Militia Capital Partners LP Has $988,000 Stock Holdings in Reddit Inc. $RDDT

Militia Capital Partners LP decreased its holdings in shares of Reddit Inc. (NYSE:RDDT) by 50.0% in the 4th quarter, HoldingsChannel reports. The firm owned 4,300 shares of the company’s stock after selling 4,300 shares during the period. Militia Capital Partners LP’s holdings in Reddit were worth $988,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. Raiffeisen Bank International AG acquired a new stake in Reddit during the 3rd quarter valued at $25,000. GW&K Investment Management LLC acquired a new stake in Reddit during the 3rd quarter valued at $30,000. LOM Asset Management Ltd acquired a new stake in Reddit during the 4th quarter valued at $33,000. Noble Wealth Management PBC acquired a new stake in Reddit during the 4th quarter valued at $34,000. Finally, Geneos Wealth Management Inc. lifted its holdings in Reddit by 344.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 369 shares of the company’s stock valued at $39,000 after purchasing an additional 286 shares during the last quarter.

Reddit Stock Performance

RDDT opened at $175.66 on Wednesday. Reddit Inc. has a fifty-two week low of $119.27 and a fifty-two week high of $282.95. The company has a market capitalization of $33.82 billion, a P/E ratio of 50.19 and a beta of 1.91. The stock has a fifty day moving average of $159.09 and a 200-day moving average of $176.27.

Reddit (NYSE:RDDT) last posted its earnings results on Thursday, April 30th. The company reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.39. Reddit had a return on equity of 25.48% and a net margin of 28.60%.The company had revenue of $663.41 million during the quarter, compared to the consensus estimate of $607.74 million. During the same quarter last year, the firm earned $0.13 earnings per share. The company’s revenue was up 69.1% on a year-over-year basis. On average, equities research analysts predict that Reddit Inc. will post 4.83 earnings per share for the current fiscal year.

Insider Transactions at Reddit

In related news, COO Jennifer L. Wong sold 39,167 shares of the firm’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $158.52, for a total value of $6,208,752.84. Following the transaction, the chief operating officer owned 1,088,451 shares in the company, valued at approximately $172,541,252.52. This trade represents a 3.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Steve Ladd Huffman sold 18,000 shares of the firm’s stock in a transaction on Friday, May 29th. The stock was sold at an average price of $174.13, for a total value of $3,134,340.00. Following the completion of the transaction, the chief executive officer owned 373,814 shares in the company, valued at $65,092,231.82. The trade was a 4.59% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 193,334 shares of company stock valued at $30,507,093. 28.48% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on RDDT shares. Oppenheimer reaffirmed an “outperform” rating and set a $225.00 price target on shares of Reddit in a report on Friday, May 1st. Needham & Company LLC reaffirmed a “buy” rating and set a $300.00 price target on shares of Reddit in a report on Friday, May 1st. Cantor Fitzgerald lifted their target price on Reddit from $170.00 to $180.00 and gave the stock a “neutral” rating in a report on Friday, May 1st. Weiss Ratings reissued a “hold (c)” rating on shares of Reddit in a report on Friday, May 8th. Finally, DA Davidson reissued a “buy” rating and set a $200.00 target price on shares of Reddit in a report on Friday, May 1st. Eighteen research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $230.75.

Reddit 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.