Fortis Capital Advisors LLC Takes Position in Reddit Inc. $RDDT

Key Points

• Fortis Capital Advisors LLC has acquired a new stake in Reddit Inc. by purchasing 2,436 shares valued at approximately $367,000 during the second quarter.
• Insider activity at Reddit includes significant sales, with CTO Christopher Brian Slowe selling 14,000 shares for over $3.6 million, reflecting a 6.29% decrease in his ownership.
• Reddit's stock is currently trading at around $207.24, with a market cap of $38.79 billion and projected earnings per share (EPS) of 1.12 for the fiscal year.

Fortis Capital Advisors LLC purchased a new stake in shares of Reddit Inc. (NYSE:RDDT - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 2,436 shares of the company's stock, valued at approximately $367,000.

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

Insider Buying and Selling at Reddit

In other news, CTO Christopher Brian Slowe sold 14,000 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 transaction of $3,601,920.00. Following the transaction, the chief technology officer directly owned 208,534 shares of the company's stock, valued at $53,651,627.52. The trade was a 6.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Michelle Marie Reynolds sold 3,214 shares of Reddit stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $217.69, for a total value of $699,655.66. Following the transaction, the chief accounting officer directly owned 28,088 shares in the company, valued at approximately $6,114,476.72. The trade was a 10.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 397,834 shares of company stock worth $86,512,599. 34.25% of the stock is owned by corporate insiders.

Reddit Stock Up 3.1%

Reddit stock opened at $207.24 on Friday. The business has a 50-day simple moving average of $224.76 and a two-hundred day simple moving average of $156.56. The company has a market cap of $38.79 billion, a P/E ratio of 188.40, a P/E/G ratio of 3.26 and a beta of 2.23. Reddit Inc. has a 52-week low of $68.80 and a 52-week high of $282.95.

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, beating analysts' consensus estimates of $0.20 by $0.25. The business had revenue of $499.63 million during 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%.The business's quarterly revenue was up 77.9% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.06) EPS. Reddit has set its Q3 2025 guidance at EPS. Research analysts anticipate that Reddit Inc. will post 1.12 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Citigroup restated an "outperform" rating on shares of Reddit in a report on Thursday, September 18th. Roth Capital increased their price objective on Reddit from $130.00 to $145.00 and gave the company a "neutral" rating in a research report on Monday, July 21st. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $212.00 price objective on shares of Reddit in a research report on Friday, August 1st. Royal Bank Of Canada reaffirmed a "sector perform" rating on shares of Reddit in a research report on Wednesday. Finally, 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, September 25th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Reddit presently has a consensus rating of "Moderate Buy" and a consensus target price of $201.58.

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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