Reddit Inc. $RDDT Shares Sold by Rakuten Securities Inc.
Rakuten Securities Inc. reduced its holdings in shares of Reddit Inc. (NYSE:RDDT - Free Report) by 45.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,270 shares of the company's stock after selling 4,441 shares during the quarter. Rakuten Securities Inc.'s holdings in Reddit were worth $1,212,000 at the end of the most recent quarter. Other hedge funds and other institutional investors have also made changes to their positions in the company. Resona Asset Management Co. Ltd. increased its holdings in Reddit by 0.3% in the 2nd quarter. Resona Asset Management Co. Ltd. now owns 20,201 shares of the company's stock valued at $3,023,000 after purchasing an additional 65 shares in the last quarter. AdvisorNet Financial Inc lifted its stake in shares of Reddit by 2.8% during the third quarter. AdvisorNet Financial Inc now owns 2,464 shares of the company's stock worth $567,000 after purchasing an additional 66 shares in the last quarter. Kingswood Wealth Advisors LLC boosted its position in shares of Reddit by 5.0% in the third quarter. Kingswood Wealth Advisors LLC now owns 1,439 shares of the company's stock worth $331,000 after buying an additional 69 shares during the period. Congress Park Capital LLC grew its stake in shares of Reddit by 2.0% in the second quarter. Congress Park Capital LLC now owns 3,885 shares of the company's stock valued at $585,000 after buying an additional 76 shares in the last quarter. Finally, Bienville Capital Management LLC raised its holdings in shares of Reddit by 0.5% during the 2nd quarter. Bienville Capital Management LLC now owns 16,153 shares of the company's stock valued at $2,432,000 after buying an additional 76 shares during the period. Insider ActivityIn related news, CFO Andrew Vollero sold 3,674 shares of the firm's stock in a transaction on Tuesday, January 13th. The stock was sold at an average price of $261.21, for a total transaction of $959,685.54. Following the transaction, the chief financial officer directly owned 251,644 shares in the company, valued at $65,731,929.24. This trade represents a 1.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO Christopher Brian Slowe sold 14,000 shares of the business's stock in a transaction on Thursday, January 8th. The shares were sold at an average price of $253.88, for a total transaction of $3,554,320.00. Following the sale, the chief technology officer owned 169,694 shares of the company's stock, valued at approximately $43,081,912.72. The trade was a 7.62% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 505,470 shares of company stock valued at $109,018,861 over the last three months. Company insiders own 34.25% of the company's stock. Reddit Price PerformanceNYSE RDDT opened at $253.48 on Thursday. The company has a market capitalization of $48.03 billion, a price-to-earnings ratio of 145.68, a price-to-earnings-growth ratio of 1.74 and a beta of 2.17. Reddit Inc. has a 12 month low of $79.75 and a 12 month high of $282.95. The company's fifty day moving average price is $221.77 and its two-hundred day moving average price is $209.62. Reddit (NYSE:RDDT - Get Free Report) last issued its earnings results on Thursday, October 30th. The company reported $0.80 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.50 by $0.30. The business had revenue of $584.91 million for the quarter, compared to analyst estimates of $546.65 million. Reddit had a net margin of 18.33% and a return on equity of 14.94%. The company's revenue for the quarter was up 67.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.16 EPS. As a group, analysts anticipate that Reddit Inc. will post 1.12 EPS for the current year. Wall Street Analysts Forecast GrowthSeveral analysts have issued reports on the stock. Citigroup increased their price objective on shares of Reddit from $250.00 to $265.00 and gave the company a "buy" rating in a research report on Monday, November 3rd. Robert W. Baird upped their target price on shares of Reddit from $177.00 to $240.00 and gave the company a "neutral" rating in a research note on Thursday, September 25th. Wall Street Zen lowered shares of Reddit from a "buy" rating to a "hold" rating in a report on Saturday, January 10th. China Renaissance started coverage on shares of Reddit in a research note on Tuesday, December 9th. They set a "buy" rating and a $300.00 price target on the stock. Finally, Cannonball Research reiterated a "buy" rating on shares of Reddit in a report on Tuesday, September 23rd. Three analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $238.57.Get Our Latest Analysis on RedditReddit Profile (Free Report)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.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 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.Unlock the timeless value of gold with our exclusive 2026 Gold Forecasting Report. Explore why gold remains the ultimate investment for safeguarding wealth against inflation, economic shifts, and global uncertainties. Whether you're planning for future generations or seeking a reliable asset in turbulent times, this report is your essential guide to making informed decisions.Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
