Belpointe Asset Management LLC Acquires Shares of 2,478 Reddit Inc. $RDDT

Belpointe Asset Management LLC acquired a new stake in Reddit Inc. (NYSE:RDDT) in the 2nd quarter, HoldingsChannel reports. The institutional investor acquired 2,478 shares of the company’s stock, valued at approximately $373,000.

Several other institutional investors have also recently bought and sold shares of RDDT. Rhumbline Advisers raised its position in Reddit by 202.7% in the 1st quarter. Rhumbline Advisers now owns 13,682 shares of the company’s stock valued at $1,435,000 after purchasing an additional 9,162 shares during the last quarter. Farther Finance Advisors LLC raised its position in Reddit by 152.0% in the 1st quarter. Farther Finance Advisors LLC now owns 620 shares of the company’s stock valued at $68,000 after purchasing an additional 374 shares during the last quarter. SG Americas Securities LLC bought a new position in Reddit in the 1st quarter valued at $1,206,000. Polianta Ltd bought a new position in Reddit in the 1st quarter valued at $996,000. Finally, Salem Investment Counselors Inc. bought a new position in Reddit in the 1st quarter valued at $559,000.

Insider Buying and Selling

In related news, CEO Steve Ladd Huffman sold 18,000 shares of the company’s stock in a transaction dated Tuesday, September 30th. The stock was sold at an average price of $229.10, for a total value of $4,123,800.00. Following the completion of the sale, the chief executive officer owned 494,104 shares in the company, valued at approximately $113,199,226.40. This represents a 3.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, COO Jennifer L. Wong sold 30,741 shares of the company’s stock in a transaction dated 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 owned 1,295,968 shares of the company’s stock, valued at $333,426,647.04. This represents a 2.32% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 411,834 shares of company stock worth $89,323,939. Company insiders own 34.25% of the company’s stock.

Wall Street Analyst Weigh In

RDDT has been the subject of several research analyst reports. Wolfe Research upgraded Reddit to an “outperform” rating in a research report on Sunday, August 3rd. Robert W. Baird raised their price target on Reddit from $177.00 to $240.00 and gave the company a “neutral” rating in a report on Thursday, September 25th. Raymond James Financial reiterated a “strong-buy” rating and issued a $225.00 price objective (up from $175.00) on shares of Reddit in a research report on Friday, August 1st. Zacks Research lowered Reddit from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 30th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Reddit in a research report on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, ten have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $203.92.

Reddit Trading Down 6.2%

NYSE RDDT opened at $198.67 on Friday. The stock has a 50-day simple moving average of $229.29 and a 200 day simple moving average of $159.25. The company has a market capitalization of $37.18 billion, a PE ratio of 180.61, a P/E/G ratio of 3.23 and a beta of 2.23. Reddit Inc. has a 12 month low of $69.74 and a 12 month high of $282.95.

Reddit (NYSE:RDDT) last released its quarterly earnings data on Thursday, July 31st. The company reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.25. The business 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 was up 77.9% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.06) earnings per share. Reddit has set its Q3 2025 guidance at EPS. As a group, sell-side analysts predict that Reddit Inc. will post 1.12 earnings per share for the current fiscal year.

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.