West Tower Group LLC bought a new position in shares of Reddit Inc. (NYSE:RDDT - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 4,700 shares of the company's stock, valued at approximately $708,000. Reddit makes up 1.5% of West Tower Group LLC's holdings, making the stock its 17th largest position.
Other institutional investors have also recently modified their holdings of the company. Congress Park Capital LLC grew its holdings in Reddit by 2.0% during the second quarter. Congress Park Capital LLC now owns 3,885 shares of the company's stock worth $585,000 after acquiring an additional 76 shares during the period. Platinum Investment Management Ltd. lifted its holdings in Reddit by 4.3% in the second quarter. Platinum Investment Management Ltd. now owns 2,322 shares of the company's stock valued at $350,000 after acquiring an additional 95 shares during the period. Signaturefd LLC boosted its position in shares of Reddit by 3.5% during the 1st quarter. Signaturefd LLC now owns 2,859 shares of the company's stock worth $300,000 after purchasing an additional 97 shares in the last quarter. CWM LLC grew its stake in shares of Reddit by 100.0% during the 1st quarter. CWM LLC now owns 256 shares of the company's stock worth $27,000 after purchasing an additional 128 shares during the period. Finally, Northwestern Mutual Wealth Management Co. grew its stake in shares of Reddit by 12.5% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 1,323 shares of the company's stock worth $139,000 after purchasing an additional 147 shares during the period.
Insiders Place Their Bets
In other news, COO Jennifer L. Wong sold 40,967 shares of the firm's stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $220.38, for a total transaction of $9,028,307.46. Following the sale, the chief operating officer owned 120,033 shares in the company, valued at $26,452,872.54. This trade represents a 25.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CTO Christopher Brian Slowe sold 28,000 shares of Reddit stock in a transaction 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 directly owned 222,534 shares of the company's stock, valued at approximately $48,721,593.96. This represents a 11.18% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 382,500 shares of company stock worth $86,159,231. 34.25% of the stock is owned by company insiders.
Reddit Price Performance
RDDT stock opened at $195.00 on Monday. The company's 50 day simple moving average is $228.39 and its 200-day simple moving average is $163.13. The firm has a market capitalization of $36.50 billion, a PE ratio of 177.27, a P/E/G ratio of 2.98 and a beta of 2.23. Reddit Inc. has a 12 month low of $76.42 and a 12 month high of $282.95.
Reddit (NYSE:RDDT - Get Free Report) last released its quarterly earnings results 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 company had revenue of $499.63 million during the quarter, compared to analysts' expectations of $424.07 million. Reddit had a return on equity of 9.93% and a net margin of 12.97%.The business's revenue for the quarter was up 77.9% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.06) earnings per share. Reddit has set its Q3 2025 guidance at EPS. As a group, sell-side analysts anticipate that Reddit Inc. will post 1.12 earnings per share for the current year.
Wall Street Analyst Weigh In
Several brokerages recently commented on RDDT. Roth Capital raised their price objective on shares of Reddit from $130.00 to $145.00 and gave the company a "neutral" rating in a research note on Monday, July 21st. Wells Fargo & Company increased their target price on shares of Reddit from $155.00 to $174.00 and gave the company a "cautious" rating in a report on Tuesday, October 7th. Wolfe Research upgraded shares of Reddit to an "outperform" rating in a research report on Sunday, August 3rd. Argus began coverage on Reddit in a research note on Monday, August 18th. They set a "buy" rating and a $250.00 price target on the stock. Finally, Wall Street Zen raised Reddit from a "hold" rating to a "buy" rating in a research note on Sunday, September 7th. 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 issued a Sell rating to the company's stock. According to data from MarketBeat.com, Reddit currently has an average rating of "Moderate Buy" and a consensus price target of $209.50.
Read Our Latest Analysis on RDDT
About Reddit
(
Free Report)
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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