GF Fund Management CO. LTD. Acquires Shares of 46,954 Reddit, Inc. (NYSE:RDDT)

GF Fund Management CO. 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 46,954 shares of the company's stock, valued at approximately $7,674,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Fourth Dimension Wealth LLC purchased a new position in Reddit during the fourth quarter worth $49,000. Gordian Capital Singapore Pte Ltd bought a new stake in shares of Reddit during the fourth quarter worth $149,000. Arrowpoint Investment Partners Singapore Pte. Ltd. bought a new stake in shares of Reddit during the fourth quarter worth $1,954,000. PharVision Advisers LLC bought a new stake in shares of Reddit during the fourth quarter worth $248,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Reddit by 154.5% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 105,180 shares of the company's stock worth $17,191,000 after purchasing an additional 63,857 shares during the last quarter.

Reddit Stock Up 3.7%

Shares of NYSE RDDT traded up $3.75 during midday trading on Tuesday, reaching $104.51. 6,920,835 shares of the stock were exchanged, compared to its average volume of 6,073,926. The firm has a market cap of $19.28 billion, a price-to-earnings ratio of -13.52, a PEG ratio of 4.72 and a beta of 2.90. Reddit, Inc. has a twelve month low of $49.13 and a twelve month high of $230.41. The firm has a 50-day simple moving average of $107.10 and a two-hundred day simple moving average of $145.05.

Reddit (NYSE:RDDT - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The company reported $0.13 EPS for the quarter, topping analysts' consensus estimates of $0.02 by $0.11. The business had revenue of $392.36 million for the quarter, compared to analysts' expectations of $370.55 million. Reddit had a negative net margin of 37.25% and a negative return on equity of 24.71%. The business's revenue was up 61.5% on a year-over-year basis. During the same quarter last year, the company earned ($8.19) EPS. Research analysts expect that Reddit, Inc. will post 1.12 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Oppenheimer assumed coverage on Reddit in a research report on Wednesday, April 16th. They set an "outperform" rating and a $125.00 target price for the company. Seaport Res Ptn upgraded Reddit from a "hold" rating to a "strong-buy" rating in a research report on Monday, May 5th. Morgan Stanley decreased their price objective on Reddit from $210.00 to $140.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. Roth Capital reaffirmed a "neutral" rating on shares of Reddit in a research note on Friday, May 2nd. Finally, Truist Financial began coverage on shares of Reddit in a research note on Monday, April 7th. They issued a "buy" rating and a $150.00 price objective for the company. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $140.45.

Insider Transactions at Reddit

In other Reddit news, Director David C. Habiger bought 774 shares of the firm's stock in a transaction dated Wednesday, March 12th. The shares were purchased at an average price of $130.36 per share, for a total transaction of $100,898.64. Following the transaction, the director now directly owns 30,808 shares of the company's stock, valued at approximately $4,016,130.88. This represents a 2.58% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Michelle Marie Reynolds sold 2,729 shares of the stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $98.85, for a total value of $269,761.65. Following the transaction, the chief accounting officer now owns 42,277 shares in the company, valued at $4,179,081.45. This trade represents a 6.06% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 782,139 shares of company stock valued at $93,843,152 in the last 90 days.

Reddit Company Profile

Reddit, Inc operates a website that organizes digital communities. It organizes communities based on specific interests that enable users to engage in conversations by sharing experiences, submitting links, uploading images and videos, and replying to one another. The company was founded in 2005 and is headquartered in San Francisco, California.