Elwood Capital Partners LP Buys 10,000 Shares of Reddit Inc. $RDDT

Key Points

• Elwood Capital Partners LP increased its stake in Reddit Inc. by 40%, acquiring an additional 10,000 shares to bring its total holdings to 35,000 shares, valued at approximately $3.67 million.
• Analysts have set new price targets for Reddit, with the consensus now at $175.38, highlighting a range of ratings from Strong Buy to Sell.
• Insider transactions revealed significant stock sales by executives, including CFO Andrew Vollero and CEO Steve Ladd Huffman, who sold 30,000 and 124,409 shares respectively, indicating changes in their ownership stakes.

Elwood Capital Partners LP raised its stake in Reddit Inc. (NYSE:RDDT - Free Report) by 40.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 35,000 shares of the company's stock after buying an additional 10,000 shares during the quarter. Reddit accounts for about 3.1% of Elwood Capital Partners LP's portfolio, making the stock its 10th largest position. Elwood Capital Partners LP's holdings in Reddit were worth $3,672,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of RDDT. Signaturefd LLC raised its position in shares of Reddit by 3.5% during the first quarter. Signaturefd LLC now owns 2,859 shares of the company's stock worth $300,000 after purchasing an additional 97 shares during the period. CWM LLC raised its position in shares of 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 during the period. Morling Financial Advisors LLC raised its position in shares of Reddit by 3.8% during the first quarter. Morling Financial Advisors LLC now owns 5,487 shares of the company's stock worth $576,000 after purchasing an additional 202 shares during the period. Wedbush Securities Inc. raised its position in shares of Reddit by 10.3% during the first quarter. Wedbush Securities Inc. now owns 2,487 shares of the company's stock worth $261,000 after purchasing an additional 233 shares during the period. Finally, Fourth Dimension Wealth LLC acquired a new stake in shares of Reddit during the fourth quarter worth about $49,000.

Analysts Set New Price Targets

RDDT has been the topic of a number of research analyst reports. Bank of America raised their price target on Reddit from $130.00 to $150.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 30th. Piper Sandler raised their price target on Reddit from $150.00 to $210.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Wall Street Zen raised Reddit from a "hold" rating to a "buy" rating in a research report on Saturday, June 14th. Sanford C. Bernstein lifted their target price on Reddit from $130.00 to $150.00 and gave the company a "market perform" rating in a research report on Tuesday, July 22nd. Finally, Needham & Company LLC lifted their target price on Reddit from $165.00 to $215.00 and gave the company a "buy" rating in a research report on Friday, August 1st. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Reddit currently has an average rating of "Moderate Buy" and a consensus target price of $175.38.

Insider Buying and Selling

In other Reddit news, CFO Andrew Vollero sold 30,000 shares of the business's stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $117.64, for a total transaction of $3,529,200.00. Following the transaction, the chief financial officer owned 333,806 shares of the company's stock, valued at $39,268,937.84. The trade was a 8.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Steve Ladd Huffman sold 124,409 shares of the business's stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $124.45, for a total value of $15,482,700.05. Following the transaction, the chief executive officer directly owned 546,133 shares in the company, valued at $67,966,251.85. This trade represents a 18.55% decrease in their position. The disclosure for this sale can be found here. Insiders sold 411,004 shares of company stock worth $64,005,737 over the last 90 days. Company insiders own 34.25% of the company's stock.

Reddit Stock Performance

Shares of Reddit stock opened at $217.2850 on Friday. The business's 50 day simple moving average is $169.82 and its 200 day simple moving average is $142.17. Reddit Inc. has a 52-week low of $55.02 and a 52-week high of $253.14. The firm has a market cap of $40.67 billion, a PE ratio of 197.53, a P/E/G ratio of 3.47 and a beta of 2.30.

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 the consensus estimate of $0.20 by $0.25. The firm had revenue of $499.63 million for the quarter, compared to analyst estimates of $424.07 million. Reddit had a return on equity of 9.93% and a net margin of 12.97%.The business's quarterly revenue was up 77.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.06) EPS. Reddit has set its Q3 2025 guidance at EPS. As a group, equities research analysts predict that Reddit Inc. will post 1.12 EPS for the current year.

Reddit Profile

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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