Private Trust Co. NA Invests $310,000 in Reddit Inc. $RDDT

Private Trust Co. NA bought a new position in Reddit Inc. (NYSE:RDDT) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 2,058 shares of the company’s stock, valued at approximately $310,000.

Several other hedge funds also recently made changes to their positions in the company. Nordea Investment Management AB lifted its stake in shares of Reddit by 21,703.0% in the 2nd quarter. Nordea Investment Management AB now owns 1,060,935 shares of the company’s stock worth $164,021,000 after acquiring an additional 1,056,069 shares during the period. Ritholtz Wealth Management acquired a new stake in shares of Reddit in the 2nd quarter worth $271,000. Harbour Investments Inc. lifted its stake in shares of Reddit by 15.5% in the 2nd quarter. Harbour Investments Inc. now owns 4,339 shares of the company’s stock worth $653,000 after acquiring an additional 583 shares during the period. J.Safra Asset Management Corp lifted its stake in shares of Reddit by 21.5% in the 2nd quarter. J.Safra Asset Management Corp now owns 1,929 shares of the company’s stock worth $276,000 after acquiring an additional 341 shares during the period. Finally, Concord Wealth Partners acquired a new stake in shares of Reddit in the 2nd quarter worth $148,000.

Wall Street Analyst Weigh In

Several research firms have recently commented on RDDT. Wall Street Zen upgraded shares of Reddit from a “hold” rating to a “buy” rating in a research note on Sunday, September 7th. Citigroup restated an “outperform” rating on shares of Reddit in a research note on Thursday, September 18th. Raymond James Financial reiterated a “strong-buy” rating and issued a $250.00 price objective (up previously from $225.00) on shares of Reddit in a research note on Monday. JMP Securities reiterated a “market outperform” rating and issued a $300.00 price objective on shares of Reddit in a research note on Friday, October 3rd. Finally, Royal Bank Of Canada reiterated a “sector perform” rating on shares of Reddit in a research note on Wednesday, October 1st. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $210.54.

Insider Buying and Selling at Reddit

In other Reddit news, CFO Andrew Vollero sold 30,000 shares of the firm’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $218.09, for a total transaction of $6,542,700.00. Following the completion of the transaction, the chief financial officer directly owned 284,168 shares in the company, valued at approximately $61,974,199.12. This trade represents a 9.55% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Steve Ladd Huffman sold 18,000 shares of the firm’s stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $223.41, for a total transaction of $4,021,380.00. Following the transaction, the chief executive officer owned 494,104 shares of the company’s stock, valued at $110,387,774.64. This trade represents a 3.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 366,500 shares of company stock valued at $83,829,951. Insiders own 34.25% of the company’s stock.

Reddit Trading Up 4.0%

NYSE:RDDT opened at $202.66 on Tuesday. The firm has a 50-day moving average price of $228.03 and a two-hundred day moving average price of $163.94. Reddit Inc. has a twelve month low of $76.54 and a twelve month high of $282.95. The company has a market capitalization of $37.93 billion, a P/E ratio of 184.24, a price-to-earnings-growth ratio of 2.98 and a beta of 2.23.

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

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.