GraniteShares Advisors LLC Makes New Investment in Reddit Inc. $RDDT

Key Points

• GraniteShares Advisors LLC has acquired a new stake in Reddit Inc. by purchasing 3,671 shares valued at approximately $553,000 during the second quarter.
• Several large investors have recently increased their positions in Reddit, including CWM LLC, which raised its stake by 100.0% in the first quarter.
• Analysts have set optimistic price targets for Reddit, with Jefferies Financial Group raising its target from $230.00 to $300.00, highlighting a strong buy sentiment among investment analysts.

GraniteShares Advisors LLC bought a new stake in shares of Reddit Inc. (NYSE:RDDT - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 3,671 shares of the company's stock, valued at approximately $553,000.

Several other large investors also recently made changes to their positions in RDDT. CWM LLC raised 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 acquiring an additional 128 shares in the last quarter. Stone House Investment Management LLC bought a new stake in Reddit during the first quarter worth approximately $31,000. Geneos Wealth Management Inc. grew its holdings in 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 purchasing an additional 286 shares during the last quarter. Western Pacific Wealth Management LP bought a new position in shares of Reddit in the second quarter valued at approximately $60,000. Finally, Canton Hathaway LLC acquired a new stake in shares of Reddit in the first quarter worth $43,000.

Analysts Set New Price Targets

A number of research firms recently issued reports on RDDT. Jefferies Financial Group raised their target price on shares of Reddit from $230.00 to $300.00 and gave the company a "buy" rating in a research note on Wednesday, September 10th. Argus initiated coverage on Reddit in a research report on Monday, August 18th. They issued a "buy" rating and a $250.00 price target on the stock. Oppenheimer boosted their price objective on Reddit from $215.00 to $300.00 and gave the stock an "outperform" rating in a research report on Tuesday, September 16th. Roth Capital increased their target price on Reddit from $130.00 to $145.00 and gave the company a "neutral" rating in a research note on Monday, July 21st. Finally, Bank of America lifted 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. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, Reddit has an average rating of "Moderate Buy" and a consensus price target of $201.58.

Reddit Stock Up 3.3%

Reddit stock opened at $240.37 on Monday. The business has a 50 day moving average price of $217.83 and a two-hundred day moving average price of $153.38. Reddit Inc. has a 12 month low of $64.51 and a 12 month high of $282.95. The stock has a market cap of $44.99 billion, a price-to-earnings ratio of 218.52, a price-to-earnings-growth ratio of 3.78 and a beta of 2.38.

Reddit (NYSE:RDDT - Get Free Report) last released its quarterly earnings data 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 for the quarter, compared to analysts' expectations of $424.07 million. Reddit had a return on equity of 9.93% and a net margin of 12.97%.Reddit's quarterly revenue was up 77.9% on a year-over-year basis. During the same period in the previous year, the business posted ($0.06) earnings per share. Reddit has set its Q3 2025 guidance at EPS. On average, analysts expect that Reddit Inc. will post 1.12 earnings per share for the current fiscal year.

Insider Buying and Selling at Reddit

In other Reddit news, CEO Steve Ladd Huffman sold 18,000 shares of the stock in a transaction on Monday, September 15th. The stock was sold at an average price of $261.22, for a total transaction of $4,701,960.00. Following the completion of the transaction, the chief executive officer directly owned 494,104 shares in the company, valued at $129,069,846.88. This represents a 3.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO Christopher Brian Slowe sold 14,000 shares of the company's 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 completion of the sale, the chief technology officer directly owned 208,534 shares in the company, valued at approximately $53,651,627.52. The trade was a 6.29% decrease in their position. The disclosure for this sale can be found here. Insiders sold 379,834 shares of company stock worth $82,388,799 in the last 90 days. 34.25% of the stock is currently owned by 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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