Vinva Investment Management Ltd Has $2.05 Million Holdings in Reddit Inc. $RDDT

Vinva Investment Management Ltd lifted its position in shares of Reddit Inc. (NYSE:RDDT) by 75.6% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,459 shares of the company’s stock after purchasing an additional 3,641 shares during the quarter. Vinva Investment Management Ltd’s holdings in Reddit were worth $2,047,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Raiffeisen Bank International AG acquired a new position in Reddit during the third quarter worth $25,000. GW&K Investment Management LLC bought a new stake in shares of Reddit during the third quarter worth about $30,000. Cornerstone Planning Group LLC increased its position in shares of Reddit by 13,500.0% during the third quarter. Cornerstone Planning Group LLC now owns 136 shares of the company’s stock worth $31,000 after acquiring an additional 135 shares in the last quarter. Geneos Wealth Management Inc. raised its holdings in shares of Reddit by 344.6% in the 1st 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 last quarter. Finally, GAMMA Investing LLC lifted its position in Reddit by 8,650.0% in the 3rd 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.

Analyst Upgrades and Downgrades

A number of brokerages have commented on RDDT. Wall Street Zen lowered Reddit from a “buy” rating to a “hold” rating in a report on Saturday. Morgan Stanley set a $240.00 price target on Reddit in a report on Friday, February 6th. Jefferies Financial Group raised their price objective on Reddit from $300.00 to $325.00 and gave the company a “buy” rating in a research note on Thursday, December 11th. Argus set a $300.00 target price on shares of Reddit in a research note on Friday, January 9th. Finally, Roth Mkm increased their target price on shares of Reddit from $210.00 to $215.00 and gave the company a “neutral” rating in a report on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $238.78.

Reddit Price Performance

Shares of NYSE:RDDT opened at $138.82 on Tuesday. Reddit Inc. has a 1 year low of $79.75 and a 1 year high of $282.95. The company has a market capitalization of $26.52 billion, a PE ratio of 52.98, a price-to-earnings-growth ratio of 1.01 and a beta of 2.41. The business has a fifty day moving average price of $185.60 and a two-hundred day moving average price of $207.22.

Reddit (NYSE:RDDT) last released its 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 for 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 business’s revenue for the quarter was up 69.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.36 EPS. Sell-side analysts anticipate that Reddit Inc. will post 1.12 earnings per share for the current year.

Insiders Place Their Bets

In other Reddit news, COO Jennifer L. Wong sold 30,777 shares of the business’s stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $143.42, for a total value of $4,414,037.34. Following the transaction, the chief operating officer directly owned 1,088,451 shares in the company, valued at $156,105,642.42. The trade was a 2.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Christopher Brian Slowe sold 19,036 shares of the stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $144.05, for a total transaction of $2,742,135.80. Following the transaction, the chief technology officer directly owned 185,057 shares of the company’s stock, valued at $26,657,460.85. This represents a 9.33% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 423,835 shares of company stock valued at $87,842,134. Company insiders own 34.25% of the company’s stock.

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.