Highland Capital Management LLC Takes $753,000 Position in Reddit Inc. $RDDT

Key Points

• Highland Capital Management LLC acquired a new position in Reddit Inc., purchasing 5,000 shares valued at approximately $753,000 in the second quarter.
• CEO Steve Ladd Huffman and COO Jennifer L. Wong sold significant portions of their shares, with Huffman selling 18,000 shares worth over $4 million and Wong selling 40,967 shares worth over $9 million.
• Reddit reported a 77.9% year-over-year revenue increase, with quarterly revenue of $499.63 million and earnings per share of $0.45, exceeding analyst estimates.

Highland Capital Management LLC acquired a new position in shares of Reddit Inc. (NYSE:RDDT - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 5,000 shares of the company's stock, valued at approximately $753,000.

Several other large investors have also bought and sold shares of RDDT. QRG Capital Management Inc. raised its stake in Reddit by 19.7% during the second quarter. QRG Capital Management Inc. now owns 4,203 shares of the company's stock worth $633,000 after acquiring an additional 693 shares in the last quarter. Fortis Capital Advisors LLC acquired a new stake in shares of Reddit in the 2nd quarter valued at approximately $367,000. J. Safra Sarasin Holding AG bought a new stake in shares of Reddit during the 2nd quarter valued at approximately $226,000. ASR Vermogensbeheer N.V. lifted its stake in Reddit by 312.1% in the 2nd quarter. ASR Vermogensbeheer N.V. now owns 7,488 shares of the company's stock valued at $1,127,000 after purchasing an additional 5,671 shares during the last quarter. Finally, Platinum Investment Management Ltd. boosted its position in Reddit by 4.3% in the second quarter. Platinum Investment Management Ltd. now owns 2,322 shares of the company's stock valued at $350,000 after buying an additional 95 shares in the last quarter.

Insider Activity

In other news, CEO Steve Ladd Huffman sold 18,000 shares of Reddit stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $223.41, for a total value of $4,021,380.00. Following the completion of the transaction, the chief executive officer directly owned 494,104 shares of the company's stock, valued at approximately $110,387,774.64. This trade represents a 3.51% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Jennifer L. Wong sold 40,967 shares of the business's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $220.38, for a total value of $9,028,307.46. Following the completion of the transaction, the chief operating officer directly owned 120,033 shares in the company, valued at $26,452,872.54. This represents a 25.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 397,834 shares of company stock worth $86,512,599 over the last ninety days. Corporate insiders own 34.25% of the company's stock.

Reddit Trading Up 3.1%

NYSE RDDT opened at $207.24 on Monday. The firm has a market capitalization of $38.79 billion, a PE ratio of 188.40, a price-to-earnings-growth ratio of 3.26 and a beta of 2.23. The business's 50-day moving average price is $224.76 and its two-hundred day moving average price is $156.89. Reddit Inc. has a 12 month low of $68.80 and a 12 month high of $282.95.

Reddit (NYSE:RDDT - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The company reported $0.45 EPS for the quarter, topping analysts' consensus estimates of $0.20 by $0.25. Reddit had a return on equity of 9.93% and a net margin of 12.97%.The company had revenue of $499.63 million for the quarter, compared to analyst estimates of $424.07 million. During the same period in the previous year, the firm earned ($0.06) earnings per share. The firm's quarterly revenue was up 77.9% on a year-over-year basis. Reddit has set its Q3 2025 guidance at EPS. As a group, analysts forecast that Reddit Inc. will post 1.12 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Roth Capital boosted their target price on shares of Reddit from $130.00 to $145.00 and gave the stock a "neutral" rating in a research note on Monday, July 21st. JPMorgan Chase & Co. boosted their price objective on Reddit from $145.00 to $190.00 and gave the stock a "neutral" rating in a research report on Friday, August 1st. Royal Bank Of Canada reiterated a "sector perform" rating on shares of Reddit in a research report on Wednesday. Wells Fargo & Company lifted their price target on Reddit from $115.00 to $118.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 1st. Finally, Jefferies Financial Group upped their price objective on Reddit from $230.00 to $300.00 and gave the company a "buy" rating in a research note on Wednesday, September 10th. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $201.58.

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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