Universal Beteiligungs und Servicegesellschaft mbH Raises Stock Position in Reddit Inc. $RDDT

Universal Beteiligungs und Servicegesellschaft mbH increased its position in shares of Reddit Inc. (NYSE:RDDT) by 45.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 117,318 shares of the company’s stock after acquiring an additional 36,588 shares during the quarter. Universal Beteiligungs und Servicegesellschaft mbH owned about 0.06% of Reddit worth $26,988,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Huntington National Bank grew its holdings in Reddit by 25.6% in the third quarter. Huntington National Bank now owns 270 shares of the company’s stock worth $62,000 after purchasing an additional 55 shares during the last quarter. Institute for Wealth Management LLC. lifted its holdings in shares of Reddit by 6.1% during the 4th quarter. Institute for Wealth Management LLC. now owns 1,071 shares of the company’s stock valued at $246,000 after purchasing an additional 62 shares during the last quarter. Roxbury Financial LLC lifted its holdings in shares of Reddit by 7.4% during the 4th quarter. Roxbury Financial LLC now owns 929 shares of the company’s stock valued at $214,000 after purchasing an additional 64 shares during the last quarter. Kingswood Wealth Advisors LLC boosted its position in shares of Reddit by 5.0% in the 3rd quarter. Kingswood Wealth Advisors LLC now owns 1,439 shares of the company’s stock worth $331,000 after purchasing an additional 69 shares in the last quarter. Finally, IFP Advisors Inc boosted its position in shares of Reddit by 9.9% in the 3rd quarter. IFP Advisors Inc now owns 796 shares of the company’s stock worth $183,000 after purchasing an additional 72 shares in the last quarter.

Analysts Set New Price Targets

Several research analysts recently issued reports on RDDT shares. Truist Financial reduced their target price on Reddit from $275.00 to $260.00 and set a “buy” rating on the stock in a research report on Tuesday, April 7th. Wells Fargo & Company started coverage on Reddit in a report on Tuesday, April 7th. They issued an “equal weight” rating and a $149.00 price target for the company. Weiss Ratings restated a “hold (c-)” rating on shares of Reddit in a research note on Monday, December 29th. Cantor Fitzgerald cut their price objective on shares of Reddit from $240.00 to $170.00 and set a “neutral” rating on the stock in a report on Friday, February 6th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $205.00 price objective (down from $290.00) on shares of Reddit in a research report on Friday, February 6th. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and eleven 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 target price of $234.22.

Insider Buying and Selling at Reddit

In related news, COO Jennifer L. Wong sold 39,167 shares of the firm’s stock in a transaction on Thursday, April 16th. The shares were sold at an average price of $161.47, for a total transaction of $6,324,295.49. Following the completion of the transaction, the chief operating officer owned 1,088,451 shares of the company’s stock, valued at $175,752,182.97. This trade represents a 3.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, 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 the business’s stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $158.40, for a total transaction of $2,851,200.00. Following the transaction, the chief executive officer owned 411,195 shares of the company’s stock, valued at $65,133,288. This represents a 4.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have acquired 61,000 shares of company stock valued at $8,870,815 and have sold 298,441 shares valued at $44,170,999. Company insiders own 34.25% of the company’s stock.

Reddit Price Performance

NYSE RDDT opened at $152.61 on Friday. The company has a market cap of $29.16 billion, a price-to-earnings ratio of 58.25, a PEG ratio of 1.19 and a beta of 2.40. The stock’s fifty day moving average price is $143.19 and its 200 day moving average price is $186.15. Reddit Inc. has a 1 year low of $94.89 and a 1 year high of $282.95.

Reddit (NYSE:RDDT) last issued its quarterly earnings results on Thursday, February 5th. The company reported $1.24 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.28. The company had revenue of $725.61 million during the quarter, compared to analysts’ expectations of $665.80 million. Reddit had a return on equity of 20.89% and a net margin of 24.05%.The firm’s revenue was up 69.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.36 EPS. Research analysts expect that Reddit Inc. will post 4.02 earnings per share for the current year.

Reddit Company Profile

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.