Reddit Inc. $RDDT Shares Sold by Sivia Capital Partners LLC

Key Points

• Sivia Capital Partners LLC decreased its stake in Reddit Inc. by 83.2% during Q2, now holding 30,837 shares worth approximately $4.6 million.
• Insider sales at Reddit included COO Jennifer L. Wong selling 30,806 shares, valued at over $6.7 million, indicating a 2.27% decrease in her ownership.
• Reddit's stock performance shows a recent high of $268.15 and a substantial 77.9% year-over-year revenue growth in its latest earnings report.

Sivia Capital Partners LLC trimmed its holdings in shares of Reddit Inc. (NYSE:RDDT - Free Report) by 83.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 30,837 shares of the company's stock after selling 153,135 shares during the quarter. Reddit comprises 1.4% of Sivia Capital Partners LLC's portfolio, making the stock its 10th biggest holding. Sivia Capital Partners LLC's holdings in Reddit were worth $4,643,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of RDDT. CWM LLC increased its position in Reddit by 100.0% during the first quarter. CWM LLC now owns 256 shares of the company's stock worth $27,000 after buying an additional 128 shares during the last quarter. Stone House Investment Management LLC acquired a new position in Reddit during the first quarter worth $31,000. Geneos Wealth Management Inc. boosted its holdings 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 acquiring an additional 286 shares during the period. Canton Hathaway LLC bought a new stake in Reddit during the first quarter valued at about $43,000. Finally, Olde Wealth Management LLC bought a new stake in Reddit during the first quarter valued at about $46,000.

Reddit Price Performance

Shares of NYSE:RDDT traded down $4.96 during trading on Friday, reaching $265.75. The stock had a trading volume of 11,570,924 shares, compared to its average volume of 5,200,335. Reddit Inc. has a 52 week low of $63.60 and a 52 week high of $282.95. The business's 50-day moving average price is $208.28 and its 200 day moving average price is $149.28. The stock has a market capitalization of $49.74 billion, a PE ratio of 241.59, a P/E/G ratio of 4.16 and a beta of 2.40.

Reddit (NYSE:RDDT - Get Free Report) last posted its 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 company 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 company posted ($0.06) earnings per share. Reddit's quarterly revenue was up 77.9% compared to the same quarter last year. Reddit has set its Q3 2025 guidance at EPS. Analysts forecast that Reddit Inc. will post 1.12 EPS for the current year.

Analyst Ratings Changes

RDDT has been the subject of a number of recent analyst reports. Piper Sandler upped their price target on shares of Reddit from $210.00 to $290.00 and gave the company an "overweight" rating in a report on Thursday. JMP Securities upped their price target on shares of Reddit from $225.00 to $300.00 and gave the company a "market outperform" rating in a report on Thursday. Royal Bank Of Canada restated a "sector perform" rating and set a $210.00 price target on shares of Reddit in a report on Friday, August 22nd. Loop Capital decreased their price target 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. Finally, Citigroup restated an "outperform" rating on shares of Reddit in a report on Thursday. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given 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 has an average rating of "Moderate Buy" and an average price target of $197.88.

Insider Activity

In related news, CTO Christopher Brian Slowe sold 28,000 shares of the firm'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 value of $6,130,320.00. Following the completion of the sale, the chief technology officer owned 222,534 shares of the company's stock, valued at $48,721,593.96. This trade represents a 11.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Jennifer L. Wong sold 40,967 shares of the firm'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 completion of the sale, the chief operating officer directly owned 120,033 shares of the company's stock, valued at approximately $26,452,872.54. This represents a 25.45% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 360,126 shares of company stock worth $73,529,359. 34.25% of the stock is currently owned by insiders.

About Reddit

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.