Kingswood Wealth Advisors LLC Takes Position in Reddit Inc. $RDDT

Key Points

• Kingswood Wealth Advisors LLC acquired 1,370 shares of Reddit Inc. valued at approximately $206,000 during the second quarter.
• Several institutional investors, including Alliancebernstein L.P. and Vanguard Group Inc., significantly increased their stakes in Reddit, with Alliancebernstein boosting its stake by 103.0%.
• CEO Steve Ladd Huffman and CTO Christopher Brian Slowe sold significant portions of their holdings, with Huffman selling 18,000 shares for a total of $4,021,380.

Kingswood Wealth Advisors LLC acquired a new stake in shares of Reddit Inc. (NYSE:RDDT - Free Report) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 1,370 shares of the company's stock, valued at approximately $206,000.

A number of other institutional investors and hedge funds have also modified their holdings of RDDT. Alliancebernstein L.P. boosted its stake in Reddit by 103.0% in the 1st quarter. Alliancebernstein L.P. now owns 5,659,990 shares of the company's stock valued at $593,733,000 after buying an additional 2,871,232 shares in the last quarter. Vanguard Group Inc. boosted its stake in Reddit by 11.1% in the 1st quarter. Vanguard Group Inc. now owns 10,198,552 shares of the company's stock valued at $1,069,828,000 after buying an additional 1,017,162 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Reddit by 98.2% in the first quarter. JPMorgan Chase & Co. now owns 1,907,495 shares of the company's stock worth $200,096,000 after purchasing an additional 944,847 shares in the last quarter. Scge Management L.P. boosted its stake in Reddit by 121.1% in the first quarter. Scge Management L.P. now owns 1,612,000 shares of the company's stock worth $169,099,000 after purchasing an additional 883,000 shares in the last quarter. Finally, Baillie Gifford & Co. acquired a new position in shares of Reddit during the first quarter valued at $78,675,000.

Insider Buying and Selling

In other Reddit news, CEO Steve Ladd Huffman sold 18,000 shares of the firm's stock in a transaction on Friday, August 29th. The stock was sold at an average price of $223.41, for a total transaction of $4,021,380.00. Following the transaction, the chief executive officer owned 494,104 shares in the company, valued at $110,387,774.64. This trade represents a 3.51% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Christopher Brian Slowe sold 28,000 shares of the firm's stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $218.94, for a total value of $6,130,320.00. Following the transaction, the chief technology officer owned 222,534 shares in the company, valued at approximately $48,721,593.96. This trade represents a 11.18% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 411,834 shares of company stock worth $89,323,939 in the last quarter. Insiders own 34.25% of the company's stock.

Reddit Trading Down 6.2%

Shares of NYSE RDDT opened at $198.67 on Friday. The firm has a market cap of $37.18 billion, a P/E ratio of 180.61, a price-to-earnings-growth ratio of 3.03 and a beta of 2.23. Reddit Inc. has a 1-year low of $69.74 and a 1-year high of $282.95. The business's 50 day moving average is $229.29 and its 200-day moving average is $159.53.

Reddit (NYSE:RDDT - Get Free Report) last announced its earnings results on Thursday, July 31st. The company reported $0.45 earnings per share 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 quarter last year, the company earned ($0.06) earnings per share. The firm's quarterly revenue was up 77.9% compared to the same quarter last year. Reddit has set its Q3 2025 guidance at EPS. Analysts forecast that Reddit Inc. will post 1.12 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms recently commented on RDDT. Raymond James Financial reiterated a "strong-buy" rating and issued a $225.00 price objective (up previously from $175.00) on shares of Reddit in a report on Friday, August 1st. Weiss Ratings restated a "hold (c-)" rating on shares of Reddit in a report on Wednesday. Wolfe Research upgraded Reddit to an "outperform" rating in a report on Sunday, August 3rd. Robert W. Baird increased their price objective on Reddit from $177.00 to $240.00 and gave the stock a "neutral" rating in a report on Thursday, September 25th. Finally, Bank of America raised their price objective on Reddit from $130.00 to $150.00 and gave the company 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 issued a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $203.92.

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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