Wolff Wiese Magana LLC Has $233,000 Holdings in Reddit Inc. $RDDT

Key Points

• Wolff Wiese Magana LLC increased its holdings in Reddit Inc. by an astounding 77,200.0% during Q2, valuing the holdings at $233,000 at the end of the period.
• Reddit reported earnings of $0.45 per share for the quarter, significantly exceeding the consensus estimate of $0.20, with revenue rising 77.9% year-over-year.
• Analysts are bullish on Reddit's stock, with many upgrades and revised price targets, including JMP Securities raising their target from $225 to $300.

Wolff Wiese Magana LLC grew its holdings in shares of Reddit Inc. (NYSE:RDDT - Free Report) by 77,200.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,546 shares of the company's stock after purchasing an additional 1,544 shares during the period. Wolff Wiese Magana LLC's holdings in Reddit were worth $233,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. GC Wealth Management RIA LLC acquired a new position in shares of Reddit during the 2nd quarter worth approximately $7,974,000. GraniteShares Advisors LLC acquired a new position in shares of Reddit during the 2nd quarter worth approximately $553,000. WD Rutherford LLC grew its position in shares of Reddit by 14.4% during the 2nd quarter. WD Rutherford LLC now owns 2,470 shares of the company's stock worth $372,000 after purchasing an additional 310 shares in the last quarter. Signaturefd LLC grew its position in shares of Reddit by 12.5% during the 2nd quarter. Signaturefd LLC now owns 3,215 shares of the company's stock worth $484,000 after purchasing an additional 356 shares in the last quarter. Finally, Beaumont Financial Advisors LLC grew its position in shares of Reddit by 25.3% during the 2nd quarter. Beaumont Financial Advisors LLC now owns 6,672 shares of the company's stock worth $1,005,000 after purchasing an additional 1,346 shares in the last quarter.

Reddit Price Performance

Shares of NYSE:RDDT opened at $240.37 on Monday. The firm has a 50 day simple moving average of $217.83 and a 200 day simple moving average of $153.38. The company has a market cap of $44.99 billion, a price-to-earnings ratio of 218.52, a PEG ratio of 3.78 and a beta of 2.38. Reddit Inc. has a one year low of $64.51 and a one year 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 (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.25. The firm had revenue of $499.63 million during the quarter, compared to the consensus estimate of $424.07 million. Reddit had a net margin of 12.97% and a return on equity of 9.93%. The company's revenue for the quarter was up 77.9% on a year-over-year basis. During the same quarter last year, the firm earned ($0.06) earnings per share. Reddit has set its Q3 2025 guidance at EPS. As a group, analysts expect that Reddit Inc. will post 1.12 EPS for the current year.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Wall Street Zen raised shares of Reddit from a "hold" rating to a "buy" rating in a report on Sunday, September 7th. JMP Securities upped their price target on shares of Reddit from $225.00 to $300.00 and gave the stock a "market outperform" rating in a report on Thursday, September 18th. Cannonball Research reaffirmed a "buy" rating on shares of Reddit in a report on Tuesday, September 23rd. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $210.00 price target on shares of Reddit in a report on Friday, August 22nd. 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 report on Tuesday, September 16th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Reddit has an average rating of "Moderate Buy" and a consensus target price of $201.58.

Insider Buying and Selling at Reddit

In other news, CTO Christopher Brian Slowe sold 28,000 shares of the firm's stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $218.94, for a total transaction of $6,130,320.00. Following the completion of the transaction, the chief technology officer owned 222,534 shares of the company's stock, valued at approximately $48,721,593.96. This trade represents a 11.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Steve Ladd Huffman sold 18,000 shares of Reddit stock in a transaction on Friday, August 29th. The stock was sold at an average price of $223.41, for a total transaction of $4,021,380.00. Following the transaction, the chief executive officer directly owned 494,104 shares of the company's stock, valued at $110,387,774.64. This represents a 3.51% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 379,834 shares of company stock worth $82,388,799 over the last ninety days. Insiders own 34.25% of the company's stock.

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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