Reddit Inc. $RDDT Shares Sold by Waterway Wealth Management LLC

Waterway Wealth Management LLC lessened its stake in shares of Reddit Inc. (NYSE:RDDT) by 74.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,685 shares of the company’s stock after selling 4,954 shares during the period. Waterway Wealth Management LLC’s holdings in Reddit were worth $227,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the stock. Huntington National Bank grew its holdings in shares of Reddit by 25.6% during the third quarter. Huntington National Bank now owns 270 shares of the company’s stock valued at $62,000 after buying an additional 55 shares during the last quarter. Institute for Wealth Management LLC. raised its stake in Reddit by 6.1% in the 4th quarter. Institute for Wealth Management LLC. now owns 1,071 shares of the company’s stock worth $246,000 after acquiring an additional 62 shares during the last quarter. Roxbury Financial LLC lifted its position in Reddit by 7.4% during the 4th quarter. Roxbury Financial LLC now owns 929 shares of the company’s stock worth $214,000 after acquiring an additional 64 shares during the period. Florida Financial Advisors LLC lifted its position in Reddit by 6.7% during the 4th quarter. Florida Financial Advisors LLC now owns 1,087 shares of the company’s stock worth $250,000 after acquiring an additional 68 shares during the period. Finally, Diversified Trust Co grew its stake in Reddit by 2.1% during the 1st quarter. Diversified Trust Co now owns 3,271 shares of the company’s stock valued at $440,000 after purchasing an additional 68 shares during the last quarter.

Reddit Stock Down 1.8%

Reddit stock opened at $157.82 on Friday. The business’s 50-day moving average price is $162.33 and its 200 day moving average price is $173.60. The firm has a market cap of $30.38 billion, a price-to-earnings ratio of 45.09 and a beta of 1.91. Reddit Inc. has a 52 week low of $119.27 and a 52 week high of $282.95.

Reddit (NYSE:RDDT) last announced its quarterly earnings results on Thursday, April 30th. The company reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.39. Reddit had a return on equity of 25.48% and a net margin of 28.60%.The company had revenue of $663.41 million during the quarter, compared to the consensus estimate of $607.74 million. During the same period in the previous year, the company posted $0.13 earnings per share. Reddit’s revenue for the quarter was up 69.1% on a year-over-year basis. Equities analysts expect that Reddit Inc. will post 4.83 EPS for the current year.

Insider Activity

In related news, CTO Christopher Brian Slowe sold 15,500 shares of the firm’s stock in a transaction on Wednesday, April 8th. The shares were sold at an average price of $150.67, for a total transaction of $2,335,385.00. Following the sale, the chief technology officer owned 38,413 shares in the company, valued at approximately $5,787,686.71. This trade represents a 28.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Steve Ladd Huffman sold 18,000 shares of Reddit stock in a transaction on Tuesday, March 31st. The shares were sold at an average price of $132.77, for a total transaction of $2,389,860.00. Following the completion of the transaction, the chief executive officer directly owned 411,195 shares of the company’s stock, valued at $54,594,360.15. The trade was a 4.19% 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. Insiders sold a total of 241,000 shares of company stock valued at $39,303,645 in the last three months. 28.48% of the stock is currently owned by corporate insiders.

More Reddit News

Here are the key news stories impacting Reddit this week:

• Positive Sentiment: Needham reaffirmed its Buy rating on Reddit and raised its price target to $300, implying meaningful upside if the company continues executing on growth and monetization. Benzinga report on Needham rating
• Positive Sentiment: Yahoo Finance highlighted Reddit’s push toward 1 billion users and said improving profitability could open new opportunities in advertising and AI-related monetization. Yahoo Finance article
• Positive Sentiment: Analysts and market coverage continue to describe Reddit as a moderate buy, suggesting Wall Street still sees room for growth despite recent volatility. American Banking News article
• Neutral Sentiment: Reddit is getting broader public attention, including a Zacks note saying the stock has been drawing unusually heavy interest from users and investors lately. Zacks article
• Negative Sentiment: Technical commentary suggests the stock’s recent selloff may still be in play, with one analysis saying the $166 support level could determine whether downside has gone too far. Investing.com article

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on RDDT shares. Bank of America cut their price objective on Reddit from $205.00 to $175.00 and set a “neutral” rating on the stock in a report on Thursday, April 2nd. Jefferies Financial Group dropped their target price on Reddit from $285.00 to $250.00 and set a “buy” rating on the stock in a research report on Tuesday, March 10th. Citigroup reiterated a “market outperform” rating on shares of Reddit in a report on Tuesday, May 26th. Zacks Research lowered shares of Reddit from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, June 3rd. Finally, Raymond James Financial set a $180.00 price target on shares of Reddit and gave the stock a “market perform” rating in a research report on Friday, May 1st. Eighteen analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Reddit presently has a consensus rating of “Moderate Buy” and an average target price of $230.75.

Reddit Company 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.