MJP Associates Inc. ADV Decreases Stake in Reddit Inc. $RDDT

MJP Associates Inc. ADV reduced its stake in shares of Reddit Inc. (NYSE:RDDT) by 3.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,927 shares of the company’s stock after selling 420 shares during the period. MJP Associates Inc. ADV’s holdings in Reddit were worth $1,796,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. CWM LLC raised its stake in Reddit by 100.0% in the 1st quarter. CWM LLC now owns 256 shares of the company’s stock worth $27,000 after acquiring an additional 128 shares during the last quarter. Stone House Investment Management LLC acquired a new position in shares of Reddit in the first quarter valued at about $31,000. Financial Perspectives Inc purchased a new position in shares of Reddit in the second quarter worth about $34,000. Geneos Wealth Management Inc. lifted its holdings in shares of Reddit by 344.6% during the first quarter. Geneos Wealth Management Inc. now owns 369 shares of the company’s stock worth $39,000 after purchasing an additional 286 shares during the period. Finally, Western Pacific Wealth Management LP acquired a new stake in shares of Reddit during the second quarter worth about $60,000.

Analysts Set New Price Targets

RDDT has been the topic of several research reports. Wells Fargo & Company increased their price target on shares of Reddit from $155.00 to $174.00 and gave the stock a “cautious” rating in a report on Tuesday, October 7th. Citigroup increased their price objective on shares of Reddit from $250.00 to $265.00 and gave the stock a “buy” rating in a research note on Monday, November 3rd. The Goldman Sachs Group reissued a “neutral” rating and set a $236.00 target price on shares of Reddit in a report on Tuesday, October 14th. Wolfe Research raised shares of Reddit to an “outperform” rating in a report on Sunday, August 3rd. Finally, Argus began coverage on Reddit in a research note on Monday, August 18th. They set a “buy” rating and a $250.00 price objective for the company. Three equities research 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 issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $226.33.

Reddit Stock Performance

RDDT stock opened at $193.24 on Friday. The firm has a market cap of $36.62 billion, a PE ratio of 111.06, a P/E/G ratio of 2.09 and a beta of 2.14. The firm’s fifty day moving average is $218.30 and its 200 day moving average is $176.69. Reddit Inc. has a one year low of $79.75 and a one year high of $282.95.

Reddit (NYSE:RDDT) last issued its quarterly earnings data on Thursday, October 30th. The company reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.30. Reddit had a net margin of 18.33% and a return on equity of 14.94%. The business had revenue of $584.91 million during the quarter, compared to the consensus estimate of $546.65 million. During the same quarter in the prior year, the firm posted $0.16 earnings per share. The company’s revenue was up 67.9% compared to the same quarter last year. Reddit has set its Q4 2025 guidance at EPS. Research analysts predict that Reddit Inc. will post 1.12 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Steve Ladd Huffman sold 18,000 shares of the company’s stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $223.41, for a total transaction of $4,021,380.00. Following the completion of the transaction, the chief executive officer directly owned 494,104 shares of the company’s stock, valued at $110,387,774.64. This represents a 3.51% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, COO Jennifer L. Wong sold 40,967 shares of the stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $220.38, for a total value of $9,028,307.46. Following the transaction, the chief operating officer owned 120,033 shares in the company, valued at $26,452,872.54. This trade represents a 25.45% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 420,126 shares of company stock worth $93,805,834. 34.25% of the stock is owned by company insiders.

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.