Reddit Inc. $RDDT Shares Purchased by Quantbot Technologies LP

Key Points

• Quantbot Technologies LP increased its stake in Reddit Inc. by 137.5% during the first quarter, acquiring additional shares worth approximately $6.81 million.
• Reddit reported a quarterly EPS of $0.45, exceeding analysts' expectations, with a year-over-year revenue increase of 77.9% to $499.63 million.
• Insider trading activities included significant sales by CEO Steve Ladd Huffman and COO Jennifer L. Wong, with insiders selling a total of 366,568 shares in the last 90 days.

Quantbot Technologies LP grew its stake in shares of Reddit Inc. (NYSE:RDDT - Free Report) by 137.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 64,959 shares of the company's stock after acquiring an additional 37,609 shares during the period. Quantbot Technologies LP's holdings in Reddit were worth $6,814,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Rockefeller Capital Management L.P. purchased a new position in shares of Reddit during the 4th quarter worth approximately $1,672,000. Mariner LLC increased its stake in shares of Reddit by 244.3% during the 4th quarter. Mariner LLC now owns 21,650 shares of the company's stock worth $3,538,000 after purchasing an additional 15,361 shares in the last quarter. Guggenheim Capital LLC purchased a new position in shares of Reddit during the 4th quarter worth approximately $606,000. United Capital Financial Advisors LLC purchased a new position in shares of Reddit during the 4th quarter worth approximately $218,000. Finally, NewEdge Advisors LLC increased its stake in shares of Reddit by 446.8% during the 4th quarter. NewEdge Advisors LLC now owns 3,281 shares of the company's stock worth $536,000 after purchasing an additional 2,681 shares in the last quarter.

Reddit Stock Down 0.6%

Shares of NYSE RDDT traded down $1.3650 during trading on Friday, hitting $217.2850. 7,623,279 shares of the company traded hands, compared to its average volume of 7,906,831. Reddit Inc. has a 1 year low of $55.02 and a 1 year high of $253.14. The company has a 50-day moving average price of $167.83 and a 200-day moving average price of $142.16. The firm has a market capitalization of $40.67 billion, a P/E ratio of 197.53, a P/E/G ratio of 3.46 and a beta of 2.30.

Reddit (NYSE:RDDT - Get Free Report) last announced its quarterly earnings data 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. Reddit had a net margin of 12.97% and a return on equity of 9.93%. The company had revenue of $499.63 million during the quarter, compared to analysts' expectations of $424.07 million. During the same period in the previous year, the company earned ($0.06) EPS. The business's quarterly revenue was up 77.9% compared to the same quarter last year. Reddit has set its Q3 2025 guidance at EPS. Research analysts predict that Reddit Inc. will post 1.12 EPS for the current fiscal year.

Insider Buying and Selling at Reddit

In related news, CTO Christopher Brian Slowe sold 16,000 shares of the company's stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $145.58, for a total transaction of $2,329,280.00. Following the completion of the sale, the chief technology officer directly owned 241,373 shares of the company's stock, valued at approximately $35,139,081.34. This represents a 6.22% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Michelle Marie Reynolds sold 3,500 shares of the company's stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $202.60, for a total transaction of $709,100.00. Following the sale, the chief accounting officer directly owned 34,368 shares of the company's stock, valued at approximately $6,962,956.80. This trade represents a 9.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 363,364 shares of company stock valued at $53,557,742 in the last quarter. Company insiders own 34.25% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on RDDT shares. Wolfe Research raised shares of Reddit to an "outperform" rating in a research note on Sunday, August 3rd. Guggenheim lifted their target price 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. JMP Securities lifted their target price on shares of Reddit from $180.00 to $225.00 and gave the stock a "market outperform" rating in a research note on Friday, August 1st. Sanford C. Bernstein lifted their target price on shares of Reddit from $130.00 to $150.00 and gave the stock a "market perform" rating in a research note on Tuesday, July 22nd. Finally, Argus assumed coverage on shares of Reddit in a research note on Monday. They set a "buy" rating and a $250.00 price objective for the company. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Reddit currently has a consensus rating of "Moderate Buy" and an average 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.