Apollon Wealth Management LLC Raises Stake in Reddit Inc. $RDDT

Key Points

• Apollon Wealth Management LLC increased its stake in Reddit Inc. by 41.3% during the second quarter, owning 5,350 shares valued at approximately $806,000 by the end of the reporting period.
• Numerous large investors have also significantly increased their positions in Reddit, with Rhumbline Advisers raising its stake by 202.7% and Farther Finance Advisors increasing theirs by 152.0%.
• Reddit's recent earnings report revealed an EPS of $0.45, surpassing analysts' expectations, and a revenue increase of 77.9% year-over-year, bringing in $499.63 million in revenue.

Apollon Wealth Management LLC boosted its holdings in shares of Reddit Inc. (NYSE:RDDT - Free Report) by 41.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,350 shares of the company's stock after acquiring an additional 1,565 shares during the period. Apollon Wealth Management LLC's holdings in Reddit were worth $806,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of RDDT. Rhumbline Advisers lifted its position in Reddit by 202.7% during the 1st quarter. Rhumbline Advisers now owns 13,682 shares of the company's stock valued at $1,435,000 after acquiring an additional 9,162 shares during the period. Farther Finance Advisors LLC lifted its position in Reddit by 152.0% during the 1st quarter. Farther Finance Advisors LLC now owns 620 shares of the company's stock valued at $68,000 after acquiring an additional 374 shares during the period. Janney Montgomery Scott LLC lifted its position in Reddit by 4.5% during the 1st quarter. Janney Montgomery Scott LLC now owns 9,183 shares of the company's stock valued at $963,000 after acquiring an additional 397 shares during the period. Sowell Financial Services LLC purchased a new position in Reddit in the first quarter worth about $739,000. Finally, QRG Capital Management Inc. purchased a new position in Reddit in the first quarter worth about $368,000.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Royal Bank Of Canada reaffirmed a "sector perform" rating on shares of Reddit in a report on Wednesday, October 1st. JMP Securities reaffirmed a "market outperform" rating and issued a $300.00 target price on shares of Reddit in a report on Friday, October 3rd. Zacks Research cut shares of Reddit from a "strong-buy" rating to a "hold" rating in a report on Tuesday, September 30th. Morgan Stanley lifted their target price on shares of Reddit from $170.00 to $230.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Finally, Citigroup reaffirmed an "outperform" rating on shares of Reddit in a report on Thursday, September 18th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $209.50.

Insider Buying and Selling at Reddit

In other Reddit news, CTO Christopher Brian Slowe sold 14,000 shares of the company's stock in a transaction that occurred on Wednesday, October 8th. The shares were sold at an average price of $200.81, for a total transaction of $2,811,340.00. Following the completion of the sale, the chief technology officer directly owned 206,534 shares of the company's stock, valued at approximately $41,474,092.54. This represents a 6.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Andrew Vollero sold 30,000 shares of the company's stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $218.09, for a total transaction of $6,542,700.00. Following the sale, the chief financial officer directly owned 284,168 shares of the company's stock, valued at approximately $61,974,199.12. This represents a 9.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 364,500 shares of company stock valued at $82,549,691 in the last ninety days. Corporate insiders own 34.25% of the company's stock.

Reddit Trading Up 2.2%

Shares of RDDT stock opened at $200.71 on Thursday. Reddit Inc. has a 12 month low of $73.59 and a 12 month high of $282.95. The stock has a market cap of $37.56 billion, a P/E ratio of 182.46, a P/E/G ratio of 3.00 and a beta of 2.23. The company has a 50 day simple moving average of $229.06 and a two-hundred day simple moving average of $161.07.

Reddit (NYSE:RDDT - Get Free Report) last announced its earnings results on Thursday, July 31st. The company reported $0.45 EPS for the quarter, beating analysts' consensus estimates of $0.20 by $0.25. Reddit had a net margin of 12.97% and a return on equity of 9.93%. The business 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 earned ($0.06) earnings per share. The firm's revenue was up 77.9% on a year-over-year basis. Reddit has set its Q3 2025 guidance at EPS. As a group, equities analysts forecast that Reddit Inc. will post 1.12 earnings per share for the current year.

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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