Siren L.L.C. Buys Shares of 23,500 Reddit Inc. $RDDT

Key Points

• Siren L.L.C. acquired 23,500 shares of Reddit Inc. ($RDDT) worth approximately $2.47 million during the first quarter, according to a recent SEC filing.
• Reddit's stock price has increased by 7.8%, with shares opening at $259.04 and a market capitalization of $48.48 billion.
• Following a recent earnings report, Reddit beat earnings expectations with $0.45 EPS and significant revenue growth of 77.9% year-over-year, generating $499.63 million for the quarter.

Siren L.L.C. purchased a new stake in Reddit Inc. (NYSE:RDDT - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 23,500 shares of the company's stock, valued at approximately $2,465,000.

A number of other institutional investors have also recently modified their holdings of the business. Geneos Wealth Management Inc. boosted its stake in shares of Reddit by 344.6% in the first quarter. Geneos Wealth Management Inc. now owns 369 shares of the company's stock valued at $39,000 after buying an additional 286 shares in the last quarter. IFM Investors Pty Ltd purchased a new stake in shares of Reddit in the first quarter valued at approximately $1,317,000. Focus Partners Wealth boosted its stake in shares of Reddit by 40.8% in the first quarter. Focus Partners Wealth now owns 10,224 shares of the company's stock valued at $1,073,000 after buying an additional 2,965 shares in the last quarter. Flaharty Asset Management LLC purchased a new stake in shares of Reddit in the first quarter valued at approximately $210,000. Finally, Plato Investment Management Ltd boosted its stake in shares of Reddit by 712.7% in the first quarter. Plato Investment Management Ltd now owns 1,349 shares of the company's stock valued at $143,000 after buying an additional 1,183 shares in the last quarter.

Reddit Stock Up 7.8%

Shares of NYSE:RDDT opened at $259.04 on Thursday. Reddit Inc. has a 52-week low of $55.84 and a 52-week high of $261.13. The stock's fifty day simple moving average is $192.30 and its 200-day simple moving average is $144.50. The company has a market capitalization of $48.48 billion, a P/E ratio of 235.49, a P/E/G ratio of 3.81 and a beta of 2.40.

Reddit (NYSE:RDDT - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.25. Reddit had a return on equity of 9.93% and a net margin of 12.97%.The business had revenue of $499.63 million for the quarter, compared to the consensus estimate of $424.07 million. During the same period in the prior year, the business earned ($0.06) earnings per share. The business's revenue was up 77.9% on a year-over-year basis. Reddit has set its Q3 2025 guidance at EPS. On average, sell-side analysts anticipate that Reddit Inc. will post 1.12 earnings per share for the current year.

Insiders Place Their Bets

In other news, 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 directly owned 284,168 shares in the company, valued at $61,974,199.12. This represents a 9.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Benjamin Seong Lee sold 6,426 shares of the company's stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $220.28, for a total value of $1,415,519.28. Following the completion of the sale, the insider owned 83,445 shares in the company, valued at $18,381,264.60. This represents a 7.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 530,777 shares of company stock valued at $92,101,216. Insiders own 34.25% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on RDDT. JPMorgan Chase & Co. lifted their price target on Reddit from $145.00 to $190.00 and gave the company a "neutral" rating in a research note on Friday, August 1st. Guggenheim lifted their price target on Reddit from $165.00 to $215.00 and gave the company a "buy" rating in a research note on Friday, August 1st. Argus assumed coverage on Reddit in a research note on Monday, August 18th. They issued a "buy" rating and a $250.00 price target on the stock. JMP Securities lifted their price objective on Reddit from $180.00 to $225.00 and gave the stock a "market outperform" rating in a report on Friday, August 1st. Finally, Bank of America lifted their price objective on Reddit from $130.00 to $150.00 and gave the stock a "neutral" rating in a report on Wednesday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $180.58.

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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