Greycroft LP Purchases 6,000 Shares of Reddit Inc. $RDDT

Key Points

• Greycroft LP increased its stake in Reddit Inc. by 109.1% during the first quarter, making up about 1.3% of its holdings and valued at approximately $1.2 million.
• Reddit's recent earnings report showed $0.45 earnings per share, significantly surpassing analysts' expectations of $0.20, with a 77.9% year-over-year revenue growth.
• In recent insider transactions, both CTO and CEO sold shares of the company's stock, resulting in a substantial decrease in their ownership percentages, with insiders currently holding 34.25% of the stock.

Greycroft LP boosted its position in shares of Reddit Inc. (NYSE:RDDT - Free Report) by 109.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,500 shares of the company's stock after buying an additional 6,000 shares during the period. Reddit accounts for about 1.3% of Greycroft LP's portfolio, making the stock its 4th largest holding. Greycroft LP's holdings in Reddit were worth $1,206,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. CWM LLC increased its stake in Reddit by 100.0% during the 1st 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. Fourth Dimension Wealth LLC purchased a new stake in Reddit during the 4th quarter worth approximately $49,000. Chelsea Counsel Co. purchased a new stake in Reddit during the 4th quarter worth approximately $49,000. Stone House Investment Management LLC purchased a new stake in Reddit during the 1st quarter worth approximately $31,000. Finally, Quarry LP purchased a new stake in Reddit during the 4th quarter worth approximately $59,000.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Morgan Stanley boosted their price objective on Reddit from $170.00 to $230.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Citigroup boosted their price objective on Reddit from $158.00 to $163.00 and gave the stock a "buy" rating in a research note on Tuesday, June 24th. Wall Street Zen lowered Reddit from a "buy" rating to a "hold" rating in a research note on Saturday. JMP Securities boosted their target price on Reddit from $180.00 to $225.00 and gave the stock a "market outperform" rating in a report on Friday, August 1st. Finally, Roth Capital boosted their target price on Reddit from $130.00 to $145.00 and gave the stock a "neutral" rating in a report on Monday, July 21st. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Reddit presently has a consensus rating of "Moderate Buy" and an average price target of $175.38.

Insiders Place Their Bets

In related news, COO Jennifer L. Wong sold 40,967 shares of the 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 completion of 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Steve Ladd Huffman sold 124,409 shares of the stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $124.45, for a total value of $15,482,700.05. Following the completion of the transaction, the chief executive officer owned 546,133 shares of the company's stock, valued at $67,966,251.85. The trade was a 18.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 468,777 shares of company stock valued at $78,225,996. 34.25% of the stock is currently owned by insiders.

Reddit Stock Down 0.1%

Shares of Reddit stock traded down $0.26 on Friday, hitting $225.28. 3,918,539 shares of the company were exchanged, compared to its average volume of 8,207,025. The stock has a market capitalization of $42.16 billion, a price-to-earnings ratio of 204.80, a price-to-earnings-growth ratio of 3.57 and a beta of 2.30. The company has a 50-day moving average price of $178.21 and a 200 day moving average price of $141.66. Reddit Inc. has a 1-year low of $55.25 and a 1-year high of $253.14.

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

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.