Momentum Wealth Planning LLC Grows Stake in Reddit Inc. $RDDT

Momentum Wealth Planning LLC increased its position in shares of Reddit Inc. (NYSE:RDDT) by 203.1% in the 1st quarter, HoldingsChannel.com reports. The firm owned 15,338 shares of the company’s stock after acquiring an additional 10,278 shares during the period. Reddit accounts for 1.8% of Momentum Wealth Planning LLC’s holdings, making the stock its 14th biggest position. Momentum Wealth Planning LLC’s holdings in Reddit were worth $2,065,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Truist Financial Corp grew its stake in Reddit by 67.7% in the 4th quarter. Truist Financial Corp now owns 15,659 shares of the company’s stock valued at $3,600,000 after acquiring an additional 6,321 shares during the last quarter. Swiss Life Asset Management Ltd raised its position in Reddit by 63.2% during the fourth quarter. Swiss Life Asset Management Ltd now owns 32,003 shares of the company’s stock worth $7,357,000 after acquiring an additional 12,398 shares during the last quarter. Calamos Advisors LLC purchased a new stake in shares of Reddit in the fourth quarter valued at about $2,299,000. Handelsbanken Fonder AB lifted its holdings in shares of Reddit by 22.9% in the fourth quarter. Handelsbanken Fonder AB now owns 37,000 shares of the company’s stock valued at $8,505,000 after purchasing an additional 6,900 shares in the last quarter. Finally, Berkshire Capital Holdings Inc. grew its position in shares of Reddit by 326,400.0% in the fourth quarter. Berkshire Capital Holdings Inc. now owns 32,650 shares of the company’s stock valued at $7,505,000 after purchasing an additional 32,640 shares during the last quarter.

Reddit Price Performance

NYSE:RDDT opened at $181.91 on Friday. The firm has a 50 day simple moving average of $172.78 and a 200-day simple moving average of $169.74. The firm has a market cap of $35.02 billion, a PE ratio of 51.97 and a beta of 1.93. Reddit Inc. has a 1-year low of $119.27 and a 1-year high of $282.95.

Reddit (NYSE:RDDT) last announced its quarterly earnings data on Thursday, April 30th. The company reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.39. Reddit had a net margin of 28.60% and a return on equity of 25.48%. The business had revenue of $663.41 million for the quarter, compared to the consensus estimate of $607.74 million. During the same quarter in the prior year, the firm posted $0.13 earnings per share. The company’s quarterly revenue was up 69.1% compared to the same quarter last year. As a group, sell-side analysts expect that Reddit Inc. will post 4.85 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. Truist Financial set a $265.00 price objective on shares of Reddit in a research note on Friday, May 1st. Oppenheimer reaffirmed an “outperform” rating and issued a $225.00 target price on shares of Reddit in a research note on Friday, May 1st. Needham & Company LLC reiterated a “buy” rating and set a $300.00 target price on shares of Reddit in a report on Wednesday, June 24th. Raymond James Financial set a $180.00 price target on Reddit and gave the stock a “market perform” rating in a research report on Friday, May 1st. Finally, Citizens Jmp cut their price target on Reddit from $250.00 to $240.00 and set a “market outperform” rating for the company in a report on Friday, May 1st. Nineteen research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $231.79.

Reddit News Roundup

Here are the key news stories impacting Reddit this week:

• Positive Sentiment: Wedbush initiated coverage on Reddit with an Outperform rating and a $250 price target, signaling strong confidence in the company’s long-term monetization potential. Benzinga article on Wedbush coverage
• Positive Sentiment: Analysts highlighted Reddit’s AI initiative, including partnerships, platform upgrades, and ad tools, as a growing driver of revenue and engagement. Zacks article on Reddit AI initiative
• Positive Sentiment: Jefferies said Reddit could beat second-quarter revenue and EBITDA expectations thanks to strong ad checks and improving user growth, which would support the bullish earnings narrative. Proactive Investors article on earnings beat potential
• Positive Sentiment: Several reports suggested Reddit stock may be undervalued relative to its AI and ad-growth outlook, with one piece citing as much as 47% upside based on those themes. Yahoo Finance article on undervaluation
• Neutral Sentiment: One article noted that analysts are still mixed on Reddit and other communication-services names, suggesting the stock may remain volatile as sentiment varies. The Globe and Mail article on conflicted analysts
• Negative Sentiment: Reddit also saw coverage around a recent selloff and questions about why the stock fell more than the broader market, indicating some traders are still taking profits after a strong run. Zacks article on recent decline

Insider Buying and Selling at Reddit

In other Reddit news, CAO Michelle Marie Reynolds sold 808 shares of the stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $200.00, for a total transaction of $161,600.00. Following the transaction, the chief accounting officer owned 15,060 shares of the company’s stock, valued at $3,012,000. This represents a 5.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Steve Ladd Huffman sold 18,000 shares of the firm’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $178.26, for a total value of $3,208,680.00. Following the sale, the chief executive officer owned 373,814 shares in the company, valued at $66,636,083.64. This trade represents a 4.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 169,141 shares of company stock worth $28,680,845. Insiders own 28.48% of the company’s stock.

Reddit Profile

Reddit is an online social news aggregation, discussion and content-sharing platform organized around user-created communities called “subreddits,” each focused on a particular topic or interest. Registered users submit links, text posts, images and video, and community members vote and comment to surface popular content. The site is accessed via its web platform and mobile apps for iOS and Android, and it supports live events such as Ask Me Anything (AMA) sessions and community-driven discussions.

Founded in 2005 by Steve Huffman and Alexis Ohanian, Reddit is headquartered in San Francisco and serves a global audience with particularly large user bases in the United States and other English-speaking markets.