CTC Alternative Strategies Ltd. acquired a new position in shares of Reddit Inc. (NYSE:RDDT - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 2,400 shares of the company's stock, valued at approximately $252,000.
Other large investors also recently modified their holdings of the company. CWM LLC raised its holdings in Reddit by 100.0% during the first quarter. CWM LLC now owns 256 shares of the company's stock worth $27,000 after purchasing an additional 128 shares in the last quarter. Stone House Investment Management LLC acquired a new stake in Reddit in the 1st quarter worth approximately $31,000. Canton Hathaway LLC acquired a new position in Reddit in the 1st quarter valued at $43,000. Olde Wealth Management LLC bought a new position in shares of Reddit in the first quarter worth about $46,000. Finally, Fourth Dimension Wealth LLC acquired a new stake in Reddit in the 4th quarter valued at approximately $49,000.
Insider Activity
In other news, CTO Christopher Brian Slowe sold 10,000 shares of Reddit stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $220.25, for a total value of $2,202,500.00. Following the completion of the sale, the chief technology officer owned 212,534 shares in the company, valued at $46,810,613.50. The trade was a 4.49% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Andrew Vollero sold 30,000 shares of the stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $218.09, for a total value of $6,542,700.00. Following the completion of the transaction, the chief financial officer owned 284,168 shares in the company, 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. Over the last ninety days, insiders sold 516,777 shares of company stock worth $88,790,076. Company insiders own 34.25% of the company's stock.
Analyst Upgrades and Downgrades
A number of analysts have recently issued reports on the company. Jefferies Financial Group boosted their price objective on Reddit from $230.00 to $300.00 and gave the company a "buy" rating in a research report on Wednesday. Argus assumed coverage on shares of Reddit in a research note on Monday, August 18th. They issued a "buy" rating and a $250.00 target price on the stock. Morgan Stanley raised their price objective on shares of Reddit from $170.00 to $230.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Raymond James Financial reaffirmed a "strong-buy" rating and issued a $225.00 price target (up from $175.00) on shares of Reddit in a report on Friday, August 1st. Finally, Wolfe Research upgraded shares of Reddit to an "outperform" rating in a research report on Sunday, August 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $180.58.
Get Our Latest Stock Analysis on Reddit
Reddit Price Performance
RDDT stock traded up $18.84 during mid-day trading on Wednesday, reaching $259.04. The company had a trading volume of 7,429,388 shares, compared to its average volume of 5,908,406. Reddit Inc. has a 52 week low of $55.84 and a 52 week high of $261.13. The company has a market capitalization of $48.48 billion, a price-to-earnings ratio of 235.49, a PEG ratio of 3.81 and a beta of 2.40. The stock has a 50 day simple moving average of $192.30 and a two-hundred day simple moving average of $144.50.
Reddit (NYSE:RDDT - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The company reported $0.45 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.20 by $0.25. The company had revenue of $499.63 million during the quarter, compared to analysts' expectations of $424.07 million. Reddit had a return on equity of 9.93% and a net margin of 12.97%.The business's revenue was up 77.9% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.06) earnings per share. Reddit has set its Q3 2025 guidance at EPS. On average, equities analysts predict that Reddit Inc. will post 1.12 EPS for the current year.
About Reddit
(
Free Report)
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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