47,384 Shares in Reddit Inc. $RDDT Bought by Square Peg Capital PTY Ltd.
Square Peg Capital PTY Ltd. acquired a new position in shares of Reddit Inc. (NYSE:RDDT - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 47,384 shares of the company's stock, valued at approximately $10,892,000. Reddit accounts for about 10.9% of Square Peg Capital PTY Ltd.'s holdings, making the stock its 6th biggest holding. Several other institutional investors and hedge funds also recently bought and sold shares of RDDT. NewEdge Advisors LLC boosted its stake in Reddit by 143.3% during the first quarter. NewEdge Advisors LLC now owns 7,982 shares of the company's stock worth $837,000 after buying an additional 4,701 shares during the period. Empowered Funds LLC purchased a new stake in Reddit in the first quarter worth about $213,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Reddit by 106.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 216,960 shares of the company's stock worth $22,759,000 after acquiring an additional 111,780 shares during the period. Focus Partners Wealth lifted its stake in Reddit by 40.8% in the first quarter. Focus Partners Wealth now owns 10,224 shares of the company's stock worth $1,073,000 after acquiring an additional 2,965 shares during the period. Finally, Geneos Wealth Management Inc. lifted its position in shares of Reddit by 344.6% during the first quarter. Geneos Wealth Management Inc. now owns 369 shares of the company's stock valued at $39,000 after buying an additional 286 shares during the last quarter. Analysts Set New Price TargetsRDDT has been the subject of several analyst reports. Raymond James Financial set a $180.00 price target on shares of Reddit and gave the company a "market perform" rating in a research report on Friday, May 1st. Rothschild & Co Redburn set a $110.00 price target on shares of Reddit in a report on Monday, April 27th. Jefferies Financial Group cut their price target on shares of Reddit from $285.00 to $250.00 and set a "buy" rating on the stock in a report on Tuesday, March 10th. Wall Street Zen cut shares of Reddit from a "buy" rating to a "hold" rating in a research note on Sunday, May 10th. Finally, The Goldman Sachs Group reaffirmed a "neutral" rating and set a $200.00 price objective on shares of Reddit in a research note on Friday, May 1st. Eighteen research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $230.75.Get Our Latest Research Report on RedditReddit Stock PerformanceShares of RDDT stock opened at $162.11 on Friday. The stock's fifty day moving average is $157.38 and its two-hundred day moving average is $176.88. The firm has a market capitalization of $31.21 billion, a P/E ratio of 46.32 and a beta of 1.91. Reddit Inc. has a fifty-two week low of $112.30 and a fifty-two week high of $282.95. Reddit (NYSE:RDDT - Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The company reported $1.01 earnings per share for the quarter, beating analysts' consensus estimates of $0.62 by $0.39. Reddit had a return on equity of 25.48% and a net margin of 28.60%.The company had revenue of $663.41 million for the quarter, compared to analyst estimates of $607.74 million. During the same quarter last year, the firm posted $0.13 EPS. The firm's revenue for the quarter was up 69.1% on a year-over-year basis. On average, equities analysts forecast that Reddit Inc. will post 4.83 earnings per share for the current year. Insider Transactions at RedditIn other news, COO Jennifer L. Wong sold 39,167 shares of Reddit stock in a transaction on Thursday, April 16th. The stock was sold at an average price of $161.47, for a total transaction of $6,324,295.49. Following the transaction, the chief operating officer owned 1,088,451 shares in the company, valued at $175,752,182.97. The trade was a 3.47% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Steve Ladd Huffman sold 18,000 shares of Reddit stock in a transaction on Friday, May 29th. The stock was sold at an average price of $174.13, for a total value of $3,134,340.00. Following the transaction, the chief executive officer owned 373,814 shares in the company, valued at approximately $65,092,231.82. This represents a 4.59% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 232,499 shares of company stock worth $36,123,803 in the last quarter. Company insiders own 28.48% of the company's stock. Reddit Company 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.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.Discover the 10 Best High-Yield Dividend Stocks for 2026 and secure reliable income in uncertain markets. Download the report now to identify top dividend payers and avoid common yield traps.Get This Free Report
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