Reddit Inc. $RDDT Position Boosted by Wealth Enhancement Advisory Services LLC

Key Points

• Wealth Enhancement Advisory Services LLC increased its stake in Reddit Inc. by 60.3% during the second quarter, holding a total of 8,258 shares valued at approximately $1.3 million.
• Insider transactions revealed that CFO Andrew Vollero and CTO Christopher Brian Slowe sold significant amounts of stock, decreasing their holdings by 9.55% and 11.18%, respectively.
• Equities analysts have set new price targets for Reddit, with recommendations ranging from neutral to buy, reflecting a consensus rating of "Moderate Buy" and an average target price of $201.58.

Wealth Enhancement Advisory Services LLC grew its holdings in shares of Reddit Inc. (NYSE:RDDT - Free Report) by 60.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,258 shares of the company's stock after purchasing an additional 3,106 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Reddit were worth $1,297,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. CWM LLC boosted its holdings in Reddit by 100.0% during the first quarter. CWM LLC now owns 256 shares of the company's stock worth $27,000 after buying an additional 128 shares in the last quarter. Stone House Investment Management LLC bought a new stake in shares of Reddit during the 1st quarter worth $31,000. Geneos Wealth Management Inc. boosted its stake in shares of Reddit by 344.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 369 shares of the company's stock worth $39,000 after acquiring an additional 286 shares in the last quarter. Canton Hathaway LLC bought a new stake in shares of Reddit during the 1st quarter worth $43,000. Finally, Olde Wealth Management LLC bought a new stake in shares of Reddit during the 1st quarter worth $46,000.

Insider Buying and Selling

In other news, CFO Andrew Vollero sold 30,000 shares of the business's stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $218.09, for a total transaction of $6,542,700.00. Following the completion of the transaction, the chief financial officer owned 284,168 shares of the company's stock, valued at approximately $61,974,199.12. The trade was a 9.55% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Christopher Brian Slowe sold 28,000 shares of the company's stock in a transaction dated 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 completion of the transaction, the chief technology officer directly owned 222,534 shares of the company's stock, valued at approximately $48,721,593.96. The trade was a 11.18% decrease in their position. The disclosure for this sale can be found here. Insiders sold 379,834 shares of company stock valued at $82,388,799 over the last 90 days. 34.25% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Robert W. Baird increased their price target on Reddit from $177.00 to $240.00 and gave the company a "neutral" rating in a research report on Thursday, September 25th. Wolfe Research upgraded shares of Reddit to an "outperform" rating in a report on Sunday, August 3rd. Cannonball Research reiterated a "buy" rating on shares of Reddit in a report on Tuesday, September 23rd. Needham & Company LLC raised their price objective on shares of Reddit from $215.00 to $300.00 and gave the stock a "buy" rating in a research note on Monday, September 15th. Finally, Guggenheim raised their price objective on shares of Reddit from $165.00 to $215.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Reddit currently has a consensus rating of "Moderate Buy" and an average target price of $201.58.

Reddit Price Performance

Reddit stock opened at $230.39 on Wednesday. The company has a market cap of $43.12 billion, a price-to-earnings ratio of 209.45, a P/E/G ratio of 3.81 and a beta of 2.40. The firm has a 50-day moving average of $221.43 and a 200-day moving average of $154.71. Reddit Inc. has a one year low of $64.51 and a one year high of $282.95.

Reddit (NYSE:RDDT - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.25. The business had revenue of $499.63 million during the quarter, compared to the consensus estimate 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 quarter last year, the firm posted ($0.06) EPS. Reddit has set its Q3 2025 guidance at EPS. As a group, sell-side analysts expect that Reddit Inc. will post 1.12 earnings per share for the current year.

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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