Blackhawk Capital Partners LLC acquired a new stake in Reddit Inc. (NYSE:RDDT – Free Report) during the second quarter, HoldingsChannel reports. The fund acquired 10,716 shares of the company’s stock, valued at approximately $1,860,000.
Several other institutional investors also recently bought and sold shares of RDDT. Truist Financial Corp increased its stake in shares of Reddit by 67.7% during the fourth quarter. Truist Financial Corp now owns 15,659 shares of the company’s stock valued at $3,600,000 after buying an additional 6,321 shares during the period. Swiss Life Asset Management Ltd lifted its stake in Reddit by 63.2% in the fourth quarter. Swiss Life Asset Management Ltd now owns 32,003 shares of the company’s stock worth $7,357,000 after acquiring an additional 12,398 shares during the period. Calamos Advisors LLC bought a new stake in Reddit in the fourth quarter valued at $2,299,000. Handelsbanken Fonder AB boosted its holdings in Reddit by 22.9% in the fourth quarter. Handelsbanken Fonder AB now owns 37,000 shares of the company’s stock valued at $8,505,000 after acquiring an additional 6,900 shares in the last quarter. Finally, Berkshire Capital Holdings Inc. increased its position in Reddit by 326,400.0% during the 4th quarter. Berkshire Capital Holdings Inc. now owns 32,650 shares of the company’s stock valued at $7,505,000 after purchasing an additional 32,640 shares during the period.
Insider Activity at Reddit
In related news, COO Jennifer L. Wong sold 39,166 shares of the company’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $176.94, for a total value of $6,930,032.04. Following the transaction, the chief operating officer directly owned 1,050,339 shares of the company’s stock, valued at approximately $185,846,982.66. This represents a 3.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Michelle Marie Reynolds sold 808 shares of the stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $200.00, for a total value of $161,600.00. Following the sale, the chief accounting officer owned 15,060 shares in the company, valued at approximately $3,012,000. This represents a 5.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 169,141 shares of company stock valued at $28,464,485 over the last 90 days. Corporate insiders own 28.48% of the company’s stock.
Analyst Ratings Changes
Read Our Latest Stock Report on Reddit
Reddit Stock Performance
Shares of RDDT stock opened at $153.46 on Thursday. The company has a market capitalization of $29.53 billion, a price-to-earnings ratio of 35.69, a price-to-earnings-growth ratio of 0.52 and a beta of 2.03. Reddit Inc. has a one year low of $119.27 and a one year high of $282.95. The company’s 50-day moving average is $175.72 and its 200 day moving average is $160.12.
Reddit (NYSE:RDDT – Get Free Report) last issued its earnings results on Thursday, July 30th. The company reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.30. The business had revenue of $804.91 million during the quarter, compared to analysts’ expectations of $731.00 million. Reddit had a net margin of 31.35% and a return on equity of 29.02%. The business’s revenue for the quarter was up 61.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.45 earnings per share. As a group, research analysts predict that Reddit Inc. will post 5.22 earnings per share for the current fiscal year.
About Reddit
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.
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