Ritholtz Wealth Management Takes $271,000 Position in Reddit Inc. $RDDT

Key Points

• Ritholtz Wealth Management established a new position in Reddit Inc. ($RDDT) during Q2, purchasing 1,800 shares valued at approximately $271,000.
• Reddit reported strong Q2 earnings with $0.45 earnings per share, exceeding analysts' estimates, and achieved revenue of $499.63 million, up 77.9% year-over-year.
• Several brokerages have recently upgraded their ratings for Reddit, with Oppenheimer increasing its price target from $215 to $300.

Ritholtz Wealth Management bought a new stake in shares of Reddit Inc. (NYSE:RDDT - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 1,800 shares of the company's stock, valued at approximately $271,000.

Other large investors have also recently modified their holdings of the company. CWM LLC increased its position in shares of Reddit by 100.0% during the 1st 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 position in shares of Reddit during the 1st quarter valued at approximately $31,000. Geneos Wealth Management Inc. grew its position in Reddit by 344.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 369 shares of the company's stock valued at $39,000 after acquiring an additional 286 shares during the last quarter. Olde Wealth Management LLC bought a new position in Reddit in the 1st quarter valued at $46,000. Finally, Western Pacific Wealth Management LP bought a new position in Reddit in the 2nd quarter valued at $60,000.

Reddit Trading Up 1.5%

RDDT opened at $205.60 on Wednesday. Reddit Inc. has a 12-month low of $76.54 and a 12-month high of $282.95. The business's fifty day simple moving average is $227.66 and its 200-day simple moving average is $164.23. The company has a market capitalization of $38.48 billion, a price-to-earnings ratio of 186.91, a PEG ratio of 3.09 and a beta of 2.23.

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 analysts' consensus estimates of $0.20 by $0.25. The firm had revenue of $499.63 million during the quarter, compared to analysts' expectations of $424.07 million. Reddit had a return on equity of 9.93% and a net margin of 12.97%.The firm's quarterly revenue was up 77.9% on a year-over-year basis. During the same period in the prior year, the business posted ($0.06) EPS. Reddit has set its Q3 2025 guidance at EPS. On average, equities research analysts predict that Reddit Inc. will post 1.12 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have commented on RDDT. Oppenheimer upped their price objective on Reddit from $215.00 to $300.00 and gave the company an "outperform" rating in a research report on Tuesday, September 16th. Argus began coverage on Reddit in a research report on Monday, August 18th. They issued a "buy" rating and a $250.00 price objective on the stock. Cannonball Research reaffirmed a "buy" rating on shares of Reddit in a research report on Tuesday, September 23rd. Wolfe Research raised Reddit to an "outperform" rating in a research report on Sunday, August 3rd. Finally, Morgan Stanley upped their price objective on Reddit from $170.00 to $230.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $214.17.

Insider Buying and Selling

In related news, CTO Christopher Brian Slowe sold 14,000 shares of the company's stock in a transaction on Wednesday, October 8th. The stock was sold at an average price of $200.81, for a total transaction of $2,811,340.00. Following the completion of the sale, the chief technology officer directly owned 206,534 shares in the company, valued at $41,474,092.54. This represents a 6.35% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Andrew Vollero sold 30,000 shares of the company's stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $218.09, for a total value of $6,542,700.00. Following the sale, the chief financial officer owned 284,168 shares of the company's stock, valued at $61,974,199.12. This trade represents a 9.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 366,500 shares of company stock valued at $83,829,951. Company 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.

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