FORA Capital LLC bought a new position in shares of Reddit Inc. (NYSE:RDDT - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm bought 55,911 shares of the company's stock, valued at approximately $5,865,000.
A number of other hedge funds have also made changes to their positions in RDDT. CWM LLC boosted its stake in shares of Reddit by 100.0% in the 1st quarter. CWM LLC now owns 256 shares of the company's stock valued at $27,000 after purchasing an additional 128 shares during the last quarter. Fourth Dimension Wealth LLC acquired a new stake in Reddit during the 4th quarter worth approximately $49,000. Chelsea Counsel Co. acquired a new stake in Reddit during the 4th quarter worth approximately $49,000. Stone House Investment Management LLC acquired a new stake in Reddit during the 1st quarter worth approximately $31,000. Finally, Quarry LP acquired a new stake in shares of Reddit in the fourth quarter valued at approximately $59,000.
Insider Buying and Selling
In other Reddit news, insider Benjamin Seong Lee sold 6,426 shares of the business's stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $220.28, for a total value of $1,415,519.28. Following the completion of the sale, the insider owned 83,445 shares in the company, valued at approximately $18,381,264.60. The trade was a 7.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Steve Ladd Huffman sold 14,000 shares of the business's stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $244.70, for a total value of $3,425,800.00. Following the transaction, the chief executive officer directly owned 531,485 shares in the company, valued at $130,054,379.50. This trade represents a 2.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 468,777 shares of company stock worth $78,225,996 over the last ninety days. Corporate insiders own 34.25% of the company's stock.
Analyst Upgrades and Downgrades
RDDT has been the subject of several analyst reports. B. Riley reissued a "buy" rating and issued a $220.00 target price (down from $222.00) on shares of Reddit in a research note on Friday, May 2nd. Raymond James Financial reaffirmed a "strong-buy" rating and set a $225.00 price objective (up previously from $175.00) on shares of Reddit in a research report on Friday, August 1st. JPMorgan Chase & Co. boosted their target price on Reddit from $145.00 to $190.00 and gave the stock a "neutral" rating in a research note on Friday, August 1st. Wolfe Research raised shares of Reddit to an "outperform" rating in a report on Sunday, August 3rd. Finally, Loop Capital lowered their price objective on Reddit from $210.00 to $200.00 and set a "buy" rating for the company in a research note on Thursday, June 12th. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $175.38.
View Our Latest Stock Analysis on RDDT
Reddit Price Performance
Shares of NYSE RDDT traded down $0.26 during mid-day trading on Friday, reaching $225.28. 3,918,539 shares of the company's stock were exchanged, compared to its average volume of 7,812,638. The firm has a market capitalization of $42.16 billion, a price-to-earnings ratio of 204.80, a price-to-earnings-growth ratio of 3.35 and a beta of 2.30. Reddit Inc. has a 52 week low of $55.25 and a 52 week high of $253.14. The firm has a 50-day moving average price of $176.49 and a two-hundred day moving average price of $142.10.
Reddit (NYSE:RDDT - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $499.63 million during 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 firm's revenue for the quarter was up 77.9% on a year-over-year basis. During the same quarter last year, the firm posted ($0.06) EPS. Reddit has set its Q3 2025 guidance at EPS. As a group, sell-side analysts forecast that Reddit Inc. will post 1.12 EPS for the current fiscal 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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