WINTON GROUP Ltd purchased a new stake in shares of Reddit, Inc. (NYSE:RDDT – Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 7,315 shares of the company’s stock, valued at approximately $467,000.
Several other institutional investors also recently bought and sold shares of the business. Inclusive Capital Partners L.P. acquired a new position in shares of Reddit during the 1st quarter valued at $103,051,000. Vanguard Group Inc. purchased a new stake in shares of Reddit in the first quarter worth about $82,167,000. Price T Rowe Associates Inc. MD acquired a new stake in shares of Reddit in the first quarter valued at about $37,015,000. Blackstone Inc. purchased a new stake in shares of Reddit during the 1st quarter valued at about $36,990,000. Finally, Sumitomo Mitsui Trust Holdings Inc. acquired a new position in Reddit during the 2nd quarter worth approximately $19,876,000.
Insider Activity at Reddit
In other Reddit news, insider Benjamin Seong Lee sold 45,807 shares of the stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $53.99, for a total transaction of $2,473,119.93. Following the completion of the transaction, the insider now directly owns 194,473 shares of the company’s stock, valued at approximately $10,499,597.27. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, insider Benjamin Seong Lee sold 45,807 shares of the company’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $53.99, for a total value of $2,473,119.93. Following the completion of the sale, the insider now owns 194,473 shares in the company, valued at $10,499,597.27. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Steve Ladd Huffman sold 6,714 shares of Reddit stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $59.84, for a total value of $401,765.76. Following the transaction, the chief executive officer now directly owns 658,352 shares in the company, valued at $39,395,783.68. The disclosure for this sale can be found here. Insiders have sold 204,373 shares of company stock worth $11,095,284 over the last quarter.
Analyst Upgrades and Downgrades
Reddit Stock Up 4.6 %
NYSE:RDDT opened at $61.89 on Wednesday. Reddit, Inc. has a 1 year low of $37.35 and a 1 year high of $78.08. The stock has a fifty day simple moving average of $59.86.
Reddit (NYSE:RDDT – Get Free Report) last announced its earnings results on Tuesday, August 6th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.25. The company had revenue of $281.20 million during the quarter, compared to the consensus estimate of $253.86 million. During the same quarter in the prior year, the company earned ($0.70) EPS. The business’s quarterly revenue was up 53.6% on a year-over-year basis. As a group, sell-side analysts predict that Reddit, Inc. will post -4.17 earnings per share for the current year.
About Reddit
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.
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