Destiny Wealth Partners LLC Lowers Stock Holdings in Reddit Inc. $RDDT

Key Points

• Destiny Wealth Partners LLC reduced its stake in Reddit Inc. by 4.6%, now owning 38,972 shares valued at approximately $5.87 million.
• Reddit's shares opened at $233.26 with a market cap of $43.66 billion, showing a year-over-year revenue increase of 77.9%.
• Recent analyst ratings for Reddit show a consensus target price of $201.58, with varying ratings from "Strong Buy" to "Sell."

Destiny Wealth Partners LLC reduced its stake in Reddit Inc. (NYSE:RDDT - Free Report) by 4.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,972 shares of the company's stock after selling 1,884 shares during the period. Destiny Wealth Partners LLC's holdings in Reddit were worth $5,868,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Alliancebernstein L.P. increased its position in Reddit by 103.0% during the first quarter. Alliancebernstein L.P. now owns 5,659,990 shares of the company's stock worth $593,733,000 after buying an additional 2,871,232 shares during the period. Vanguard Group Inc. raised its stake in Reddit by 11.1% in the 1st quarter. Vanguard Group Inc. now owns 10,198,552 shares of the company's stock valued at $1,069,828,000 after purchasing an additional 1,017,162 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Reddit by 98.2% in the first quarter. JPMorgan Chase & Co. now owns 1,907,495 shares of the company's stock worth $200,096,000 after acquiring an additional 944,847 shares during the last quarter. Scge Management L.P. lifted its position in Reddit by 121.1% during the first quarter. Scge Management L.P. now owns 1,612,000 shares of the company's stock valued at $169,099,000 after buying an additional 883,000 shares in the last quarter. Finally, Baillie Gifford & Co. purchased a new stake in shares of Reddit during the first quarter valued at approximately $78,675,000.

Reddit Stock Down 1.0%

Shares of NYSE:RDDT opened at $233.26 on Friday. The firm has a market cap of $43.66 billion, a P/E ratio of 212.06, a P/E/G ratio of 3.71 and a beta of 2.40. Reddit Inc. has a 12-month low of $64.51 and a 12-month high of $282.95. The business has a fifty day simple moving average of $215.99 and a 200 day simple moving average of $152.20.

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

Analyst Ratings Changes

Several research analysts recently weighed in on RDDT shares. Loop Capital decreased their target price on Reddit from $210.00 to $200.00 and set a "buy" rating for the company in a research note on Thursday, June 12th. Robert W. Baird increased their price objective on Reddit from $177.00 to $240.00 and gave the company a "neutral" rating in a research report on Thursday. Bank of America increased their price objective on Reddit from $130.00 to $150.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 30th. Cannonball Research reaffirmed a "buy" rating on shares of Reddit in a research note on Tuesday. Finally, JMP Securities boosted their target price on Reddit from $225.00 to $300.00 and gave the stock a "market outperform" rating in a research report on Thursday, September 18th. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Reddit presently has an average rating of "Moderate Buy" and a consensus target price of $201.58.

Insider Activity at Reddit

In other news, CFO Andrew Vollero sold 30,000 shares of Reddit stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $218.09, for a total transaction of $6,542,700.00. Following the completion of the sale, the chief financial officer owned 284,168 shares in the company, valued at approximately $61,974,199.12. This trade represents a 9.55% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Jennifer L. Wong sold 30,741 shares of Reddit stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $257.28, for a total value of $7,909,044.48. Following the sale, the chief operating officer directly owned 1,295,968 shares of the company's stock, valued at approximately $333,426,647.04. This trade represents a 2.32% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 393,834 shares of company stock valued at $84,507,699 in the last ninety days. 34.25% of the stock is currently owned by corporate insiders.

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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