Norges Bank has acquired a new stake in Reddit, Inc. valued at approximately $294.3 million, purchasing 1,954,269 shares, which represents about 1.04% of the company. Additionally, Mackenzie Financial Corp also initiated a new position with 241,615 shares valued at around $36.38 million. This news of institutional investment comes as company insiders, including CTO Christopher Slowe and COO Jennifer Wong, have recently sold shares totaling approximately $85.8 million. Despite the insider sales, they still retain a significant 34.25% ownership of the company. These transactions follow Reddit's strong third-quarter performance, where it surpassed analyst expectations for both earnings and revenue.