KG&L Capital Management LLC Has $330,000 Stock Holdings in Reddit Inc. $RDDT

Key Points

• KG&L Capital Management LLC has reduced its investment in Reddit Inc. by 45.7%, now holding shares worth $330,000.
• Wall Street analysts have given Reddit a positive outlook, with multiple upgrades including a price target increase to $300 from Oppenheimer.
• Reddit reported strong financial performance in its last earnings release, with a quarterly revenue increase of 77.9% year-over-year and earnings per share of $0.45.

KG&L Capital Management LLC lowered its stake in Reddit Inc. (NYSE:RDDT - Free Report) by 45.7% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 2,191 shares of the company's stock after selling 1,843 shares during the period. KG&L Capital Management LLC's holdings in Reddit were worth $330,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Mackenzie Financial Corp bought a new stake in shares of Reddit during the fourth quarter worth approximately $316,000. Wealth Enhancement Advisory Services LLC acquired a new stake in Reddit during the 4th quarter worth approximately $2,208,000. California State Teachers Retirement System boosted its stake in Reddit by 126.6% in the 4th quarter. California State Teachers Retirement System now owns 48,380 shares of the company's stock valued at $7,907,000 after purchasing an additional 27,032 shares during the period. First Hawaiian Bank acquired a new position in Reddit in the 1st quarter valued at $818,000. Finally, Central Pacific Bank Trust Division bought a new position in Reddit during the 1st quarter worth $93,000.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on RDDT shares. Wall Street Zen raised shares of Reddit from a "hold" rating to a "buy" rating in a research report on Sunday, September 7th. Oppenheimer lifted their price objective on shares of Reddit from $215.00 to $300.00 and gave the stock an "outperform" rating in a research note on Tuesday, September 16th. Robert W. Baird increased their target price on shares of Reddit from $177.00 to $240.00 and gave the stock a "neutral" rating in a research report on Thursday. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $210.00 target price on shares of Reddit in a report on Friday, August 22nd. Finally, Piper Sandler boosted their price target on Reddit from $210.00 to $290.00 and gave the company an "overweight" rating in a research note on Thursday, September 18th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $201.58.

Reddit Trading Up 3.3%

NYSE RDDT opened at $240.37 on Monday. The firm's 50 day simple moving average is $217.83 and its 200 day simple moving average is $153.38. The firm has a market capitalization of $44.99 billion, a price-to-earnings ratio of 218.52, a P/E/G ratio of 3.78 and a beta of 2.38. Reddit Inc. has a 1 year low of $64.51 and a 1 year high of $282.95.

Reddit (NYSE:RDDT - Get Free Report) last released its earnings results 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 firm had revenue of $499.63 million during 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%.The company's quarterly revenue was up 77.9% on a year-over-year basis. During the same period in the prior year, the company earned ($0.06) earnings per share. Reddit has set its Q3 2025 guidance at EPS. On average, equities research analysts forecast that Reddit Inc. will post 1.12 earnings per share for the current year.

Insiders Place Their Bets

In other news, CAO Michelle Marie Reynolds sold 3,214 shares of the firm's stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $217.69, for a total value of $699,655.66. Following the sale, the chief accounting officer directly owned 28,088 shares in the company, valued at approximately $6,114,476.72. This trade represents a 10.27% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Steve Ladd Huffman sold 18,000 shares of Reddit stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $261.22, for a total transaction of $4,701,960.00. Following the sale, the chief executive officer directly owned 494,104 shares in the company, valued at $129,069,846.88. This trade represents a 3.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 379,834 shares of company stock valued at $82,388,799 over the last ninety days. 34.25% of the stock is owned by insiders.

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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