Vinva Investment Management Ltd Invests $689,000 in Reddit Inc. $RDDT
Vinva Investment Management Ltd bought a new stake in Reddit Inc. (NYSE:RDDT - Free Report) during the second quarter, according to its most recent disclosure with the SEC. The firm bought 4,818 shares of the company's stock, valued at approximately $689,000. Several other hedge funds and other institutional investors have also recently bought and sold shares of RDDT. CWM LLC grew its holdings in shares of Reddit by 100.0% during the first quarter. CWM LLC now owns 256 shares of the company's stock worth $27,000 after purchasing an additional 128 shares during the last quarter. Stone House Investment Management LLC acquired a new stake in shares of Reddit in the 1st quarter valued at about $31,000. Financial Perspectives Inc purchased a new position in Reddit during the 2nd quarter worth approximately $34,000. Geneos Wealth Management Inc. grew its stake in Reddit by 344.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 369 shares of the company's stock worth $39,000 after buying an additional 286 shares during the last quarter. Finally, Advisors Asset Management Inc. increased its position in Reddit by 68.2% during the second quarter. Advisors Asset Management Inc. now owns 365 shares of the company's stock worth $55,000 after buying an additional 148 shares during the period. Wall Street Analyst Weigh InA number of brokerages have recently issued reports on RDDT. Needham & Company LLC restated a "buy" rating and set a $300.00 target price on shares of Reddit in a research report on Friday, October 31st. Jefferies Financial Group increased their price target on shares of Reddit from $230.00 to $300.00 and gave the stock a "buy" rating in a research note on Wednesday, September 10th. Guggenheim lifted their price objective on shares of Reddit from $165.00 to $215.00 and gave the company a "buy" rating in a research note on Friday, August 1st. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $236.00 target price on shares of Reddit in a report on Tuesday, October 14th. Finally, Argus initiated coverage on Reddit in a report on Monday, August 18th. They set a "buy" rating and a $250.00 price target on the stock. Three analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $226.33.Get Our Latest Report on RDDTInsiders Place Their BetsIn other Reddit news, CEO Steve Ladd Huffman sold 18,000 shares of the business's stock in a transaction on Friday, November 14th. The shares were sold at an average price of $194.81, for a total transaction of $3,506,580.00. Following the sale, the chief executive officer directly owned 485,958 shares in the company, valued at approximately $94,669,477.98. The trade was a 3.57% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Michelle Marie Reynolds sold 3,215 shares of the company's stock in a transaction on Monday, November 24th. The stock was sold at an average price of $186.44, for a total transaction of $599,404.60. Following the transaction, the chief accounting officer directly owned 21,807 shares in the company, valued at approximately $4,065,697.08. This trade represents a 12.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 406,370 shares of company stock worth $85,827,004. Corporate insiders own 34.25% of the company's stock. Reddit Stock Up 4.5%Shares of Reddit stock opened at $216.90 on Friday. Reddit Inc. has a 52-week low of $79.75 and a 52-week high of $282.95. The company's 50-day simple moving average is $206.20 and its 200-day simple moving average is $182.54. The firm has a market cap of $41.10 billion, a price-to-earnings ratio of 124.66, a price-to-earnings-growth ratio of 2.29 and a beta of 2.14. Reddit (NYSE:RDDT - Get Free Report) last announced its quarterly earnings data on Thursday, October 30th. The company reported $0.80 EPS for the quarter, beating analysts' consensus estimates of $0.50 by $0.30. Reddit had a net margin of 18.33% and a return on equity of 14.94%. The firm had revenue of $584.91 million during the quarter, compared to the consensus estimate of $546.65 million. During the same quarter last year, the firm earned $0.16 earnings per share. The firm's revenue was up 67.9% compared to the same quarter last year. Reddit has set its Q4 2025 guidance at EPS. Equities research analysts anticipate that Reddit Inc. will post 1.12 EPS for the current year. Reddit Profile (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.Featured StoriesWant 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 reporting and unbiased coverage. 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.Wondering what the next stocks will be that hit it big, with solid fundamentals? Enter your email address to see which stocks MarketBeat analysts could become the next blockbuster growth stocks.Get This Free Report
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