Universal Beteiligungs und Servicegesellschaft mbH Invests $12.72 Million in Reddit Inc. (NYSE:RDDT)

Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Reddit Inc. (NYSE:RDDT - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 121,251 shares of the company's stock, valued at approximately $12,719,000. Universal Beteiligungs und Servicegesellschaft mbH owned 0.07% of Reddit at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. Y Intercept Hong Kong Ltd purchased a new stake in Reddit during the 1st quarter worth about $4,157,000. IFP Advisors Inc boosted its position in shares of Reddit by 89.5% during the 1st quarter. IFP Advisors Inc now owns 870 shares of the company's stock worth $91,000 after acquiring an additional 411 shares in the last quarter. Morse Asset Management Inc acquired a new position in shares of Reddit during the 1st quarter worth about $63,000. Csenge Advisory Group acquired a new position in shares of Reddit during the 1st quarter worth about $382,000. Finally, Private Advisor Group LLC boosted its position in shares of Reddit by 73.9% during the 1st quarter. Private Advisor Group LLC now owns 13,694 shares of the company's stock worth $1,437,000 after acquiring an additional 5,821 shares in the last quarter.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. B. Riley reaffirmed a "buy" rating and set a $220.00 price objective (down from $222.00) on shares of Reddit in a research report on Friday, May 2nd. Wells Fargo & Company upped their price objective on Reddit from $115.00 to $118.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 1st. Loop Capital lowered their price objective on Reddit from $210.00 to $200.00 and set a "buy" rating for the company in a research report on Thursday, June 12th. Royal Bank Of Canada set a $125.00 price objective on Reddit and gave the stock a "sector perform" rating in a research report on Wednesday, June 25th. Finally, Morgan Stanley reaffirmed an "overweight" rating and set a $170.00 price objective (up from $154.00) on shares of Reddit in a research report on Monday, July 21st. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $144.13.

Reddit Price Performance

Shares of RDDT stock traded up $1.60 during trading hours on Friday, reaching $149.73. 4,495,742 shares of the company's stock were exchanged, compared to its average volume of 6,198,616. The company has a market cap of $27.63 billion, a P/E ratio of 253.78, a price-to-earnings-growth ratio of 3.80 and a beta of 2.33. The company's 50 day moving average is $131.22 and its two-hundred day moving average is $138.99. Reddit Inc. has a 1 year low of $49.13 and a 1 year high of $230.41.

Reddit (NYSE:RDDT - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.11. Reddit had a return on equity of 5.69% and a net margin of 8.07%. The firm had revenue of $392.36 million during the quarter, compared to the consensus estimate of $370.55 million. During the same period last year, the business posted ($8.19) EPS. Reddit's quarterly revenue was up 61.5% on a year-over-year basis. As a group, analysts predict that Reddit Inc. will post 1.12 EPS for the current fiscal year.

Insider Transactions at Reddit

In related news, CTO Christopher Brian Slowe sold 26,000 shares of the firm's stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $98.43, for a total value of $2,559,180.00. Following the completion of the transaction, the chief technology officer directly owned 251,373 shares of the company's stock, valued at $24,742,644.39. This trade represents a 9.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Steve Ladd Huffman sold 124,409 shares of the stock in a transaction on Monday, June 16th. The shares were sold at an average price of $124.45, for a total value of $15,482,700.05. Following the sale, the chief executive officer owned 546,133 shares in the company, valued at approximately $67,966,251.85. This trade represents a 18.55% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 506,809 shares of company stock valued at $61,884,325. Company insiders own 34.25% of the company's stock.

Reddit 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.