Reddit Inc. $RDDT Shares Acquired by Armistice Capital LLC

Armistice Capital LLC increased its holdings in Reddit Inc. (NYSE:RDDT) by 89.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,000 shares of the company’s stock after buying an additional 17,000 shares during the quarter. Armistice Capital LLC’s holdings in Reddit were worth $3,776,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in RDDT. CWM LLC grew its stake in shares of Reddit by 100.0% in the first 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 Reddit in the first quarter worth about $31,000. Canton Hathaway LLC acquired a new stake in Reddit in the first quarter worth about $43,000. Olde Wealth Management LLC bought a new position in Reddit in the 1st quarter valued at about $46,000. Finally, Fourth Dimension Wealth LLC acquired a new position in Reddit during the 4th quarter valued at about $49,000.

Reddit Price Performance

RDDT stock opened at $225.28 on Monday. Reddit Inc. has a 52-week low of $55.25 and a 52-week high of $253.14. The company’s 50 day simple moving average is $178.21 and its 200-day simple moving average is $141.21. The firm has a market capitalization of $42.16 billion, a P/E ratio of 204.80, a P/E/G ratio of 3.57 and a beta of 2.38.

Reddit (NYSE:RDDT) last issued its earnings results on Thursday, July 31st. The company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.20 by $0.25. The business had revenue of $499.63 million during the quarter, compared to analysts’ expectations of $424.07 million. Reddit had a return on equity of 9.93% and a net margin of 12.97%.Reddit’s revenue was up 77.9% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.06) earnings per share. Reddit has set its Q3 2025 guidance at EPS. Sell-side analysts predict that Reddit Inc. will post 1.12 EPS for the current fiscal year.

Insiders Place Their Bets

In other Reddit news, CEO Steve Ladd Huffman sold 124,409 shares of Reddit stock in a transaction on Monday, June 16th. The shares were sold at an average price of $124.45, for a total transaction of $15,482,700.05. Following the completion of the sale, the chief executive officer owned 546,133 shares of the company’s stock, valued at $67,966,251.85. This trade represents a 18.55% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CTO Christopher Brian Slowe sold 28,000 shares of the company’s stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $218.94, for a total transaction of $6,130,320.00. Following the completion of the transaction, the chief technology officer directly owned 222,534 shares in the company, valued at $48,721,593.96. This trade represents a 11.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 468,777 shares of company stock worth $78,225,996 over the last quarter. Company insiders own 34.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. The Goldman Sachs Group restated a “neutral” rating and set a $212.00 price target on shares of Reddit in a research report on Friday, August 1st. Argus began coverage on Reddit in a research note on Monday, August 18th. They set a “buy” rating and a $250.00 price target for the company. Wolfe Research upgraded Reddit to an “outperform” rating in a research report on Sunday, August 3rd. Loop Capital cut their price objective on Reddit from $210.00 to $200.00 and set a “buy” rating for the company in a report on Thursday, June 12th. Finally, Roth Capital raised their target price on Reddit from $130.00 to $145.00 and gave the company a “neutral” rating in a research note on Monday, July 21st. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Reddit presently has an average rating of “Moderate Buy” and an average price target of $175.38.

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.