Park Avenue Securities LLC Invests $229,000 in Reddit Inc. $RDDT

Key Points

• Park Avenue Securities LLC has invested approximately $229,000 in Reddit Inc. (NYSE: RDDT), acquiring 1,520 shares in the second quarter.
• Multiple hedge funds have increased their stakes in Reddit, with notable increases from Farther Finance Advisors LLC and Livforsakringsbolaget Skandia Omsesidigt, the latter raising holdings by 1,414.2%.
• Analysts are optimistic about Reddit's future, with several firms upgrading the stock to a "Buy" rating and raising their price targets, indicating a potential future value between $250.00 and $300.00.

Park Avenue Securities LLC acquired a new stake in Reddit Inc. (NYSE:RDDT - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 1,520 shares of the company's stock, valued at approximately $229,000.

Other hedge funds have also added to or reduced their stakes in the company. Congress Park Capital LLC grew its holdings in Reddit by 2.0% during the 2nd quarter. Congress Park Capital LLC now owns 3,885 shares of the company's stock worth $585,000 after acquiring an additional 76 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of Reddit by 275.6% during the second quarter. Farther Finance Advisors LLC now owns 2,329 shares of the company's stock worth $351,000 after purchasing an additional 1,709 shares during the period. Perpetual Ltd bought a new stake in shares of Reddit in the second quarter worth $50,473,000. Livforsakringsbolaget Skandia Omsesidigt increased its holdings in Reddit by 1,414.2% in the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 7,571 shares of the company's stock valued at $1,140,000 after purchasing an additional 7,071 shares during the period. Finally, IFM Investors Pty Ltd increased its holdings in Reddit by 7.3% in the second quarter. IFM Investors Pty Ltd now owns 13,473 shares of the company's stock valued at $2,029,000 after purchasing an additional 915 shares during the period.

Analysts Set New Price Targets

A number of equities research analysts have commented on RDDT shares. Wall Street Zen upgraded Reddit from a "hold" rating to a "buy" rating in a research report on Sunday, September 7th. Piper Sandler lifted their price objective on Reddit from $210.00 to $290.00 and gave the stock an "overweight" rating in a research note on Thursday, September 18th. JPMorgan Chase & Co. increased their target price on shares of Reddit from $145.00 to $190.00 and gave the company a "neutral" rating in a research report on Friday, August 1st. Needham & Company LLC raised their price target on shares of Reddit from $215.00 to $300.00 and gave the stock a "buy" rating in a report on Monday, September 15th. Finally, Argus assumed coverage on shares of Reddit in a research report on Monday, August 18th. They set a "buy" rating and a $250.00 price objective for the company. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $201.58.

Reddit Trading Down 11.8%

NYSE:RDDT opened at $202.77 on Thursday. Reddit Inc. has a 12 month low of $64.90 and a 12 month high of $282.95. The stock has a market capitalization of $37.95 billion, a price-to-earnings ratio of 184.33, a PEG ratio of 3.62 and a beta of 2.24. The firm has a fifty day simple moving average of $222.56 and a two-hundred day simple moving average of $155.04.

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, topping analysts' consensus estimates of $0.20 by $0.25. The company had revenue of $499.63 million for the quarter, compared to analysts' expectations of $424.07 million. Reddit had a net margin of 12.97% and a return on equity of 9.93%. The business's revenue was up 77.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.06) EPS. Reddit has set its Q3 2025 guidance at EPS. Equities analysts predict that Reddit Inc. will post 1.12 earnings per share for the current fiscal year.

Insider Transactions at Reddit

In other Reddit news, CTO Christopher Brian Slowe sold 28,000 shares of the stock in a transaction that occurred 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 represents a 11.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Steve Ladd Huffman sold 18,000 shares of the business's stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $223.41, for a total value of $4,021,380.00. Following the sale, the chief executive officer owned 494,104 shares of the company's stock, valued at approximately $110,387,774.64. This represents a 3.51% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 379,834 shares of company stock worth $82,388,799 in the last three months. Insiders own 34.25% of the company's stock.

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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