Reddit Inc. $RDDT Stock Position Lifted by Beaumont Financial Advisors LLC

Key Points

• Beaumont Financial Advisors LLC increased its stake in Reddit Inc. by 25.3% during the second quarter, now owning 6,672 shares valued at $1,005,000.
• In a positive market trend, several institutional investors, including Vanguard and JPMorgan, significantly increased their holdings in Reddit during the first quarter of 2023.
• Analysts are optimistic about Reddit's performance, with a consensus rating of "Moderate Buy" and an average price target of $201.58, reflecting projected growth for the company.

Beaumont Financial Advisors LLC grew its holdings in Reddit Inc. (NYSE:RDDT - Free Report) by 25.3% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,672 shares of the company's stock after acquiring an additional 1,346 shares during the period. Beaumont Financial Advisors LLC's holdings in Reddit were worth $1,005,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in Reddit by 11.1% during the 1st quarter. Vanguard Group Inc. now owns 10,198,552 shares of the company's stock worth $1,069,828,000 after acquiring an additional 1,017,162 shares during the last quarter. Alliancebernstein L.P. lifted its holdings in shares of Reddit by 103.0% during the 1st quarter. Alliancebernstein L.P. now owns 5,659,990 shares of the company's stock worth $593,733,000 after acquiring an additional 2,871,232 shares during the period. T. Rowe Price Investment Management Inc. lifted its holdings in shares of Reddit by 10.6% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 4,073,939 shares of the company's stock worth $427,357,000 after acquiring an additional 389,761 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Reddit by 98.2% during the 1st quarter. JPMorgan Chase & Co. now owns 1,907,495 shares of the company's stock worth $200,096,000 after acquiring an additional 944,847 shares during the period. Finally, Scge Management L.P. increased its position in shares of Reddit by 121.1% during the 1st quarter. Scge Management L.P. now owns 1,612,000 shares of the company's stock worth $169,099,000 after purchasing an additional 883,000 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on RDDT. Wall Street Zen upgraded shares of Reddit from a "hold" rating to a "buy" rating in a research report on Sunday, September 7th. JPMorgan Chase & Co. boosted their price objective on shares of Reddit from $145.00 to $190.00 and gave the company a "neutral" rating in a report on Friday, August 1st. Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $210.00 price target on shares of Reddit in a research note on Friday, August 22nd. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $212.00 price target on shares of Reddit in a research note on Friday, August 1st. Finally, Loop Capital cut their price target on shares of Reddit from $210.00 to $200.00 and set a "buy" rating on the stock in a research note on Thursday, June 12th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $201.58.

Reddit Stock Up 3.3%

Shares of RDDT stock opened at $240.37 on Friday. The company's fifty day simple moving average is $217.83 and its 200-day simple moving average is $153.01. The firm has a market cap of $44.99 billion, a PE ratio of 218.52, a P/E/G ratio of 3.66 and a beta of 2.40. Reddit Inc. has a 12 month low of $64.51 and a 12 month high of $282.95.

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

Insider Activity at Reddit

In related news, COO Jennifer L. Wong sold 40,967 shares of the company's stock in a transaction dated 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 approximately $26,452,872.54. This represents a 25.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Christopher Brian Slowe sold 28,000 shares of the stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $218.94, for a total transaction of $6,130,320.00. Following the sale, the chief technology officer owned 222,534 shares in the company, valued at $48,721,593.96. The trade was a 11.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 393,834 shares of company stock valued at $84,507,699 in the last ninety days. Company insiders own 34.25% of the company's stock.

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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