27,237 Shares in Reddit Inc. $RDDT Acquired by ProShare Advisors LLC

Key Points

• ProShare Advisors opened a position in Reddit, buying 27,237 shares during the third quarter, valued at approximately $3.88 million.
• Analyst opinions were mixed: Reddit had a consensus “Moderate Buy” rating and average price target of $180.91, while several firms lowered targets and two maintained neutral ratings.
• Reddit beat quarterly expectations, reporting EPS of $1.40 versus $1.33 expected and revenue up 53% year over year to about $895 million; the stock was reported down 7.9%.

ProShare Advisors LLC purchased a new position in Reddit Inc. (NYSE:RDDT - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 27,237 shares of the company's stock, valued at approximately $3,880,000.

Other institutional investors also recently modified their holdings of the company. Wellington Management Group LLP raised its holdings in shares of Reddit by 21.8% during the second quarter. Wellington Management Group LLP now owns 1,564,535 shares of the company's stock valued at $271,572,000 after acquiring an additional 280,030 shares during the period. State Street Corp lifted its position in shares of Reddit by 8.7% in the 2nd quarter. State Street Corp now owns 2,979,587 shares of the company's stock valued at $517,197,000 after acquiring an additional 237,523 shares in the last quarter. Moore Capital Management LP boosted its stake in Reddit by 611.4% in the 2nd quarter. Moore Capital Management LP now owns 12,577 shares of the company's stock worth $2,183,000 after purchasing an additional 10,809 shares during the period. Light Street Capital Management LLC acquired a new position in Reddit in the 2nd quarter worth approximately $31,678,000. Finally, PensionDanmark Pensionsforsikringsaktieselskab grew its position in Reddit by 102.3% during the 2nd quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 19,120 shares of the company's stock worth $3,319,000 after purchasing an additional 9,670 shares in the last quarter.

Analyst Ratings Changes

Several analysts have recently commented on RDDT shares. Roth Capital reaffirmed a "neutral" rating and issued a $145.00 target price on shares of Reddit in a research report on Monday, August 3rd. JPMorgan Chase & Co. dropped their price target on Reddit from $185.00 to $150.00 and set a "neutral" rating on the stock in a research report on Friday, October 30th. Telsey Advisory Group set a $240.00 price target on Reddit in a research report on Friday, July 31st. Wells Fargo & Company reduced their price objective on Reddit from $142.00 to $110.00 and set an "equal weight" rating for the company in a research note on Friday, October 30th. Finally, Needham & Company LLC decreased their price objective on Reddit from $300.00 to $150.00 and set a "buy" rating for the company in a research report on Friday, October 30th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and fifteen have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $180.91.

Reddit News Roundup

Here are the key news stories impacting Reddit this week:

• Positive Sentiment: KeyCorp raised its FY2026 EPS estimate to $5.41 from $4.90, close to the cited consensus estimate of $5.42. A separate analyst roundup also characterized sentiment toward Reddit as bullish. Analysts Are Bullish on These Communication Services Stocks
• Neutral Sentiment: Commentary described Reddit as recovering from concerns about AI search, while a report discussed broker forecasts for Q4 earnings; the supplied headlines did not provide details on the outlook or forecast changes. Reddit Stock Roars Back From AI Search Scare Brokers Issue Forecasts for Reddit's Q4 Earnings
• Negative Sentiment: KeyCorp cut its FY2028 EPS estimate to $7.06 from $8.73, pointing to reduced longer-term earnings expectations. Reddit analyst estimates
• Negative Sentiment: Reports said Loop Capital lowered its rating on Reddit and Evercore moved its rating to Hold, adding to pressure on investor sentiment. Loop Capital Lowers Reddit Rating Evercore Lowers Reddit to Hold
• Negative Sentiment: Director Mary Gale sold 3,000 shares for $288,000, reducing her stake by 14.16%, though she retained 18,181 shares. Insider sales can raise concerns but do not by themselves establish a negative outlook. SEC Form 4 filing
• Negative Sentiment: Block & Leviton announced an investigation into potential securities-law violations and invited investors who lost money to contact the firm. The announcement is an allegation/investigation, not a finding of wrongdoing. Block & Leviton Investigation Announcement

Insider Buying and Selling at Reddit

In other Reddit news, Director Mary Gale sold 3,000 shares of the business's stock in a transaction dated Tuesday, November 3rd. The stock was sold at an average price of $96.00, for a total value of $288,000.00. Following the completion of the sale, the director owned 18,181 shares of the company's stock, valued at $1,745,376. The trade was a 14.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Steve Huffman sold 18,000 shares of the company's stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $178.16, for a total value of $3,206,880.00. Following the sale, the chief executive officer owned 373,814 shares of the company's stock, valued at approximately $66,598,702.24. This trade represents a 4.59% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 291,052 shares of company stock valued at $47,166,483. Corporate insiders own 28.48% of the company's stock.

Reddit Trading Down 7.9%

RDDT opened at $93.85 on Friday. The stock has a fifty day moving average price of $145.55 and a 200 day moving average price of $157.31. Reddit Inc. has a 1 year low of $89.28 and a 1 year high of $263.50. The stock has a market cap of $18.06 billion, a price-to-earnings ratio of 20.79, a PEG ratio of 0.41 and a beta of 2.28.

Reddit (NYSE:RDDT - Get Free Report) last announced its quarterly earnings results on Thursday, October 29th. The company reported $1.40 EPS for the quarter, beating the consensus estimate of $1.33 by $0.07. The business had revenue of $894.96 million during the quarter, compared to analysts' expectations of $874.91 million. Reddit had a return on equity of 30.57% and a net margin of 32.10%. The firm's quarterly revenue was up 53.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.80 EPS. As a group, sell-side analysts forecast that Reddit Inc. will post 5.42 earnings per share for the current fiscal year.

Reddit Company Profile

Reddit, Inc operates a global online platform where users participate in communities organized around shared interests, topics and activities. Members can submit text posts, links, images and videos, as well as comment on and vote on content. The platform includes thousands of communities, commonly known as subreddits, covering subjects such as news, entertainment, technology, sports, finance and lifestyle.

Reddit generates revenue primarily through digital advertising, offering advertisers access to audiences based on community interests and user engagement.

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