Valeo Financial Advisors LLC Takes $252,000 Position in Reddit Inc. $RDDT

Key Points

• Valeo Financial Advisors LLC recently invested $252,000 in Reddit Inc. by purchasing 1,677 shares in the second quarter.
• Major institutional investors, including Vanguard Group Inc. and JPMorgan Chase & Co., have significantly increased their holdings in Reddit, reflecting growing interest in the company.
• Reddit reported a 77.9% increase in revenue compared to the previous year, with a quarterly EPS of $0.45, surpassing analyst expectations.

Valeo Financial Advisors LLC purchased a new stake in Reddit Inc. (NYSE:RDDT - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 1,677 shares of the company's stock, valued at approximately $252,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. grew its position 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 during the period. Alliancebernstein L.P. grew its position in shares of Reddit by 103.0% in the 1st quarter. Alliancebernstein L.P. now owns 5,659,990 shares of the company's stock valued at $593,733,000 after purchasing an additional 2,871,232 shares during the period. T. Rowe Price Investment Management Inc. grew its position 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 during the period. JPMorgan Chase & Co. grew its position 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 during the period. Finally, Scge Management L.P. grew its position in shares of Reddit by 121.1% in the 1st quarter. Scge Management L.P. now owns 1,612,000 shares of the company's stock valued at $169,099,000 after purchasing an additional 883,000 shares during the period.

Insider Buying and Selling

In other news, CAO Michelle Marie Reynolds sold 3,214 shares of the stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $217.69, for a total value of $699,655.66. Following the completion of the sale, the chief accounting officer owned 28,088 shares of the company's stock, valued at approximately $6,114,476.72. This represents a 10.27% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Jennifer L. Wong sold 30,741 shares of the stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $257.28, for a total value 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. The trade was a 2.32% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 397,834 shares of company stock worth $86,512,599 in the last quarter. 34.25% of the stock is owned by company insiders.

Reddit Trading Up 4.8%

NYSE RDDT opened at $211.90 on Friday. The company has a market cap of $39.66 billion, a PE ratio of 192.64, a PEG ratio of 3.09 and a beta of 2.23. Reddit Inc. has a 12 month low of $69.30 and a 12 month high of $282.95. The stock has a 50 day moving average of $229.08 and a 200-day moving average of $158.75.

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

Wall Street Analyst Weigh In

Several brokerages recently issued reports on RDDT. Wall Street Zen upgraded Reddit from a "hold" rating to a "buy" rating in a research report on Sunday, September 7th. Weiss Ratings reiterated a "hold (c-)" rating on shares of Reddit in a research report on Wednesday. Jefferies Financial Group raised their price target on shares of Reddit from $230.00 to $300.00 and gave the stock a "buy" rating in a research note on Wednesday, September 10th. Loop Capital lowered their price objective on shares of Reddit from $210.00 to $200.00 and set a "buy" rating on the stock in a report on Thursday, June 12th. Finally, The Goldman Sachs Group reiterated a "neutral" rating and issued a $212.00 price objective on shares of Reddit in a report on Friday, August 1st. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $203.92.

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.

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