Wellington Shields Capital Management LLC Invests $4.30 Million in Reddit Inc. $RDDT

Wellington Shields Capital Management LLC bought a new position in Reddit Inc. (NYSE:RDDT) in the second quarter, according to the company in its most recent filing with the SEC. The fund bought 28,545 shares of the company’s stock, valued at approximately $4,298,000. Reddit accounts for 0.7% of Wellington Shields Capital Management LLC’s investment portfolio, making the stock its 29th biggest position.

A number of other institutional investors and hedge funds have also recently modified their holdings of RDDT. Alliancebernstein L.P. boosted its holdings in shares of Reddit by 103.0% in the 1st quarter. Alliancebernstein L.P. now owns 5,659,990 shares of the company’s stock worth $593,733,000 after purchasing an additional 2,871,232 shares during the period. Nordea Investment Management AB boosted its holdings 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 purchasing an additional 1,056,069 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Reddit by 11.1% in the 1st quarter. Vanguard Group Inc. now owns 10,198,552 shares of the company’s stock worth $1,069,828,000 after purchasing an additional 1,017,162 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Reddit by 98.2% in the 1st quarter. JPMorgan Chase & Co. now owns 1,907,495 shares of the company’s stock worth $200,096,000 after purchasing an additional 944,847 shares during the period. Finally, Scge Management L.P. boosted its holdings in shares of Reddit by 121.1% in the 1st quarter. Scge Management L.P. now owns 1,612,000 shares of the company’s stock worth $169,099,000 after purchasing an additional 883,000 shares during the period.

Analyst Upgrades and Downgrades

RDDT has been the subject of a number of recent research reports. Robert W. Baird lifted their target price on Reddit from $177.00 to $240.00 and gave the stock a “neutral” rating in a report on Thursday, September 25th. Morgan Stanley restated an “overweight” rating and set a $250.00 price objective on shares of Reddit in a report on Friday. Sanford C. Bernstein boosted their price objective on Reddit from $190.00 to $210.00 and gave the company a “market perform” rating in a report on Friday. Royal Bank Of Canada restated a “sector perform” rating on shares of Reddit in a report on Wednesday, October 1st. Finally, Guggenheim boosted their price objective on Reddit from $165.00 to $215.00 and gave the company a “buy” rating in a report on Friday, August 1st. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Reddit has an average rating of “Moderate Buy” and an average target price of $225.71.

Reddit Stock Up 7.6%

Shares of NYSE RDDT opened at $209.15 on Monday. The business has a fifty day simple moving average of $223.88 and a two-hundred day simple moving average of $171.31. The firm has a market cap of $39.14 billion, a PE ratio of 120.20, a price-to-earnings-growth ratio of 3.10 and a beta of 2.23. Reddit Inc. has a twelve month low of $79.75 and a twelve month high of $282.95.

Reddit (NYSE:RDDT) last issued its earnings results on Thursday, October 30th. The company reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.30. The business had revenue of $585.00 million during the quarter, compared to analyst estimates of $546.65 million. Reddit had a return on equity of 15.55% and a net margin of 18.33%.Reddit’s revenue was up 67.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.16 EPS. Reddit has set its Q4 2025 guidance at EPS. On average, research analysts expect that Reddit Inc. will post 1.12 earnings per share for the current year.

Insider Buying and Selling at Reddit

In other Reddit news, CTO Christopher Brian Slowe sold 14,000 shares of Reddit stock in a transaction on Wednesday, October 22nd. The stock was sold at an average price of $197.10, for a total transaction of $2,759,400.00. Following the completion of the sale, the chief technology officer directly owned 204,534 shares of the company’s stock, valued at $40,313,651.40. The trade was a 6.41% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Steve Ladd Huffman sold 18,000 shares of the business’s stock in a transaction 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 completion of the transaction, the chief executive officer directly owned 494,104 shares of the company’s stock, valued at approximately $99,082,675.12. The trade was a 3.51% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 419,626 shares of company stock valued at $94,485,676 in the last ninety days. Corporate insiders own 34.25% of the company’s stock.

Reddit 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.