Renaissance Capital LLC Has $15.86 Million Stake in Reddit Inc. $RDDT

Key Points

• Renaissance Capital LLC increased its stake in Reddit Inc. by 204.1% in the second quarter, acquiring a total of 105,340 shares valued at approximately $15.86 million.
• Recent insider transactions included CTO Christopher Brian Slowe selling 28,000 shares and CEO Steve Ladd Huffman selling 18,000 shares, indicating a decrease in their holdings.
• Reddit's stock trading price saw a 0.8% increase recently, with a twelve-month range of $64.51 to $282.95 and a market cap of $45.29 billion.

Renaissance Capital LLC increased its stake in Reddit Inc. (NYSE:RDDT - Free Report) by 204.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 105,340 shares of the company's stock after buying an additional 70,704 shares during the period. Reddit comprises about 11.1% of Renaissance Capital LLC's investment portfolio, making the stock its 2nd largest position. Renaissance Capital LLC owned approximately 0.06% of Reddit worth $15,861,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. CWM LLC increased its stake in Reddit by 100.0% during the first quarter. CWM LLC now owns 256 shares of the company's stock valued at $27,000 after purchasing an additional 128 shares during the last quarter. Stone House Investment Management LLC bought a new stake in Reddit during the first quarter valued at $31,000. Geneos Wealth Management Inc. increased its stake in Reddit by 344.6% during the first quarter. Geneos Wealth Management Inc. now owns 369 shares of the company's stock valued at $39,000 after purchasing an additional 286 shares during the last quarter. Western Pacific Wealth Management LP acquired a new stake in shares of Reddit in the 2nd quarter worth about $60,000. Finally, Canton Hathaway LLC acquired a new stake in shares of Reddit in the 1st quarter worth about $43,000.

Insider Activity

In other Reddit news, CTO Christopher Brian Slowe sold 28,000 shares of Reddit 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 transaction, the chief technology officer directly owned 222,534 shares in the company, valued at approximately $48,721,593.96. The trade was a 11.18% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Steve Ladd Huffman sold 18,000 shares of Reddit stock in a transaction on Friday, August 29th. The shares were sold at an average price of $223.41, for a total value of $4,021,380.00. Following the transaction, the chief executive officer owned 494,104 shares in the company, valued at $110,387,774.64. This represents a 3.51% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 379,834 shares of company stock worth $82,388,799. Company insiders own 34.25% of the company's stock.

Reddit Trading Up 0.8%

NYSE:RDDT opened at $241.98 on Tuesday. Reddit Inc. has a twelve month low of $64.51 and a twelve month high of $282.95. The company has a 50-day moving average of $219.74 and a 200-day moving average of $154.18. The firm has a market cap of $45.29 billion, a price-to-earnings ratio of 219.98, a price-to-earnings-growth ratio of 3.78 and a beta of 2.38.

Reddit (NYSE:RDDT - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The company reported $0.45 EPS 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 company had revenue of $499.63 million during the quarter, compared to analyst estimates of $424.07 million. During the same period in the prior year, the firm earned ($0.06) earnings per share. The business's quarterly revenue was up 77.9% on a year-over-year basis. Reddit has set its Q3 2025 guidance at EPS. On average, research analysts forecast that Reddit Inc. will post 1.12 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $212.00 price objective on shares of Reddit in a report on Friday, August 1st. Morgan Stanley increased their price objective on shares of Reddit from $170.00 to $230.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Sanford C. Bernstein increased 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. Wall Street Zen raised shares of Reddit from a "hold" rating to a "buy" rating in a report on Sunday, September 7th. Finally, Loop Capital reduced their price objective on shares of Reddit from $210.00 to $200.00 and set a "buy" rating for the company in a report on Thursday, June 12th. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Reddit has an average rating of "Moderate Buy" and an average price target of $201.58.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.