Corient Private Wealth LP Has $5.19 Million Stock Holdings in Reddit Inc. $RDDT

Key Points

• Corient Private Wealth LP increased its Reddit stake by 141.6% in the second quarter, owning 29,914 shares valued at approximately $5.19 million.
• Reddit reported quarterly EPS of $1.25 versus the $0.95 consensus estimate, while revenue rose 61% year over year to $804.91 million. Analysts’ average rating remains Moderate Buy, with an average price target near $219.
• Insiders have sold significant amounts of stock recently, including CEO Steve Huffman’s approximately $2.8 million sale; Reddit shares opened at $150.84, down 1.3%, and remain well below their 12-month high of $271.99.

Corient Private Wealth LP boosted its holdings in shares of Reddit Inc. (NYSE:RDDT - Free Report) by 141.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 29,914 shares of the company's stock after purchasing an additional 17,531 shares during the quarter. Corient Private Wealth LP's holdings in Reddit were worth $5,192,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Sunbelt Securities Inc. raised its position in shares of Reddit by 87.5% during the 1st quarter. Sunbelt Securities Inc. now owns 195 shares of the company's stock valued at $26,000 after acquiring an additional 91 shares during the last quarter. Ascentis Independent Advisors acquired a new position in shares of Reddit during the 1st quarter worth approximately $30,000. EverSource Wealth Advisors LLC grew its position in Reddit by 48.1% during the second quarter. EverSource Wealth Advisors LLC now owns 197 shares of the company's stock worth $34,000 after buying an additional 64 shares in the last quarter. Beacon Investment Advisory Services Inc. bought a new stake in Reddit during the second quarter worth about $35,000. Finally, V Square Quantitative Management LLC acquired a new position in shares of Reddit in the 1st quarter valued at approximately $43,000.

Wall Street Analysts Forecast Growth

RDDT has been the topic of a number of recent analyst reports. Wedbush decreased their target price on Reddit from $250.00 to $221.00 and set an "outperform" rating on the stock in a research report on Friday, July 31st. KeyCorp began coverage on Reddit in a report on Wednesday, July 29th. They issued an "overweight" rating and a $225.00 target price on the stock. Wall Street Zen cut shares of Reddit from a "buy" rating to a "hold" rating in a research report on Sunday, August 9th. Evercore reaffirmed an "outperform" rating and set a $265.00 price objective on shares of Reddit in a research note on Friday, July 31st. Finally, Sanford C. Bernstein reaffirmed a "market perform" rating and issued a $180.00 price objective on shares of Reddit in a research note on Friday, July 31st. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and twelve have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $219.29.

Insider Transactions at Reddit

In other Reddit news, Director Robert A. Sauerberg sold 5,128 shares of the company's stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $159.92, for a total transaction of $820,069.76. Following the transaction, the director directly owned 27,087 shares in the company, valued at $4,331,753.04. This represents a 15.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Steve Huffman sold 17,308 shares of the stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $160.11, for a total value of $2,771,183.88. Following the completion of the sale, the chief executive officer directly owned 336,432 shares in the company, valued at $53,866,127.52. This represents a 4.89% 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. Insiders have sold a total of 230,244 shares of company stock valued at $38,747,524 in the last 90 days. Corporate insiders own 28.48% of the company's stock.

Trending Headlines about Reddit

Here are the key news stories impacting Reddit this week:

• Positive Sentiment: A Yahoo Finance analysis argues that RDDT could be approximately 51% undervalued following its recent decline, supporting the view that the stock’s long-term growth potential is not fully reflected in its current valuation. Reddit could be 51% undervalued
• Positive Sentiment: Guggenheim maintained a Buy rating on Reddit, adding support to the bullish case. The broader analyst consensus remains Moderate Buy, with an average target price of $221.10. Guggenheim remains a Buy on Reddit
• Neutral Sentiment: BNP Paribas Exane initiated coverage with a Neutral rating and a $180 price target. The target implies meaningful upside from the referenced share price, but the neutral rating reflects caution about Reddit’s outlook and valuation. BNP Paribas Exane coverage
• Neutral Sentiment: Analyst opinions remain divided, with some firms emphasizing Reddit’s strong growth and others taking a more cautious stance. This disagreement can increase volatility and limit near-term investor conviction. Mixed analyst opinions on Reddit
• Negative Sentiment: Reddit insiders sold shares in several recent transactions. COO Jennifer Wong sold 60,000 shares for about $9.7 million, while CEO Steve Huffman sold 17,308 shares for approximately $2.8 million. Both sales were made under pre-arranged Rule 10b5-1 plans and the executives retained sizable holdings, but the transactions may still weigh on sentiment. Reddit insider sales

Reddit Trading Down 1.3%

Shares of Reddit stock opened at $150.84 on Friday. The firm's 50 day simple moving average is $163.00 and its two-hundred day simple moving average is $159.45. The firm has a market capitalization of $29.02 billion, a price-to-earnings ratio of 35.08, a PEG ratio of 0.71 and a beta of 2.02. Reddit Inc. has a 12-month low of $119.27 and a 12-month high of $271.99.

Reddit (NYSE:RDDT - Get Free Report) last released its earnings results on Thursday, July 30th. The company reported $1.25 EPS for the quarter, topping analysts' consensus estimates of $0.95 by $0.30. The firm had revenue of $804.91 million during the quarter, compared to the consensus estimate of $731.00 million. Reddit had a return on equity of 29.02% and a net margin of 31.35%.The company's revenue was up 61.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.45 earnings per share. On average, sell-side analysts predict that Reddit Inc. will post 5.27 EPS for the current fiscal year.

Reddit Profile

Reddit, Inc operates a global online platform where users participate in communities organized around shared interests, topics and discussions. Users can submit posts, links, images and videos, while community members can comment, vote and interact through publicly accessible forums known as subreddits.

The company generates revenue primarily through digital advertising and also offers premium memberships and other paid products. Reddit additionally provides data licensing and developer-related services that support the use of its platform content and technology.

Founded in 2005 by Steve Huffman, Alexis Ohanian and Aaron Swartz, Reddit serves users worldwide across a broad range of communities.

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