Reddit Inc. $RDDT Position Decreased by Driehaus Capital Management LLC

Driehaus Capital Management LLC decreased its holdings in shares of Reddit Inc. (NYSE:RDDT) by 6.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 163,862 shares of the company’s stock after selling 10,406 shares during the period. Driehaus Capital Management LLC owned approximately 0.09% of Reddit worth $17,189,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the business. Canada Pension Plan Investment Board bought a new position in shares of Reddit during the 1st quarter valued at about $17,529,000. WPG Advisers LLC bought a new position in shares of Reddit during the 1st quarter valued at about $74,000. Siren L.L.C. bought a new position in shares of Reddit during the 1st quarter valued at about $2,465,000. OMERS ADMINISTRATION Corp boosted its position in shares of Reddit by 90.9% during the 1st quarter. OMERS ADMINISTRATION Corp now owns 4,200 shares of the company’s stock valued at $441,000 after purchasing an additional 2,000 shares in the last quarter. Finally, Silvant Capital Management LLC boosted its position in shares of Reddit by 239.5% during the 1st quarter. Silvant Capital Management LLC now owns 28,050 shares of the company’s stock valued at $2,942,000 after purchasing an additional 19,788 shares in the last quarter.

Wall Street Analysts Forecast Growth

RDDT has been the subject of a number of analyst reports. Seaport Res Ptn raised shares of Reddit from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 5th. Wolfe Research raised shares of Reddit to an “outperform” rating in a research note on Sunday, August 3rd. Argus initiated coverage on shares of Reddit in a research note on Monday, August 18th. They set a “buy” rating and a $250.00 price objective for the company. Guggenheim upped their price objective on shares of Reddit from $165.00 to $215.00 and gave the company a “buy” rating in a research note on Friday, August 1st. Finally, Wells Fargo & Company upped their price objective on shares of Reddit from $115.00 to $118.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 1st. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $175.38.

Reddit Stock Performance

Shares of RDDT opened at $225.28 on Friday. The firm has a market cap of $42.16 billion, a PE ratio of 204.80, a PEG ratio of 3.58 and a beta of 2.30. The firm’s 50 day moving average price is $178.21 and its 200 day moving average price is $142.18. Reddit Inc. has a twelve month low of $55.25 and a twelve month high of $253.14.

Reddit (NYSE:RDDT) last issued its quarterly earnings data on Thursday, July 31st. The company reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.25. The firm had revenue of $499.63 million for the quarter, compared to analyst estimates 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. On average, sell-side analysts anticipate that Reddit Inc. will post 1.12 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Reddit news, CEO Steve Ladd Huffman sold 124,409 shares of the stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $124.45, for a total transaction of $15,482,700.05. Following the transaction, the chief executive officer owned 546,133 shares in the company, valued at $67,966,251.85. This trade represents a 18.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Jennifer L. Wong sold 40,967 shares of the stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $220.38, for a total value of $9,028,307.46. Following the transaction, the chief operating officer owned 120,033 shares in the company, valued at approximately $26,452,872.54. This trade represents a 25.45% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 468,777 shares of company stock worth $78,225,996. 34.25% of the stock is currently owned by company insiders.

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.