Farther Finance Advisors LLC Has $351,000 Stake in Reddit Inc. $RDDT

Key Points

• Farther Finance Advisors LLC significantly increased its stake in Reddit Inc. by 275.6% during the second quarter, bringing its total value to $351,000 as of the recent SEC filing.
• Insider trading activity has been notable, with CFO Andrew Vollero and COO Jennifer L. Wong selling 30,000 and 40,967 shares, respectively, leading to substantial decreases in their positions.
• Reddit Inc. reported strong quarterly earnings, with an EPS of $0.45, exceeding estimates and showing a 77.9% revenue increase year-over-year, alongside a market cap of $45.29 billion.

Farther Finance Advisors LLC raised its stake in Reddit Inc. (NYSE:RDDT - Free Report) by 275.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,329 shares of the company's stock after acquiring an additional 1,709 shares during the quarter. Farther Finance Advisors LLC's holdings in Reddit were worth $351,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. CWM LLC lifted its holdings in shares of Reddit by 100.0% in the first quarter. CWM LLC now owns 256 shares of the company's stock worth $27,000 after acquiring an additional 128 shares during the last quarter. Stone House Investment Management LLC bought a new position in shares of Reddit in the first quarter worth about $31,000. Geneos Wealth Management Inc. lifted its holdings in shares of Reddit by 344.6% in the first quarter. Geneos Wealth Management Inc. now owns 369 shares of the company's stock worth $39,000 after acquiring an additional 286 shares during the last quarter. Canton Hathaway LLC bought a new position in shares of Reddit in the first quarter worth about $43,000. Finally, Olde Wealth Management LLC bought a new position in shares of Reddit in the first quarter worth about $46,000.

Insider Activity

In other Reddit news, CFO Andrew Vollero sold 30,000 shares of the firm'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 completion of the transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Jennifer L. Wong sold 40,967 shares of the firm's stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $220.38, for a total transaction of $9,028,307.46. Following the transaction, the chief operating officer owned 120,033 shares of the company's stock, valued at approximately $26,452,872.54. The trade was a 25.45% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 379,834 shares of company stock worth $82,388,799 in the last 90 days. 34.25% of the stock is owned by company insiders.

Reddit Stock Performance

Reddit stock opened at $241.98 on Tuesday. Reddit Inc. has a 52-week low of $64.51 and a 52-week high of $282.95. The firm has a 50 day moving average price of $219.74 and a two-hundred day moving average price of $154.18. The firm has a market cap of $45.29 billion, a price-to-earnings ratio of 219.98, a PEG ratio of 3.78 and a beta of 2.38.

Reddit (NYSE:RDDT - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.25. Reddit had a net margin of 12.97% and a return on equity of 9.93%. The firm had revenue of $499.63 million during the quarter, compared to analyst estimates of $424.07 million. During the same quarter last year, the business earned ($0.06) EPS. The company's revenue was up 77.9% compared to the same quarter last year. 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 fiscal year.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Loop Capital dropped their target price on shares of Reddit from $210.00 to $200.00 and set a "buy" rating for the company in a report on Thursday, June 12th. Royal Bank Of Canada reissued a "sector perform" rating and issued a $210.00 target price on shares of Reddit in a report on Friday, August 22nd. JPMorgan Chase & Co. raised their price objective on shares of Reddit from $145.00 to $190.00 and gave the company a "neutral" rating in a report on Friday, August 1st. Wolfe Research upgraded shares of Reddit to an "outperform" rating in a report on Sunday, August 3rd. Finally, Wells Fargo & Company raised their price objective on shares of Reddit from $115.00 to $118.00 and gave the company an "equal weight" rating in a report on Tuesday, July 1st. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $201.58.

Reddit Company 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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