PDT Partners LLC Has $2.77 Million Stock Position in Reddit Inc. $RDDT

Key Points

• PDT Partners LLC increased its stake in Reddit Inc. by 14.3%, acquiring a total of 26,404 shares worth approximately $2.77 million.
• Reddit's stock reached a recent opening price of $225.28, showing significant performance with a 77.9% year-over-year revenue increase for its latest quarter.
• Insider sales were notable, with the CTO selling 28,000 shares for over $6 million, contributing to a total of 468,777 shares sold by insiders valued at approximately $78.2 million in the last quarter.

PDT Partners LLC lifted its holdings in shares of Reddit Inc. (NYSE:RDDT - Free Report) by 14.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 26,404 shares of the company's stock after acquiring an additional 3,304 shares during the quarter. PDT Partners LLC's holdings in Reddit were worth $2,770,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Signaturefd LLC boosted its stake in shares of Reddit by 3.5% during the 1st quarter. Signaturefd LLC now owns 2,859 shares of the company's stock worth $300,000 after acquiring an additional 97 shares during the period. CWM LLC boosted its stake in shares of Reddit by 100.0% during the 1st quarter. CWM LLC now owns 256 shares of the company's stock worth $27,000 after acquiring an additional 128 shares during the period. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Reddit by 12.5% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 1,323 shares of the company's stock worth $139,000 after acquiring an additional 147 shares during the period. Morling Financial Advisors LLC boosted its stake in shares of Reddit by 3.8% during the 1st quarter. Morling Financial Advisors LLC now owns 5,487 shares of the company's stock worth $576,000 after acquiring an additional 202 shares during the period. Finally, Wedbush Securities Inc. boosted its stake in shares of Reddit by 10.3% during the 1st quarter. Wedbush Securities Inc. now owns 2,487 shares of the company's stock worth $261,000 after acquiring an additional 233 shares during the period.

Reddit Trading Up 3.5%

NYSE RDDT traded up $8.08 during midday trading on Friday, hitting $240.19. The company had a trading volume of 5,551,228 shares, compared to its average volume of 5,904,451. The company has a market capitalization of $44.95 billion, a PE ratio of 218.35, a P/E/G ratio of 3.68 and a beta of 2.40. The firm has a 50-day moving average price of $186.96 and a 200-day moving average price of $143.13. Reddit Inc. has a twelve month low of $55.25 and a twelve month high of $253.14.

Reddit (NYSE:RDDT - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The company reported $0.45 earnings per share for the quarter, beating 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% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.06) EPS. Reddit has set its Q3 2025 guidance at EPS. On average, equities analysts anticipate that Reddit Inc. will post 1.12 EPS for the current year.

Insider Buying and Selling

In other news, CFO Andrew Vollero sold 30,000 shares of the business's stock in a transaction on Friday, June 13th. The stock was sold at an average price of $117.64, for a total transaction of $3,529,200.00. Following the completion of the transaction, the chief financial officer owned 333,806 shares of the company's stock, valued at approximately $39,268,937.84. The trade was a 8.25% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Jennifer L. Wong sold 40,967 shares of the business's stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $220.38, for a total value of $9,028,307.46. Following the transaction, the chief operating officer directly owned 120,033 shares of the company's stock, valued at $26,452,872.54. This trade represents a 25.45% decrease in their position. The disclosure for this sale can be found here. Insiders sold 516,777 shares of company stock valued at $88,790,076 over the last 90 days. 34.25% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

RDDT has been the subject of several research analyst reports. Needham & Company LLC lifted their target price on Reddit from $165.00 to $215.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. Roth Capital boosted their price target on Reddit from $130.00 to $145.00 and gave the company a "neutral" rating in a research note on Monday, July 21st. Morgan Stanley boosted their price target on Reddit from $170.00 to $230.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Argus assumed coverage on Reddit in a research note on Monday, August 18th. They issued a "buy" rating and a $250.00 price target for the company. Finally, The Goldman Sachs Group restated a "neutral" rating and issued a $212.00 price target on shares of Reddit in a research note on Friday, August 1st. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $175.38.

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.