Reddit Inc. $RDDT Shares Acquired by Greycroft LP

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 holdings in shares of Reddit Inc. (NYSE:RDDT - Free Report) by 109.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 11,500 shares of the company's stock after buying an additional 6,000 shares during the quarter. 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 quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in RDDT. CWM LLC lifted its position 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 buying an additional 128 shares during the last quarter. Fourth Dimension Wealth LLC acquired a new position in Reddit in the 4th quarter valued at about $49,000. Chelsea Counsel Co. purchased a new stake in shares of Reddit during the 4th quarter worth about $49,000. Stone House Investment Management LLC purchased a new position in Reddit in the 1st quarter worth approximately $31,000. Finally, Quarry LP bought a new position in Reddit during the fourth quarter worth $59,000.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Wolfe Research upgraded shares of Reddit to an "outperform" rating in a research note on Sunday, August 3rd. Argus began coverage on Reddit in a research note on Monday, August 18th. They set a "buy" rating and a $250.00 target price on the stock. Robert W. Baird lifted their price target on Reddit from $120.00 to $151.00 and gave the company a "neutral" rating in a report on Tuesday, July 8th. Roth Mkm boosted their target price on Reddit from $120.00 to $130.00 and gave the stock a "neutral" rating in a report on Friday, May 2nd. Finally, Sanford C. Bernstein upped their price target on Reddit from $130.00 to $150.00 and gave the stock a "market perform" rating in a report on Tuesday, July 22nd. Two research 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 issued a Sell rating to the company. According to data from MarketBeat, Reddit presently has an average rating of "Moderate Buy" and an average target price of $175.38.

Reddit Stock Performance

NYSE:RDDT traded down $0.26 during mid-day trading on Friday, hitting $225.28. The company had a trading volume of 3,918,539 shares, compared to its average volume of 8,207,025. The firm has a market cap of $42.16 billion, a P/E ratio of 205.04, a P/E/G ratio of 3.58 and a beta of 2.30. The business's fifty day moving average is $176.49 and its two-hundred day moving average is $142.10. Reddit Inc. has a fifty-two week low of $55.25 and a fifty-two week high of $253.14.

Reddit (NYSE:RDDT - Get Free Report) last posted its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $424.07 million. Reddit had a return on equity of 9.93% and a net margin of 12.97%.Reddit's quarterly revenue was up 77.9% on a year-over-year basis. During the same period last year, the company earned ($0.06) earnings per share. Reddit has set its Q3 2025 guidance at EPS. Equities analysts forecast that Reddit Inc. will post 1.12 earnings per share for the current year.

Insider Buying and Selling

In other news, CAO Michelle Marie Reynolds sold 3,214 shares of the firm's stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $217.69, for a total value of $699,655.66. Following the completion of the sale, the chief accounting officer directly owned 28,088 shares of the company's stock, valued at $6,114,476.72. This trade represents a 10.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, COO Jennifer L. Wong sold 30,806 shares of the firm's stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $218.55, for a total value of $6,732,651.30. Following the completion of the sale, the chief operating officer directly owned 1,326,709 shares of the company's stock, valued at approximately $289,952,251.95. The trade was a 2.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 468,777 shares of company stock valued at $78,225,996. Insiders own 34.25% of the company's stock.

Reddit Company 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.