Campbell Capital Management Inc. Buys 5,500 Shares of Reddit Inc. $RDDT

Campbell Capital Management Inc. lifted its stake in shares of Reddit Inc. (NYSE:RDDT) by 125.1% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 9,895 shares of the company’s stock after acquiring an additional 5,500 shares during the period. Campbell Capital Management Inc.’s holdings in Reddit were worth $2,275,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in RDDT. Raiffeisen Bank International AG bought a new stake in shares of Reddit during the 3rd quarter worth $25,000. GW&K Investment Management LLC bought a new stake in shares of Reddit during the 3rd quarter worth $30,000. Cornerstone Planning Group LLC lifted its holdings in shares of 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 acquiring an additional 135 shares during the last quarter. LOM Asset Management Ltd bought a new stake in shares of Reddit during the 4th quarter worth $33,000. Finally, Noble Wealth Management PBC bought a new stake in shares of Reddit during the 4th quarter worth $34,000.

Insider Activity

In other news, Director Sarah E. Farrell acquired 43,800 shares of the firm’s stock in a transaction on Tuesday, February 10th. The shares were purchased at an average price of $149.52 per share, for a total transaction of $6,548,976.00. Following the completion of the transaction, 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. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Christopher Brian Slowe sold 19,036 shares of the business’s stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $144.05, for a total transaction of $2,742,135.80. Following the transaction, the chief technology officer owned 185,057 shares in the company, valued at $26,657,460.85. This represents a 9.33% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have bought 61,000 shares of company stock worth $8,870,815 and have sold 312,441 shares worth $47,147,539. 34.25% of the stock is currently owned by company insiders.

Reddit Trading Down 5.6%

RDDT stock opened at $157.03 on Wednesday. The firm’s 50-day moving average price is $142.26 and its two-hundred day moving average price is $186.54. Reddit Inc. has a 12-month low of $94.89 and a 12-month high of $282.95. The stock has a market capitalization of $30.00 billion, a price-to-earnings ratio of 59.94, a PEG ratio of 1.21 and a beta of 2.40.

Reddit (NYSE:RDDT) last released its quarterly earnings data on Thursday, February 5th. The company reported $1.24 earnings per share (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 analysts’ expectations of $665.80 million. During the same quarter in the previous year, the company earned $0.36 earnings per share. The company’s revenue for the quarter was up 69.7% compared to the same quarter last year. Equities analysts predict that Reddit Inc. will post 4.02 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Wells Fargo & Company assumed coverage on shares of Reddit in a research report on Tuesday, April 7th. They issued an “equal weight” rating and a $149.00 target price on the stock. Guggenheim lifted their target price on shares of Reddit from $245.00 to $255.00 and gave the stock a “buy” rating in a research report on Friday, February 6th. Argus set a $300.00 target price on shares of Reddit in a research report on Friday, January 9th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $285.00 target price on shares of Reddit in a research report on Tuesday, January 20th. Finally, The Goldman Sachs Group decreased their target price on shares of Reddit from $206.00 to $180.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 14th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and eleven have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $236.07.

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.