KBC Group NV Acquires 6,277 Shares of Reddit Inc. $RDDT

Key Points

• KBC Group NV increased its stake in Reddit by 63.8% in Q4, buying 6,277 shares to hold 16,121 shares worth about $3.705 million.
• Reddit beat Q4 expectations with EPS of $1.24 (vs. $0.96 expected) and revenue of $725.6M, up 69.7% year‑over‑year; analysts' consensus is a "Moderate Buy" with a $237.46 target.
• Insider activity was mixed: CEO Steve Huffman sold 18,000 shares while Director Sarah Farrell bought 43,800 shares, and corporate insiders collectively own about 34.25% of Reddit.

KBC Group NV grew its stake in shares of Reddit Inc. (NYSE:RDDT - Free Report) by 63.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,121 shares of the company's stock after acquiring an additional 6,277 shares during the period. KBC Group NV's holdings in Reddit were worth $3,705,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Resona Asset Management Co. Ltd. grew its holdings in Reddit by 53.2% during the 3rd quarter. Resona Asset Management Co. Ltd. now owns 30,944 shares of the company's stock valued at $7,166,000 after buying an additional 10,743 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Reddit by 12.9% in the third quarter. Vanguard Group Inc. now owns 12,238,508 shares of the company's stock worth $2,814,734,000 after buying an additional 1,401,293 shares in the last quarter. Optimize Financial Inc bought a new position in shares of Reddit in the third quarter valued at approximately $1,420,000. WT Asset Management Ltd bought a new position in shares of Reddit in the third quarter valued at approximately $92,973,000. Finally, Wealth Enhancement Advisory Services LLC grew its stake in Reddit by 95.4% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 16,139 shares of the company's stock valued at $3,712,000 after acquiring an additional 7,881 shares in the last quarter.

Analysts Set New Price Targets

A number of analysts recently weighed in on RDDT shares. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a $285.00 target price on shares of Reddit in a report on Tuesday, January 20th. Wells Fargo & Company began coverage on shares of Reddit in a report on Tuesday, April 7th. They issued an "equal weight" rating and a $149.00 price target for the company. Roth Mkm boosted their price target on shares of Reddit from $210.00 to $215.00 and gave the company a "neutral" rating in a research report on Friday, January 30th. The Goldman Sachs Group decreased their price target on shares of Reddit from $206.00 to $180.00 and set a "neutral" rating on the stock in a report on Tuesday, April 14th. Finally, Oppenheimer lowered their price objective on Reddit from $300.00 to $250.00 and set an "outperform" rating on the stock in a research report on Friday, February 6th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and eleven have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $237.46.

Reddit Price Performance

Shares of Reddit stock opened at $163.41 on Monday. Reddit Inc. has a 1 year low of $90.78 and a 1 year high of $282.95. The firm has a market cap of $31.22 billion, a PE ratio of 62.37, a PEG ratio of 1.19 and a beta of 2.40. The company has a 50 day simple moving average of $141.63 and a two-hundred day simple moving average of $187.14.

Reddit (NYSE:RDDT - Get Free Report) last released 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 business had revenue of $725.61 million during the quarter, compared to analysts' expectations of $665.80 million. Reddit had a net margin of 24.05% and a return on equity of 20.89%. The business's quarterly revenue was up 69.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.36 EPS. As a group, research analysts anticipate that Reddit Inc. will post 1.12 earnings per share for the current year.

Insider Activity at Reddit

In related news, CEO Steve Ladd Huffman sold 18,000 shares of the company's stock in a transaction on Friday, February 13th. The shares were sold at an average price of $138.81, for a total value of $2,498,580.00. Following the completion of the transaction, the chief executive officer directly owned 448,576 shares in the company, valued at approximately $62,266,834.56. The trade was a 3.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Sarah E. Farrell bought 43,800 shares of Reddit stock in a transaction that occurred on Tuesday, February 10th. The stock was purchased at an average cost of $149.52 per share, for a total transaction of $6,548,976.00. Following the purchase, the director owned 43,800 shares of the company's stock, valued at $6,548,976. The trade was a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders have purchased 61,000 shares of company stock valued at $8,870,815 and have sold 312,441 shares valued at $49,664,410. Corporate 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.

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