Reddit Inc. $RDDT Shares Bought by Ieq Capital LLC

Key Points

• Ieq Capital LLC significantly increased its stake in Reddit Inc. by 580.1%, owning 232,806 shares valued at approximately $24.4 million as of the latest SEC filing.
• CEO Steve Ladd Huffman sold 14,000 shares of Reddit, reducing his ownership by 2.57% to approximately 531,485 shares valued at over $130 million.
• Reddit's latest earnings report showed a 77.9% year-over-year revenue increase, reporting $499.63 million, and an earnings per share of $0.45, exceeding analysts' expectations.

Ieq Capital LLC grew its stake in Reddit Inc. (NYSE:RDDT - Free Report) by 580.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 232,806 shares of the company's stock after purchasing an additional 198,576 shares during the period. Ieq Capital LLC owned approximately 0.13% of Reddit worth $24,421,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Signaturefd LLC boosted its position in shares of Reddit by 3.5% during the 1st quarter. Signaturefd LLC now owns 2,859 shares of the company's stock valued at $300,000 after acquiring an additional 97 shares during the last quarter. CWM LLC raised its stake in Reddit by 100.0% during the first quarter. CWM LLC now owns 256 shares of the company's stock worth $27,000 after purchasing an additional 128 shares during the period. Northwestern Mutual Wealth Management Co. boosted its holdings in Reddit by 12.5% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 1,323 shares of the company's stock valued at $139,000 after purchasing an additional 147 shares during the last quarter. Morling Financial Advisors LLC grew its stake in shares of Reddit by 3.8% in the 1st quarter. Morling Financial Advisors LLC now owns 5,487 shares of the company's stock valued at $576,000 after buying an additional 202 shares during the period. Finally, Wedbush Securities Inc. grew its stake in shares of Reddit by 10.3% in the 1st quarter. Wedbush Securities Inc. now owns 2,487 shares of the company's stock valued at $261,000 after buying an additional 233 shares during the period.

Insider Buying and Selling at Reddit

In other Reddit news, CTO Christopher Brian Slowe sold 28,000 shares of the business's stock in a transaction that occurred 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 $48,721,593.96. The trade was a 11.18% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Jennifer L. Wong sold 40,967 shares of the 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 completion of 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 468,777 shares of company stock worth $78,225,996. 34.25% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have recently commented on RDDT shares. B. Riley reaffirmed a "buy" rating and set a $220.00 price target (down previously from $222.00) on shares of Reddit in a research report on Friday, May 2nd. Raymond James Financial restated a "strong-buy" rating and issued a $225.00 target price (up previously from $175.00) on shares of Reddit in a research report on Friday, August 1st. Morgan Stanley increased their price target on Reddit from $170.00 to $230.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Argus began coverage on shares of Reddit in a report on Monday, August 18th. They issued a "buy" rating and a $250.00 price objective on the stock. Finally, Sanford C. Bernstein upped their target price on shares of Reddit from $130.00 to $150.00 and gave the company a "market perform" rating in a research report on Tuesday, July 22nd. Two 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 MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $175.38.

Reddit Stock Down 0.1%

NYSE:RDDT traded down $0.26 on Friday, reaching $225.28. 3,918,539 shares of the company's stock were exchanged, compared to its average volume of 8,207,025. The firm has a market capitalization of $42.16 billion, a price-to-earnings ratio of 204.80, a price-to-earnings-growth ratio of 3.58 and a beta of 2.30. Reddit Inc. has a 52-week low of $55.25 and a 52-week high of $253.14. The business has a fifty day moving average of $178.21 and a 200-day moving average of $142.18.

Reddit (NYSE:RDDT - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The company reported $0.45 earnings per share for the quarter, beating 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 firm had revenue of $499.63 million during the quarter, compared to analysts' expectations of $424.07 million. During the same quarter in the previous year, the business posted ($0.06) earnings per share. 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. As a group, equities analysts anticipate that Reddit Inc. will post 1.12 earnings per share 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.