Stephens Investment Management Group LLC Grows Stock Holdings in Reddit Inc. $RDDT

Key Points

• Stephens Investment Management Group LLC increased its stake in Reddit Inc. by 35%, acquiring an additional 85,639 shares to own a total of 330,250 shares valued at approximately $49.7 million.
• Multiple institutional investors, including Patten Group Inc. and Stratos Wealth Partners LTD., also acquired new positions in Reddit during the second quarter, indicating growing interest in the company.
• Reddit's stock has been rated with a consensus of "Moderate Buy" and analysts have set price targets ranging from $145.00 to $300.00.

Stephens Investment Management Group LLC increased its stake in shares of Reddit Inc. (NYSE:RDDT - Free Report) by 35.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 330,250 shares of the company's stock after buying an additional 85,639 shares during the period. Stephens Investment Management Group LLC owned about 0.18% of Reddit worth $49,726,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Patten Group Inc. purchased a new stake in shares of Reddit in the second quarter valued at about $345,000. Financial Perspectives Inc acquired a new position in shares of Reddit in the second quarter valued at approximately $34,000. Stephens Inc. AR acquired a new position in shares of Reddit in the second quarter valued at approximately $266,000. West Tower Group LLC acquired a new position in shares of Reddit in the second quarter valued at approximately $708,000. Finally, Stratos Wealth Partners LTD. acquired a new position in shares of Reddit in the second quarter valued at approximately $1,469,000.

Analyst Ratings Changes

RDDT has been the subject of several research analyst reports. Roth Capital upped their price target on shares of Reddit from $130.00 to $145.00 and gave the stock a "neutral" rating in a research report on Monday, July 21st. Cannonball Research reaffirmed a "buy" rating on shares of Reddit in a research report on Tuesday, September 23rd. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Reddit in a research report on Wednesday, October 8th. Citigroup upped their price target on shares of Reddit from $220.00 to $250.00 and gave the stock a "buy" rating in a research report on Tuesday. Finally, Oppenheimer upped their price target on shares of Reddit from $215.00 to $300.00 and gave the stock an "outperform" rating in a research report on Tuesday, September 16th. Two research 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 issued a Sell rating to the stock. According to MarketBeat.com, Reddit presently has a consensus rating of "Moderate Buy" and a consensus target price of $214.17.

Insider Activity

In related news, COO Jennifer L. Wong sold 30,741 shares of the firm's stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $257.28, for a total transaction of $7,909,044.48. Following the completion of the sale, the chief operating officer directly owned 1,295,968 shares of the company's stock, valued at approximately $333,426,647.04. This trade represents a 2.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Andrew Vollero sold 30,000 shares of the firm's stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $218.09, for a total transaction of $6,542,700.00. Following the sale, the chief financial officer directly owned 284,168 shares of the company's stock, valued at approximately $61,974,199.12. The trade was a 9.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 366,500 shares of company stock valued at $83,829,951 in the last 90 days. Company insiders own 34.25% of the company's stock.

Reddit Stock Up 1.5%

Reddit stock opened at $205.60 on Wednesday. Reddit Inc. has a 52-week low of $76.54 and a 52-week high of $282.95. The firm has a fifty day moving average of $227.66 and a 200-day moving average of $164.23. The firm has a market capitalization of $38.48 billion, a P/E ratio of 186.91, a PEG ratio of 3.09 and a beta of 2.23.

Reddit (NYSE:RDDT - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate 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 quarter in the prior year, the business earned ($0.06) earnings per share. The business's quarterly revenue was up 77.9% compared to the same quarter last year. Reddit has set its Q3 2025 guidance at EPS. On average, research analysts expect that Reddit Inc. will post 1.12 EPS for the current fiscal year.

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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