1832 Asset Management L.P. Sells 501,713 Shares of Reddit Inc. $RDDT

Key Points

• 1832 Asset Management L.P. has reduced its holdings in Reddit Inc. by 72.8%, selling 501,713 shares and now owning approximately 0.10% of the company worth $19.67 million.
• Insider selling activity has occurred, with CTO Christopher Brian Slowe selling 10,000 shares and Benjamin Seong Lee selling 6,426 shares, collectively totaling over $3.6 million.
• Reddit reported a significant earnings beat in its last quarter with $0.45 EPS, surpassing estimates of $0.20, indicating a 77.9% year-over-year revenue growth.

1832 Asset Management L.P. lessened its position in shares of Reddit Inc. (NYSE:RDDT - Free Report) by 72.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 187,487 shares of the company's stock after selling 501,713 shares during the period. 1832 Asset Management L.P. owned approximately 0.10% of Reddit worth $19,667,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Signaturefd LLC lifted its holdings in shares of Reddit by 3.5% during the 1st quarter. Signaturefd LLC now owns 2,859 shares of the company's stock worth $300,000 after acquiring an additional 97 shares during the period. CWM LLC lifted its stake in Reddit by 100.0% in the 1st quarter. CWM LLC now owns 256 shares of the company's stock valued at $27,000 after purchasing an additional 128 shares during the last quarter. Morling Financial Advisors LLC lifted its stake in Reddit by 3.8% in the 1st quarter. Morling Financial Advisors LLC now owns 5,487 shares of the company's stock valued at $576,000 after purchasing an additional 202 shares during the last quarter. Wedbush Securities Inc. lifted its stake in Reddit by 10.3% in the 1st quarter. Wedbush Securities Inc. now owns 2,487 shares of the company's stock valued at $261,000 after purchasing an additional 233 shares during the last quarter. Finally, Fourth Dimension Wealth LLC bought a new position in Reddit in the 4th quarter valued at approximately $49,000.

Insider Activity at Reddit

In other news, CTO Christopher Brian Slowe sold 10,000 shares of the stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $220.25, for a total transaction of $2,202,500.00. Following the completion of the sale, the chief technology officer directly owned 212,534 shares in the company, valued at $46,810,613.50. This represents a 4.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Benjamin Seong Lee sold 6,426 shares of the stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $220.28, for a total transaction of $1,415,519.28. Following the sale, the insider owned 83,445 shares of the company's stock, valued at approximately $18,381,264.60. This trade represents a 7.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 411,004 shares of company stock valued at $64,005,737 over the last 90 days. 34.25% of the stock is owned by company insiders.

Reddit Stock Performance

Shares of NYSE RDDT opened at $217.2850 on Friday. Reddit Inc. has a 52-week low of $55.02 and a 52-week high of $253.14. The firm has a 50 day moving average price of $169.82 and a two-hundred day moving average price of $141.63. The stock has a market cap of $40.67 billion, a P/E ratio of 197.53, a price-to-earnings-growth ratio of 3.45 and a beta of 2.30.

Reddit (NYSE:RDDT - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.25. Reddit had a net margin of 12.97% and a return on equity of 9.93%. The firm had revenue of $499.63 million during the quarter, compared to analysts' expectations of $424.07 million. During the same period in the prior year, the company posted ($0.06) EPS. The company's revenue was up 77.9% on a year-over-year basis. Reddit has set its Q3 2025 guidance at EPS. Analysts predict that Reddit Inc. will post 1.12 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on RDDT shares. Raymond James Financial reissued a "strong-buy" rating and issued a $225.00 price objective (up previously from $175.00) on shares of Reddit in a research note on Friday, August 1st. Needham & Company LLC increased their price objective on shares of Reddit from $165.00 to $215.00 and gave the company a "buy" rating in a research note on Friday, August 1st. Seaport Res Ptn raised shares of Reddit from a "hold" rating to a "strong-buy" rating in a research note on Monday, May 5th. Roth Mkm increased their price objective on shares of Reddit from $120.00 to $130.00 and gave the company a "neutral" rating in a research note on Friday, May 2nd. Finally, Wells Fargo & Company increased their price objective on shares of Reddit from $115.00 to $118.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 1st. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $175.38.

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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