 7,500 shares during the period. DekaBank Deutsche Girozentrale owned 0.08% of Reddit worth $15,662,000 at the end of the most recent quarter. Several other hedge funds also recently modified their holdings of RDDT. US Bancorp DE grew its holdings in shares of Reddit by 2,106.7% in the 4th quarter. US Bancorp DE now owns 2,648 shares of the company's stock valued at $433,000 after acquiring an additional 2,528 shares in the last quarter. Steward Partners Investment Advisory LLC grew its holdings in shares of Reddit by 29.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,086 shares of the company's stock valued at $177,000 after acquiring an additional 244 shares in the last quarter. Atria Investments Inc bought a new position in shares of Reddit in the 4th quarter valued at about $467,000. Proficio Capital Partners LLC grew its holdings in shares of Reddit by 2.1% in the 4th quarter. Proficio Capital Partners LLC now owns 5,908 shares of the company's stock valued at $966,000 after acquiring an additional 120 shares in the last quarter. Finally, Amundi grew its holdings in shares of Reddit by 13,601.9% in the 4th quarter. Amundi now owns 131,812 shares of the company's stock valued at $22,673,000 after acquiring an additional 130,850 shares in the last quarter. Wall Street Analyst Weigh InSeveral equities research analysts recently issued reports on the stock. Wells Fargo & Company raised their target price on shares of Reddit from $115.00 to $118.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 1st. Redburn Partners set a $75.00 target price on shares of Reddit in a research note on Monday, March 17th. Needham & Company LLC raised their target price on shares of Reddit from $135.00 to $145.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. Seaport Res Ptn upgraded shares of Reddit from a "hold" rating to a "strong-buy" rating in a research note on Monday, May 5th. Finally, The Goldman Sachs Group raised their target price on shares of Reddit from $124.00 to $140.00 and gave the company a "neutral" rating in a research note on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $141.04.View Our Latest Research Report on RDDTReddit Trading Down 2.0%NYSE RDDT opened at $142.72 on Friday. Reddit Inc. has a 1-year low of $49.13 and a 1-year high of $230.41. The company has a 50 day moving average of $123.77 and a 200-day moving average of $140.94. The company has a market cap of $26.33 billion, a price-to-earnings ratio of 241.90, a PEG ratio of 3.74 and a beta of 2.33. Reddit (NYSE:RDDT - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported $0.13 earnings per share for the quarter, beating analysts' consensus estimates of $0.02 by $0.11. Reddit had a net margin of 8.07% and a return on equity of 5.69%. The company had revenue of $392.36 million during the quarter, compared to the consensus estimate of $370.55 million. During the same period in the previous year, the business earned ($8.19) earnings per share. The firm's quarterly revenue was up 61.5% on a year-over-year basis. On average, equities research analysts forecast that Reddit Inc. will post 1.12 earnings per share for the current year. Insider Buying and SellingIn related news, CAO Michelle Marie Reynolds sold 3,500 shares of Reddit stock in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of $150.64, for a total value of $527,240.00. Following the transaction, the chief accounting officer directly owned 37,868 shares of the company's stock, valued at $5,704,435.52. This trade represents a 8.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Andrew Vollero sold 30,000 shares of Reddit stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $117.64, for a total transaction of $3,529,200.00. Following the completion of the transaction, the chief financial officer directly owned 333,806 shares in the company, valued at $39,268,937.84. This trade represents a 8.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 617,285 shares of company stock valued at $69,599,110 in the last quarter. Corporate insiders own 34.25% of the company's stock. About Reddit (Free Report)Reddit, Inc operates a website that organizes digital communities. It organizes communities based on specific interests that enable users to engage in conversations by sharing experiences, submitting links, uploading images and videos, and replying to one another. The company was founded in 2005 and is headquartered in San Francisco, California.See AlsoWant to see what other hedge funds are holding RDDT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Reddit Inc. (NYSE:RDDT - Free Report).This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.Before you consider Reddit, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Reddit wasn't on the list.While Reddit currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.Enter your email address and we'll send you MarketBeat's guide to investing in 5G and which 5G stocks show the most promise. Get This Free Report
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