Reddit Inc. $RDDT Shares Purchased by Farther Finance Advisors LLC

Key Points

• Farther Finance Advisors increased its stake in Reddit by 103.3% during Q4, owning 12,957 shares after adding 6,585 shares, valued at about $2.98 million.
• Reddit beat expectations for the quarter with $1.24 EPS versus a $0.96 consensus and revenue of $725.61 million (up 69.7% year-over-year), alongside a 24.05% net margin and 20.89% ROE.
• Insiders have been net sellers: CEO Steve Huffman sold 18,000 shares and CTO Christopher Slowe sold 15,500 (both via 10b5-1 plans), with insiders selling 312,441 shares and buying 61,000 over the last 90 days; insiders still hold 34.25% of the company.

Farther Finance Advisors LLC increased its position in shares of Reddit Inc. (NYSE:RDDT - Free Report) by 103.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 12,957 shares of the company's stock after acquiring an additional 6,585 shares during the quarter. Farther Finance Advisors LLC's holdings in Reddit were worth $2,978,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Raiffeisen Bank International AG purchased a new position in Reddit during the third quarter worth approximately $25,000. GW&K Investment Management LLC purchased a new stake in Reddit during the 3rd quarter worth $30,000. Cornerstone Planning Group LLC increased its stake in Reddit by 13,500.0% during the 3rd quarter. Cornerstone Planning Group LLC now owns 136 shares of the company's stock worth $31,000 after buying an additional 135 shares during the period. LOM Asset Management Ltd purchased a new stake in Reddit during the 4th quarter worth $33,000. Finally, Noble Wealth Management PBC bought a new stake in shares of Reddit in the 4th quarter worth about $34,000.

Reddit Price Performance

RDDT stock opened at $163.41 on Friday. The company's 50 day simple moving average is $141.63 and its 200-day simple moving average is $187.25. Reddit Inc. has a 52-week low of $90.78 and a 52-week high of $282.95. The firm has a market capitalization of $31.22 billion, a P/E ratio of 62.37, a P/E/G ratio of 1.18 and a beta of 2.40.

Reddit (NYSE:RDDT - Get Free Report) last announced its quarterly earnings data on Thursday, February 5th. The company reported $1.24 EPS for the quarter, beating analysts' consensus estimates of $0.96 by $0.28. Reddit had a net margin of 24.05% and a return on equity of 20.89%. The firm had revenue of $725.61 million for the quarter, compared to the consensus estimate of $665.80 million. During the same period in the previous year, the firm posted $0.36 earnings per share. The firm's revenue was up 69.7% on a year-over-year basis. Sell-side analysts predict that Reddit Inc. will post 1.12 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on RDDT shares. Argus set a $300.00 target price on shares of Reddit in a research report on Friday, January 9th. Evercore reissued an "outperform" rating and set a $290.00 target price on shares of Reddit in a research note on Friday, February 6th. B. Riley Financial boosted their target price on shares of Reddit from $245.00 to $250.00 and gave the company a "buy" rating in a research note on Friday, February 6th. Piper Sandler reaffirmed an "overweight" rating and issued a $205.00 price target (down from $290.00) on shares of Reddit in a research note on Friday, February 6th. Finally, Guggenheim boosted their target price on shares of Reddit from $245.00 to $255.00 and gave the stock a "buy" rating in a report on Friday, February 6th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and eleven have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $237.46.

Insider Buying and Selling at Reddit

In other Reddit news, CEO Steve Ladd Huffman sold 18,000 shares of the business's stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $158.40, for a total value of $2,851,200.00. Following the completion of the sale, the chief executive officer directly owned 411,195 shares of the company's stock, valued at $65,133,288. The trade was a 4.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Christopher Brian Slowe sold 15,500 shares of the business's stock in a transaction that occurred on Wednesday, April 8th. The stock was sold at an average price of $150.67, for a total transaction of $2,335,385.00. Following the completion of the sale, the chief technology officer directly owned 38,413 shares of the company's stock, valued at $5,787,686.71. This represents a 28.75% decrease in their ownership of the stock. 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. Over the last ninety days, insiders purchased 61,000 shares of company stock valued at $8,870,815 and sold 312,441 shares valued at $49,664,410. Corporate insiders own 34.25% of the company's stock.

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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