Vident Advisory LLC Trims Stock Holdings in Reddit Inc. $RDDT

Key Points

• Vident Advisory LLC significantly reduced its holdings in Reddit Inc. by 68.1%, now owning 20,288 shares valued at approximately $2.13 million.
• Several institutional investors have shown increasing interest in Reddit, with Stifel Financial Corp acquiring a new stake worth $1.39 million and Northern Trust Corp boosting its stake by 56.5%.
• Wall Street analysts have rated Reddit with a consensus of "Moderate Buy," with target prices ranging from $151.00 to $250.00, reflecting varying perspectives on the stock's potential growth.

Vident Advisory LLC lessened its holdings in Reddit Inc. (NYSE:RDDT - Free Report) by 68.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,288 shares of the company's stock after selling 43,401 shares during the quarter. Vident Advisory LLC's holdings in Reddit were worth $2,128,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Whale Rock Capital Management LLC purchased a new stake in Reddit during the 4th quarter worth about $204,054,000. Vanguard Group Inc. raised its holdings in shares of Reddit by 11.1% during the 1st quarter. Vanguard Group Inc. now owns 10,198,552 shares of the company's stock valued at $1,069,828,000 after buying an additional 1,017,162 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Reddit by 98.2% during the 1st quarter. JPMorgan Chase & Co. now owns 1,907,495 shares of the company's stock valued at $200,096,000 after buying an additional 944,847 shares in the last quarter. Cresset Asset Management LLC raised its holdings in shares of Reddit by 159.6% during the 4th quarter. Cresset Asset Management LLC now owns 1,308,797 shares of the company's stock valued at $213,910,000 after buying an additional 804,591 shares in the last quarter. Finally, Nuveen Asset Management LLC raised its holdings in shares of Reddit by 424.6% during the 4th quarter. Nuveen Asset Management LLC now owns 932,991 shares of the company's stock valued at $152,488,000 after buying an additional 755,152 shares in the last quarter.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Raymond James Financial reaffirmed a "strong-buy" rating and issued a $225.00 price target (up from $175.00) on shares of Reddit in a research note on Friday, August 1st. Wolfe Research upgraded Reddit to an "outperform" rating in a research report on Sunday, August 3rd. Wall Street Zen lowered Reddit from a "buy" rating to a "hold" rating in a research report on Saturday, August 30th. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $210.00 price objective on shares of Reddit in a research report on Friday, August 22nd. 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 research report on Wednesday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $175.38.

Reddit Trading Up 3.5%

Reddit stock traded up $8.08 during mid-day trading on Friday, hitting $240.19. The company had a trading volume of 5,551,228 shares, compared to its average volume of 5,904,451. The stock's 50 day moving average price is $186.96 and its two-hundred day moving average price is $143.13. Reddit Inc. has a 12 month low of $55.25 and a 12 month high of $253.14. The company has a market capitalization of $44.95 billion, a PE ratio of 218.35, a price-to-earnings-growth ratio of 3.68 and a beta of 2.40.

Reddit (NYSE:RDDT - Get Free Report) last released its earnings results on Thursday, July 31st. The company reported $0.45 EPS for the quarter, topping 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 previous year, the company posted ($0.06) earnings per share. The company's revenue for the quarter was up 77.9% compared to the same quarter last year. Reddit has set its Q3 2025 guidance at EPS. Equities research analysts anticipate that Reddit Inc. will post 1.12 EPS for the current year.

Insiders Place Their Bets

In related news, COO Jennifer L. Wong sold 30,806 shares of the company's stock in a transaction on Monday, August 25th. The stock was sold at an average price of $218.55, for a total transaction of $6,732,651.30. Following the completion of the sale, the chief operating officer owned 1,326,709 shares in the company, valued at approximately $289,952,251.95. This represents a 2.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Steve Ladd Huffman sold 18,000 shares of the company's stock in a transaction on Friday, August 29th. The shares were sold at an average price of $223.41, for a total value of $4,021,380.00. Following the sale, the chief executive officer owned 494,104 shares of the company's stock, valued at approximately $110,387,774.64. This trade represents a 3.51% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 516,777 shares of company stock valued at $88,790,076. Company insiders own 34.25% of the company's stock.

Reddit Company 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.