US Bancorp DE Raises Holdings in Reddit Inc. $RDDT

Key Points

• US Bancorp DE increased its holdings in Reddit Inc. by 46.9% in the second quarter, owning 6,102 shares valued at approximately $919,000.
• Reddit's recent financial results showed an earnings per share of $0.45, exceeding analyst expectations, with a significant revenue increase of 77.9% year-over-year.
• Insider selling activity was reported, including CFO Andrew Vollero selling 30,000 shares valued at over $6.5 million, indicating a 9.55% decrease in his ownership stake.

US Bancorp DE grew its position in shares of Reddit Inc. (NYSE:RDDT - Free Report) by 46.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,102 shares of the company's stock after buying an additional 1,948 shares during the period. US Bancorp DE's holdings in Reddit were worth $919,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in RDDT. Farther Finance Advisors LLC raised its stake in shares of Reddit by 152.0% during the 1st quarter. Farther Finance Advisors LLC now owns 620 shares of the company's stock valued at $68,000 after purchasing an additional 374 shares during the period. Janney Montgomery Scott LLC grew its position in Reddit by 4.5% during the 1st quarter. Janney Montgomery Scott LLC now owns 9,183 shares of the company's stock worth $963,000 after acquiring an additional 397 shares during the last quarter. Sowell Financial Services LLC bought a new position in Reddit during the 1st quarter worth approximately $739,000. QRG Capital Management Inc. bought a new position in Reddit during the 1st quarter worth approximately $368,000. Finally, Envestnet Portfolio Solutions Inc. grew its position in Reddit by 20.9% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 4,502 shares of the company's stock worth $472,000 after acquiring an additional 778 shares during the last quarter.

Reddit Stock Performance

NYSE:RDDT opened at $195.00 on Friday. The firm has a market capitalization of $36.50 billion, a PE ratio of 177.27, a P/E/G ratio of 3.04 and a beta of 2.23. The stock has a 50-day simple moving average of $228.39 and a two-hundred day simple moving average of $162.31. Reddit Inc. has a 52-week low of $76.42 and a 52-week high of $282.95.

Reddit (NYSE:RDDT - Get Free Report) last released 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 analyst estimates of $424.07 million. Reddit had a return on equity of 9.93% and a net margin of 12.97%.The business's quarterly revenue was up 77.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.06) earnings per share. Reddit has set its Q3 2025 guidance at EPS. Equities analysts forecast that Reddit Inc. will post 1.12 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Andrew Vollero sold 30,000 shares of the company's stock in a transaction dated 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 completion of the transaction, the chief financial officer owned 284,168 shares of the company's stock, valued at $61,974,199.12. This represents a 9.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Steve Ladd Huffman sold 18,000 shares of the business's stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $223.41, for a total value of $4,021,380.00. Following the completion of the sale, the chief executive officer owned 494,104 shares in the company, valued at $110,387,774.64. This represents a 3.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 382,500 shares of company stock worth $86,159,231. 34.25% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms recently issued reports on RDDT. Cannonball Research restated a "buy" rating on shares of Reddit in a research report on Tuesday, September 23rd. Royal Bank Of Canada reiterated a "sector perform" rating on shares of Reddit in a research note on Wednesday, October 1st. Argus initiated coverage on Reddit in a research note on Monday, August 18th. They set a "buy" rating and a $250.00 price objective for the company. Citigroup reiterated an "outperform" rating on shares of Reddit in a research note on Thursday, September 18th. Finally, Sanford C. Bernstein lifted their price objective on Reddit from $130.00 to $150.00 and gave the company a "market perform" rating in a research note on Tuesday, July 22nd. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Reddit currently has a consensus rating of "Moderate Buy" and a consensus target price of $209.50.

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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