Silvant Capital Management LLC Acquires 19,788 Shares of Reddit Inc. $RDDT

Key Points

• Silvant Capital Management LLC significantly increased its stake in Reddit Inc. by purchasing an additional 19,788 shares, raising its holdings by 239.5% to a total of 28,050 shares valued at approximately $2.94 million.
• Reddit reported a strong quarterly performance with $0.45 earnings per share (EPS), exceeding analysts' expectations of $0.20, alongside a revenue increase of 77.9% year-over-year.
• Insider activity included significant sales by CEO Steve Ladd Huffman and COO Jennifer L. Wong, indicating a decline in their personal holdings.

Silvant Capital Management LLC grew its holdings in Reddit Inc. (NYSE:RDDT - Free Report) by 239.5% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 28,050 shares of the company's stock after purchasing an additional 19,788 shares during the quarter. Silvant Capital Management LLC's holdings in Reddit were worth $2,942,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Vanguard Group Inc. raised its holdings in shares of Reddit by 11.1% in the 1st quarter. Vanguard Group Inc. now owns 10,198,552 shares of the company's stock valued at $1,069,828,000 after purchasing an additional 1,017,162 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its holdings in shares of Reddit by 10.6% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 4,073,939 shares of the company's stock valued at $427,357,000 after purchasing an additional 389,761 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Reddit by 98.2% in the 1st quarter. JPMorgan Chase & Co. now owns 1,907,495 shares of the company's stock valued at $200,096,000 after purchasing an additional 944,847 shares in the last quarter. Cresset Asset Management LLC raised its holdings in shares of Reddit by 159.6% in the 4th quarter. Cresset Asset Management LLC now owns 1,308,797 shares of the company's stock valued at $213,910,000 after purchasing an additional 804,591 shares in the last quarter. Finally, Whale Rock Capital Management LLC bought a new stake in shares of Reddit in the 4th quarter valued at about $204,054,000.

Reddit Stock Up 0.2%

NYSE RDDT opened at $220.09 on Wednesday. The firm has a market cap of $41.19 billion, a PE ratio of 200.08, a price-to-earnings-growth ratio of 3.48 and a beta of 2.30. The company has a 50 day moving average price of $173.41 and a 200 day moving average price of $141.61. Reddit Inc. has a 52 week low of $55.02 and a 52 week high of $253.14.

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

Insider Activity at Reddit

In other Reddit news, CEO Steve Ladd Huffman sold 124,409 shares of the company's stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $124.45, for a total transaction of $15,482,700.05. Following the transaction, the chief executive officer owned 546,133 shares in the company, valued at approximately $67,966,251.85. This represents a 18.55% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Jennifer L. Wong sold 40,967 shares of the company's stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $220.38, for a total transaction of $9,028,307.46. Following the transaction, the chief operating officer owned 120,033 shares in the company, valued at $26,452,872.54. The trade was a 25.45% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 482,777 shares of company stock worth $79,766,696. 34.25% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

RDDT has been the subject of several recent research reports. B. Riley restated a "buy" rating and issued a $220.00 price target (down previously from $222.00) on shares of Reddit in a report on Friday, May 2nd. Robert W. Baird boosted their price target on shares of Reddit from $120.00 to $151.00 and gave the company a "neutral" rating in a report on Tuesday, July 8th. Morgan Stanley boosted their price target on shares of Reddit from $170.00 to $230.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Sanford C. Bernstein boosted their price objective on shares of Reddit from $130.00 to $150.00 and gave the stock a "market perform" rating in a research note on Tuesday, July 22nd. 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 research note on Thursday, June 12th. Two equities research 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 stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $175.38.

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.

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