Reddit Inc. $RDDT Shares Sold by DekaBank Deutsche Girozentrale

Key Points

• DekaBank Deutsche Girozentrale reduced its stake in Reddit Inc. by 5.0%, holding 141,800 shares valued at approximately $21.35 million after selling 7,500 shares in Q2.
• Recent insider trading includes COO Jennifer L. Wong selling 40,967 shares for over $9 million, representing a 25.45% decrease in her ownership.
• Reddit reported a strong Q2 earnings performance, with $0.45 EPS exceeding analysts' expectations and a revenue increase of 77.9% year-over-year.

DekaBank Deutsche Girozentrale decreased its position in Reddit Inc. (NYSE:RDDT - Free Report) by 5.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 141,800 shares of the company's stock after selling 7,500 shares during the quarter. DekaBank Deutsche Girozentrale owned 0.08% of Reddit worth $21,351,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. CWM LLC raised its holdings in Reddit by 100.0% in the first quarter. CWM LLC now owns 256 shares of the company's stock valued at $27,000 after acquiring an additional 128 shares in the last quarter. Stone House Investment Management LLC acquired a new stake in Reddit during the first quarter worth approximately $31,000. Financial Perspectives Inc acquired a new stake in Reddit during the second quarter worth approximately $34,000. Geneos Wealth Management Inc. raised its holdings in Reddit by 344.6% during the first quarter. Geneos Wealth Management Inc. now owns 369 shares of the company's stock worth $39,000 after purchasing an additional 286 shares in the last quarter. Finally, Olde Wealth Management LLC acquired a new stake in Reddit during the first quarter worth approximately $46,000.

Insider Activity

In related news, COO Jennifer L. Wong sold 40,967 shares of Reddit stock in a transaction on Friday, August 22nd. The shares were 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 in the company, valued at $26,452,872.54. This trade represents a 25.45% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CTO Christopher Brian Slowe sold 28,000 shares of Reddit stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $218.94, for a total transaction of $6,130,320.00. Following the completion of the transaction, the chief technology officer owned 222,534 shares in the company, valued at approximately $48,721,593.96. This trade represents a 11.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 366,500 shares of company stock valued at $83,829,951. Corporate insiders own 34.25% of the company's stock.

Reddit Trading Down 4.3%

Shares of RDDT opened at $196.78 on Thursday. The firm has a market cap of $36.83 billion, a PE ratio of 178.89, a price-to-earnings-growth ratio of 3.14 and a beta of 2.23. The company's 50 day simple moving average is $226.90 and its 200-day simple moving average is $164.46. Reddit Inc. has a 12-month low of $76.65 and a 12-month high of $282.95.

Reddit (NYSE:RDDT - Get Free Report) last announced its earnings results on Thursday, July 31st. The company reported $0.45 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.20 by $0.25. The business had revenue of $499.63 million for the quarter, compared to analyst estimates of $424.07 million. Reddit had a net margin of 12.97% and a return on equity of 9.93%. The company's revenue for the quarter was up 77.9% compared to the same quarter last year. During the same period last year, the firm posted ($0.06) earnings per share. Reddit has set its Q3 2025 guidance at EPS. As a group, equities research analysts forecast that Reddit Inc. will post 1.12 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

RDDT has been the topic of a number of research analyst reports. Piper Sandler reissued an "overweight" rating and set a $290.00 price objective on shares of Reddit in a report on Friday, October 3rd. Royal Bank Of Canada reissued a "sector perform" rating on shares of Reddit in a report on Wednesday, October 1st. Sanford C. Bernstein raised their price objective on shares of Reddit from $130.00 to $150.00 and gave the stock a "market perform" rating in a report on Tuesday, July 22nd. Weiss Ratings reissued a "hold (c-)" rating on shares of Reddit in a report on Wednesday, October 8th. Finally, Zacks Research cut shares of Reddit from a "strong-buy" rating to a "hold" rating in a report on Tuesday, September 30th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Reddit currently has an average rating of "Moderate Buy" and an average price target of $214.17.

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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