50,000 Shares in Reddit Inc. $RDDT Purchased by Avenir Tech Ltd
Avenir Tech Ltd bought a new position in shares of Reddit Inc. (NYSE:RDDT - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 50,000 shares of the company's stock, valued at approximately $7,528,000. Reddit accounts for 0.6% of Avenir Tech Ltd's holdings, making the stock its 4th biggest holding. Other hedge funds and other institutional investors also recently modified their holdings of the company. Stone House Investment Management LLC acquired a new stake in shares of Reddit in the 1st quarter worth approximately $31,000. Financial Perspectives Inc purchased a new stake in Reddit during the second quarter worth $34,000. Geneos Wealth Management Inc. grew its holdings in Reddit by 344.6% in the first quarter. Geneos Wealth Management Inc. now owns 369 shares of the company's stock valued at $39,000 after purchasing an additional 286 shares during the last quarter. Advisors Asset Management Inc. grew its holdings in Reddit by 68.2% in the second quarter. Advisors Asset Management Inc. now owns 365 shares of the company's stock valued at $55,000 after purchasing an additional 148 shares during the last quarter. Finally, Western Pacific Wealth Management LP purchased a new position in shares of Reddit in the second quarter valued at $60,000. Reddit Stock Up 1.2%Shares of NYSE:RDDT opened at $236.93 on Tuesday. The company has a market cap of $44.90 billion, a P/E ratio of 136.16, a P/E/G ratio of 2.58 and a beta of 2.17. The business has a fifty day simple moving average of $204.50 and a 200-day simple moving average of $188.56. Reddit Inc. has a 52 week low of $79.75 and a 52 week high of $282.95. Reddit (NYSE:RDDT - Get Free Report) last issued its quarterly earnings results on Thursday, October 30th. The company reported $0.80 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.50 by $0.30. The firm had revenue of $584.91 million for the quarter, compared to analyst estimates of $546.65 million. Reddit had a return on equity of 14.94% and a net margin of 18.33%.The firm's quarterly revenue was up 67.9% on a year-over-year basis. During the same period last year, the company earned $0.16 EPS. Sell-side analysts expect that Reddit Inc. will post 1.12 earnings per share for the current fiscal year. Analysts Set New Price TargetsA number of equities research analysts recently commented on the stock. Oppenheimer increased their price objective on shares of Reddit from $215.00 to $300.00 and gave the company an "outperform" rating in a research note on Tuesday, September 16th. Raymond James Financial reaffirmed a "strong-buy" rating and issued a $250.00 price target (up previously from $225.00) on shares of Reddit in a report on Monday, October 20th. Wells Fargo & Company raised their price objective on shares of Reddit from $155.00 to $174.00 and gave the stock a "cautious" rating in a research note on Tuesday, October 7th. Truist Financial set a $270.00 price objective on Reddit in a research report on Friday, October 31st. Finally, Piper Sandler reiterated an "overweight" rating on shares of Reddit in a report on Monday, December 1st. Three investment 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 MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $226.33.View Our Latest Research Report on RDDTInsider Transactions at RedditIn other Reddit news, CTO Christopher Brian Slowe sold 24,000 shares of the stock in a transaction that occurred on Monday, November 24th. The shares were sold at an average price of $192.72, for a total transaction of $4,625,280.00. Following the transaction, the chief technology officer owned 175,694 shares of the company's stock, valued at $33,859,747.68. This trade represents a 12.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Jennifer L. Wong sold 63,427 shares of the business's stock in a transaction on Monday, November 24th. The shares were sold at an average price of $192.72, for a total transaction of $12,223,651.44. Following the sale, the chief operating officer directly owned 1,184,528 shares of the company's stock, valued at $228,282,236.16. This represents a 5.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 380,370 shares of company stock worth $79,846,584 in the last three months. Company insiders own 34.25% of the company's stock. Reddit Company 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.Recommended 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. 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