Reddit Inc. $RDDT Shares Acquired by Janney Montgomery Scott LLC

Key Points

• Janney Montgomery Scott LLC increased its stake in Reddit Inc. by 44%, owning 13,223 shares valued at approximately $1.99 million after acquiring 4,040 additional shares in the second quarter.
• Research firms have upgraded their price targets for Reddit, with Jefferies raising it from $230 to $300, while Guggenheim set theirs from $165 to $215, reflecting a positive outlook for the stock.
• Reddit's shares recently fell 6.2% to $198.67, with a market cap of $37.18 billion and a P/E ratio of 180.61.

Janney Montgomery Scott LLC grew its stake in Reddit Inc. (NYSE:RDDT - Free Report) by 44.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,223 shares of the company's stock after purchasing an additional 4,040 shares during the period. Janney Montgomery Scott LLC's holdings in Reddit were worth $1,991,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in RDDT. Rhumbline Advisers grew its position in shares of Reddit by 202.7% in the first quarter. Rhumbline Advisers now owns 13,682 shares of the company's stock valued at $1,435,000 after purchasing an additional 9,162 shares in the last quarter. Farther Finance Advisors LLC grew its position in shares of Reddit by 152.0% in the first quarter. Farther Finance Advisors LLC now owns 620 shares of the company's stock valued at $68,000 after purchasing an additional 374 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Reddit in the first quarter valued at approximately $1,206,000. Polianta Ltd purchased a new stake in shares of Reddit in the first quarter valued at approximately $996,000. Finally, Salem Investment Counselors Inc. purchased a new stake in shares of Reddit in the first quarter valued at approximately $559,000.

Analyst Ratings Changes

A number of research firms have recently issued reports on RDDT. Jefferies Financial Group upped their price target on Reddit from $230.00 to $300.00 and gave the company a "buy" rating in a research report on Wednesday, September 10th. Guggenheim increased their price objective on Reddit from $165.00 to $215.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Roth Capital increased their price objective on Reddit from $130.00 to $145.00 and gave the stock a "neutral" rating in a research report on Monday, July 21st. Argus started coverage on Reddit in a research report on Monday, August 18th. They issued a "buy" rating and a $250.00 price objective for the company. Finally, Citigroup reiterated an "outperform" rating on shares of Reddit in a research report on Thursday, September 18th. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $203.92.

Reddit Trading Down 6.2%

Shares of NYSE RDDT opened at $198.67 on Friday. The stock has a market cap of $37.18 billion, a P/E ratio of 180.61, a PEG ratio of 3.23 and a beta of 2.23. Reddit Inc. has a 12-month low of $69.74 and a 12-month high of $282.95. The business's fifty day simple moving average is $229.29 and its 200-day simple moving average is $159.25.

Reddit (NYSE:RDDT - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The company reported $0.45 earnings per share for the quarter, beating 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 analysts' expectations of $424.07 million. During the same period last year, the firm earned ($0.06) earnings per share. Reddit's quarterly revenue was up 77.9% on a year-over-year basis. Reddit has set its Q3 2025 guidance at EPS. On average, equities analysts forecast that Reddit Inc. will post 1.12 EPS for the current fiscal year.

Insider Buying and Selling

In other Reddit news, COO Jennifer L. Wong sold 40,967 shares of Reddit stock in a transaction that occurred 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 sale, the chief operating officer owned 120,033 shares of the company's stock, valued at approximately $26,452,872.54. The trade was a 25.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Steve Ladd Huffman sold 18,000 shares of Reddit 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 completion of the sale, the chief executive officer directly owned 494,104 shares in the company, valued at $110,387,774.64. This represents a 3.51% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 411,834 shares of company stock worth $89,323,939. 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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