Reddit Inc. $RDDT Shares Sold by R Squared Ltd

R Squared Ltd cut its position in shares of Reddit Inc. (NYSE:RDDT) by 2.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,759 shares of the company’s stock after selling 107 shares during the quarter. R Squared Ltd’s holdings in Reddit were worth $717,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of RDDT. CWM LLC increased its position in 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 in the last quarter. Stone House Investment Management LLC acquired a new stake in shares of Reddit in the first quarter worth $31,000. Financial Perspectives Inc purchased a new position in shares of Reddit in the 2nd quarter valued at $34,000. Geneos Wealth Management Inc. raised its stake in shares of Reddit by 344.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 369 shares of the company’s stock valued at $39,000 after acquiring an additional 286 shares during the period. Finally, Olde Wealth Management LLC acquired a new position in shares of Reddit during the 1st quarter valued at $46,000.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Royal Bank Of Canada reiterated a “sector perform” rating on shares of Reddit in a report on Wednesday, October 1st. Bank of America raised their target price on Reddit from $130.00 to $150.00 and gave the company a “neutral” rating in a report on Wednesday, July 30th. Guggenheim lifted their target price on Reddit from $165.00 to $215.00 and gave the stock a “buy” rating in a research report on Friday, August 1st. Sanford C. Bernstein set a $190.00 price target on Reddit and gave the company a “market perform” rating in a report on Thursday. Finally, Truist Financial raised their price objective on Reddit from $225.00 to $260.00 and gave the company a “buy” rating in a research note on Wednesday, October 15th. Two equities research 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 issued a Sell rating to the stock. Based on data from MarketBeat.com, Reddit has a consensus rating of “Moderate Buy” and an average target price of $217.50.

Reddit Stock Up 1.9%

Shares of NYSE:RDDT opened at $200.78 on Friday. The company’s 50-day moving average price is $226.05 and its 200 day moving average price is $165.20. The company has a market cap of $37.58 billion, a PE ratio of 182.53, a P/E/G ratio of 3.01 and a beta of 2.23. Reddit Inc. has a fifty-two week low of $77.14 and a fifty-two week high of $282.95.

Reddit (NYSE:RDDT) last announced its quarterly earnings results on Thursday, July 31st. The company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.20 by $0.25. The company 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%. Reddit’s revenue was up 77.9% compared to the same quarter last year. During the same quarter last year, the business earned ($0.06) earnings per share. Reddit has set its Q3 2025 guidance at EPS. As a group, equities analysts anticipate that Reddit Inc. will post 1.12 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Andrew Vollero sold 30,000 shares of the stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $218.09, for a total value of $6,542,700.00. Following the completion of the transaction, the chief financial officer owned 284,168 shares of the company’s stock, valued at approximately $61,974,199.12. This represents a 9.55% 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 40,967 shares of Reddit stock in a transaction dated Friday, August 22nd. The shares were 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 approximately $26,452,872.54. This represents a 25.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 366,500 shares of company stock worth $83,829,951. 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.