Berkshire Capital Holdings Inc. Has $7.51 Million Stock Holdings in Reddit Inc. $RDDT

Key Points

• Berkshire Capital Holdings massively increased its Reddit stake by 326,400% in Q4, ending with 32,650 shares worth about $7.51 million. Reddit now makes up roughly 2.5% of the firm’s portfolio.
• Reddit insiders sold shares during the period, including CTO Christopher Brian Slowe and COO Jennifer L. Wong, with insiders selling 326,144 shares total in the last quarter. Corporate insiders still own 34.25% of the company.
• Reddit reported strong quarterly results, with EPS of $1.01 beating estimates and revenue rising 69.1% year over year to $663.41 million. Analysts currently rate the stock Moderate Buy with a consensus target price of $228.61.

Berkshire Capital Holdings Inc. increased its position in shares of Reddit Inc. (NYSE:RDDT - Free Report) by 326,400.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 32,650 shares of the company's stock after acquiring an additional 32,640 shares during the quarter. Reddit comprises about 2.5% of Berkshire Capital Holdings Inc.'s investment portfolio, making the stock its 16th largest position. Berkshire Capital Holdings Inc.'s holdings in Reddit were worth $7,505,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in RDDT. Huntington National Bank raised its position in shares of Reddit by 25.6% during 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 period. Institute for Wealth Management LLC. raised its position in Reddit by 6.1% in the 4th quarter. Institute for Wealth Management LLC. now owns 1,071 shares of the company's stock valued at $246,000 after buying an additional 62 shares during the last quarter. Roxbury Financial LLC raised its position in Reddit by 7.4% in the 4th quarter. Roxbury Financial LLC now owns 929 shares of the company's stock valued at $214,000 after buying an additional 64 shares during the last quarter. IFP Advisors Inc raised its position in Reddit by 9.9% in the 3rd quarter. IFP Advisors Inc now owns 796 shares of the company's stock valued at $183,000 after buying an additional 72 shares during the last quarter. Finally, Yousif Capital Management LLC raised its position in Reddit by 5.1% in the 4th quarter. Yousif Capital Management LLC now owns 1,554 shares of the company's stock valued at $350,000 after buying an additional 75 shares during the last quarter.

Insider Transactions at Reddit

In related news, CTO Christopher Brian Slowe sold 19,036 shares of the business's stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $144.05, for a total transaction of $2,742,135.80. Following the sale, the chief technology officer owned 185,057 shares in the company, valued at $26,657,460.85. The trade was a 9.33% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Jennifer L. Wong sold 39,167 shares of the company's stock in a transaction dated Thursday, April 16th. The shares were sold at an average price of $161.47, for a total value of $6,324,295.49. Following the completion of the sale, the chief operating officer owned 1,088,451 shares in the company, valued at $175,752,182.97. This trade represents a 3.47% decrease in their position. 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. In the last quarter, insiders sold 326,144 shares of company stock valued at $48,788,412. Corporate insiders own 34.25% of the company's stock.

Reddit Price Performance

Shares of NYSE RDDT opened at $141.87 on Friday. The stock has a market capitalization of $27.31 billion, a PE ratio of 40.53 and a beta of 1.85. The business has a fifty day moving average price of $147.67 and a two-hundred day moving average price of $179.50. Reddit Inc. has a fifty-two week low of $95.23 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 the consensus estimate of $0.62 by $0.39. Reddit had a return on equity of 25.48% and a net margin of 28.60%.The firm had revenue of $663.41 million during the quarter, compared to analysts' expectations of $607.74 million. During the same period in the previous year, the firm earned $0.13 EPS. The company's quarterly revenue was up 69.1% compared to the same quarter last year. On average, equities analysts expect that Reddit Inc. will post 4.83 EPS for the current year.

Analyst Ratings Changes

RDDT has been the subject of a number of analyst reports. Guggenheim raised their price target on Reddit from $245.00 to $255.00 and gave the company a "buy" rating in a research note on Friday, February 6th. Evercore reiterated an "outperform" rating and set a $290.00 target price on shares of Reddit in a research note on Friday, February 6th. Bank of America reduced their target price on Reddit from $205.00 to $175.00 and set a "neutral" rating for the company in a research note on Thursday, April 2nd. Jefferies Financial Group reduced their target price on Reddit from $285.00 to $250.00 and set a "buy" rating for the company in a research note on Tuesday, March 10th. Finally, Roth Mkm lifted their target price on Reddit from $210.00 to $215.00 and gave the stock a "neutral" rating in a research note on Friday, January 30th. 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 $228.61.

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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