41,623 Shares in Reddit Inc. $RDDT Acquired by Rakuten Investment Management Inc.
Rakuten Investment Management Inc. acquired a new stake in shares of Reddit Inc. (NYSE:RDDT - Free Report) in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund acquired 41,623 shares of the company's stock, valued at approximately $9,573,000. Several other large investors have also made changes to their positions in the business. Financial Perspectives Inc acquired a new stake in Reddit during the 2nd quarter worth about $34,000. Geneos Wealth Management Inc. grew its holdings in Reddit by 344.6% during the first quarter. Geneos Wealth Management Inc. now owns 369 shares of the company's stock worth $39,000 after acquiring an additional 286 shares during the period. GAMMA Investing LLC raised its position in Reddit by 8,650.0% during the third quarter. GAMMA Investing LLC now owns 175 shares of the company's stock valued at $40,000 after acquiring an additional 173 shares in the last quarter. Advisors Asset Management Inc. lifted 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 acquiring an additional 148 shares during the period. Finally, E Fund Management Hong Kong Co. Ltd. purchased a new stake in Reddit in the 2nd quarter worth approximately $76,000. Reddit Stock Down 6.8%Shares of RDDT opened at $210.14 on Thursday. Reddit Inc. has a 52-week low of $79.75 and a 52-week high of $282.95. The stock has a fifty day simple moving average of $224.45 and a two-hundred day simple moving average of $212.07. The company has a market capitalization of $39.82 billion, a PE ratio of 120.77, a price-to-earnings-growth ratio of 1.51 and a beta of 2.17. Reddit (NYSE:RDDT - Get Free Report) last announced its quarterly earnings results on Thursday, October 30th. The company reported $0.80 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts' expectations of $546.65 million. During the same quarter in the previous year, the company posted $0.16 EPS. The company's revenue was up 67.9% compared to the same quarter last year. As a group, equities analysts anticipate that Reddit Inc. will post 1.12 earnings per share for the current fiscal year. Insiders Place Their BetsIn related news, insider Benjamin Seong Lee sold 3,320 shares of the business's stock in a transaction dated Friday, January 9th. The shares were sold at an average price of $260.22, for a total value of $863,930.40. Following the sale, the insider directly owned 62,608 shares in the company, valued at approximately $16,291,853.76. The trade was a 5.04% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Andrew Vollero sold 3,674 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the chief financial officer owned 251,644 shares in the company, valued at approximately $65,731,929.24. This represents a 1.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 470,344 shares of company stock valued at $102,553,177 over the last 90 days. Company insiders own 34.25% of the company's stock. Analysts Set New Price TargetsRDDT has been the subject of several analyst reports. Citigroup boosted their target price on shares of Reddit from $250.00 to $265.00 and gave the company a "buy" rating in a research note on Monday, November 3rd. Argus set a $300.00 target price on shares of Reddit in a research note on Friday, January 9th. Robert W. Baird raised their target price on Reddit from $177.00 to $240.00 and gave the company a "neutral" rating in a research report on Thursday, September 25th. Roth Mkm set a $210.00 price objective on shares of Reddit in a report on Friday, October 31st. Finally, Piper Sandler reiterated an "overweight" rating on shares of Reddit in a research report on Monday, December 1st. Two analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Reddit has a consensus rating of "Moderate Buy" and an average price target of $244.11.Read Our Latest Research Report on RDDTReddit 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.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. 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.Nuclear energy is entering a new growth cycle as rising power demand, expanding data centers, and renewed policy support bring the sector back into focus. After strong gains in recent years, the most impactful phase of nuclear investment may still be ahead.
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