Ritholtz Wealth Management Purchases Shares of 1,800 Reddit Inc. $RDDT

Ritholtz Wealth Management purchased a new stake in Reddit Inc. (NYSE:RDDT) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 1,800 shares of the company’s stock, valued at approximately $271,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. CWM LLC raised its stake in Reddit by 100.0% in the first quarter. CWM LLC now owns 256 shares of the company’s stock valued at $27,000 after buying an additional 128 shares during the last quarter. Stone House Investment Management LLC purchased a new stake in Reddit in the first quarter valued at about $31,000. Geneos Wealth Management Inc. raised its stake in Reddit by 344.6% in the first quarter. Geneos Wealth Management Inc. now owns 369 shares of the company’s stock valued at $39,000 after buying an additional 286 shares during the last quarter. Olde Wealth Management LLC purchased a new stake in Reddit in the first quarter valued at about $46,000. Finally, Western Pacific Wealth Management LP purchased a new stake in Reddit in the second quarter valued at about $60,000.

Reddit Stock Up 1.5%

Reddit stock opened at $205.60 on Wednesday. The firm has a market cap of $38.48 billion, a price-to-earnings ratio of 186.91, a price-to-earnings-growth ratio of 3.09 and a beta of 2.23. Reddit Inc. has a 52 week low of $76.54 and a 52 week high of $282.95. The business’s 50-day moving average price is $227.66 and its 200 day moving average price is $164.23.

Reddit (NYSE:RDDT) last posted 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 firm had revenue of $499.63 million for the quarter, compared to analyst estimates of $424.07 million. Reddit had a return on equity of 9.93% and a net margin of 12.97%.Reddit’s revenue for the quarter was up 77.9% compared to the same quarter last year. During the same period last year, the company earned ($0.06) earnings per share. Reddit has set its Q3 2025 guidance at EPS. Equities analysts expect that Reddit Inc. will post 1.12 EPS for the current year.

Insider Buying and Selling

In other Reddit news, CEO Steve Ladd Huffman sold 18,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $200.53, for a total value of $3,609,540.00. Following the sale, the chief executive officer directly owned 494,104 shares of the company’s stock, valued at approximately $99,082,675.12. This trade represents a 3.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Andrew Vollero sold 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $218.09, for a total value of $6,542,700.00. Following the completion of the sale, the chief financial officer directly owned 284,168 shares in the company, valued at approximately $61,974,199.12. The trade was a 9.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 366,500 shares of company stock valued at $83,829,951 in the last three months. 34.25% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Royal Bank Of Canada restated a “sector perform” rating on shares of Reddit in a research note on Wednesday, October 1st. Morgan Stanley raised their price objective on Reddit from $170.00 to $230.00 and gave the stock an “overweight” rating in a research note on Friday, August 1st. The Goldman Sachs Group restated a “neutral” rating and issued a $236.00 price objective on shares of Reddit in a research note on Tuesday, October 14th. Sanford C. Bernstein raised their price objective on Reddit from $130.00 to $150.00 and gave the stock a “market perform” rating in a research note on Tuesday, July 22nd. Finally, Jefferies Financial Group raised their price objective on Reddit from $230.00 to $300.00 and gave the stock a “buy” rating in a research note on Wednesday, September 10th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, ten have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Reddit presently has a consensus rating of “Moderate Buy” and a consensus price target of $214.17.

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.