Prime Capital Investment Advisors LLC Makes New $333,000 Investment in Reddit Inc. $RDDT

Key Points

• Prime Capital Investment Advisors LLC has made a new investment in Reddit Inc., acquiring 2,212 shares valued at approximately $333,000 during the 2nd quarter.
• Reddit's stock price has seen fluctuations, currently priced at $198.67, with a market cap of $37.18 billion, following a 6.2% decline in its shares.
• Recent earnings reports indicate that Reddit beat EPS estimates by $0.25, reporting $0.45 EPS for the last quarter, alongside a year-over-year revenue increase of 77.9%.

Prime Capital Investment Advisors LLC acquired a new position in shares of Reddit Inc. (NYSE:RDDT - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 2,212 shares of the company's stock, valued at approximately $333,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of RDDT. Congress Park Capital LLC raised its position 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 buying an additional 76 shares during the last quarter. Platinum Investment Management Ltd. raised its position in Reddit by 4.3% during the 2nd quarter. Platinum Investment Management Ltd. now owns 2,322 shares of the company's stock worth $350,000 after buying an additional 95 shares during the last quarter. Signaturefd LLC raised its position in Reddit by 3.5% during the 1st quarter. Signaturefd LLC now owns 2,859 shares of the company's stock worth $300,000 after buying an additional 97 shares during the last quarter. CWM LLC raised its position in Reddit by 100.0% during the 1st quarter. CWM LLC now owns 256 shares of the company's stock worth $27,000 after buying an additional 128 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its position in 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 buying an additional 147 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on RDDT shares. Citigroup restated an "outperform" rating on shares of Reddit in a research report on Thursday, September 18th. Roth Capital upped their price objective on shares of Reddit from $130.00 to $145.00 and gave the stock a "neutral" rating in a research report on Monday, July 21st. Zacks Research downgraded shares of Reddit from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, September 30th. Guggenheim upped their price objective on shares of Reddit from $165.00 to $215.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Finally, Oppenheimer upped their price objective on shares of Reddit from $215.00 to $300.00 and gave the stock an "outperform" rating in a research report on Tuesday, September 16th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, ten have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Reddit currently has an average rating of "Moderate Buy" and an average price target of $203.92.

Reddit Stock Down 6.2%

NYSE:RDDT opened at $198.67 on Friday. Reddit Inc. has a fifty-two week low of $69.74 and a fifty-two week high of $282.95. The stock has a market cap of $37.18 billion, a PE ratio of 180.61, a price-to-earnings-growth ratio of 3.03 and a beta of 2.23. The firm's fifty day simple moving average is $229.29 and its 200-day simple moving average is $159.53.

Reddit (NYSE:RDDT - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The company reported $0.45 EPS for the quarter, beating analysts' consensus estimates of $0.20 by $0.25. The firm 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 firm's revenue was up 77.9% on a year-over-year basis. During the same period in the prior year, the company earned ($0.06) EPS. Reddit has set its Q3 2025 guidance at EPS. Equities analysts anticipate that Reddit Inc. will post 1.12 earnings per share for the current year.

Insider Buying and Selling at Reddit

In related news, CTO Christopher Brian Slowe sold 14,000 shares of the stock in a transaction dated Wednesday, October 8th. The shares were sold at an average price of $200.81, for a total value of $2,811,340.00. Following the sale, the chief technology officer directly owned 206,534 shares of the company's stock, valued at approximately $41,474,092.54. This represents a 6.35% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Jennifer L. Wong sold 30,741 shares of the company's stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $257.28, for a total transaction of $7,909,044.48. Following the completion of the transaction, the chief operating officer owned 1,295,968 shares in the company, valued at approximately $333,426,647.04. This trade represents a 2.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 411,834 shares of company stock valued at $89,323,939 in the last quarter. Insiders own 34.25% of the company's stock.

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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