Reddit Inc. $RDDT Shares Purchased by Kestra Advisory Services LLC

Kestra Advisory Services LLC increased its stake in Reddit Inc. (NYSE:RDDT) by 48.2% during the 3rd quarter, Holdings Channel.com reports. The fund owned 33,548 shares of the company’s stock after buying an additional 10,908 shares during the period. Kestra Advisory Services LLC’s holdings in Reddit were worth $4,779,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Senvest Management LLC purchased a new stake in Reddit during the first quarter valued at about $48,392,000. Robeco Institutional Asset Management B.V. lifted its stake in shares of Reddit by 74.6% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 809,063 shares of the company’s stock valued at $115,243,000 after purchasing an additional 345,735 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Reddit by 21.8% during the 2nd quarter. Wellington Management Group LLP now owns 1,564,535 shares of the company’s stock worth $271,572,000 after purchasing an additional 280,030 shares during the period. Styrax Capital LP acquired a new stake in Reddit during the 2nd quarter worth approximately $43,395,000. Finally, State Street Corp lifted its position in Reddit by 8.7% during the second quarter. State Street Corp now owns 2,979,587 shares of the company’s stock valued at $517,197,000 after buying an additional 237,523 shares in the last quarter.

Insider Buying and Selling

In other news, Director Robert A. Sauerberg sold 5,128 shares of the business’s stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $159.92, for a total transaction of $820,069.76. Following the completion of the transaction, the director owned 27,087 shares of the company’s stock, valued at approximately $4,331,753.04. The trade was a 15.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Mary Gale sold 4,000 shares of the business’s stock in a transaction on Friday, November 6th. The shares were sold at an average price of $96.00, for a total transaction of $384,000.00. Following the transaction, the director directly owned 11,181 shares of the company’s stock, valued at approximately $1,073,376. This trade represents a 26.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 202,052 shares of company stock valued at $30,952,353 over the last three months. 28.48% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts recently weighed in on RDDT shares. Sanford C. Bernstein restated a “market perform” rating and set a $120.00 target price (down from $180.00) on shares of Reddit in a report on Friday, October 30th. Jefferies Financial Group dropped their price objective on shares of Reddit from $200.00 to $155.00 in a research note on Friday, October 30th. Citigroup downgraded shares of Reddit from a “market outperform” rating to a “market perform” rating in a research note on Friday, October 30th. Telsey Advisory Group set a $240.00 price objective on shares of Reddit in a report on Friday, July 31st. Finally, Cantor Fitzgerald dropped their target price on Reddit from $170.00 to $120.00 and set a “neutral” rating on the stock in a research report on Friday, October 30th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and fifteen have given a Hold rating to the stock. Based on data from MarketBeat.com, Reddit currently has an average rating of “Moderate Buy” and an average target price of $175.45.

Trending Headlines about Reddit

Here are a few of the latest headlines about RDDT:

• Neutral Sentiment: Argus lowered its price target to $150 from $225 but kept a Buy rating. The cut signals reduced expectations, while the maintained rating indicates the firm still sees potential upside.
• Neutral Sentiment: CEO Steve Huffman described AI as a double-edged issue: Reddit’s community content may be valuable to AI services, but AI-generated search summaries can also divert users away from Reddit. Reddit CEO Steve Huffman explains the paradox of AI for his company
• Negative Sentiment: Similarweb data showed Reddit traffic down 13% year over year. Huffman has said Google’s AI Overviews have eaten into search traffic, raising concerns about user acquisition and the platform’s reliance on referrals. Reddit’s traffic is down 13%, thanks to Google’s AI Overviews

Reddit Trading Down 5.8%

Shares of NYSE RDDT opened at $99.52 on Friday. Reddit Inc. has a twelve month low of $89.28 and a twelve month high of $263.50. The company has a market capitalization of $19.22 billion, a price-to-earnings ratio of 21.56, a price-to-earnings-growth ratio of 0.43 and a beta of 2.28. The business has a 50 day simple moving average of $140.41 and a 200-day simple moving average of $154.40.

Reddit (NYSE:RDDT) last released its earnings results on Thursday, October 29th. The company reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.33 by $0.07. Reddit had a net margin of 32.10% and a return on equity of 30.57%. The firm had revenue of $894.96 million during the quarter, compared to analyst estimates of $874.91 million. During the same quarter in the previous year, the firm earned $0.80 earnings per share. The firm’s revenue for the quarter was up 53.0% compared to the same quarter last year. As a group, equities analysts predict that Reddit Inc. will post 5.42 earnings per share for the current year.

Reddit Company Profile

Reddit, Inc. operates Reddit, an online platform where users share posts, discuss topics and participate in communities known as subreddits. Members can submit text, images, videos and links, comment on posts, and vote on content, helping shape what appears in each community. The company generates revenue primarily through advertising and also offers paid subscriptions and other products. Reddit serves users and advertisers around the world through its website and mobile applications. Reddit was founded in 2005 by Steve Huffman, Alexis Ohanian and Aaron Swartz.