Kingsview Wealth Management LLC Has $1.05 Million Stock Holdings in Reddit Inc. $RDDT

Kingsview Wealth Management LLC grew its stake in shares of Reddit Inc. (NYSE:RDDT) by 23.6% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 6,983 shares of the company’s stock after acquiring an additional 1,333 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Reddit were worth $1,051,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of RDDT. Teacher Retirement System of Texas lifted its holdings in shares of Reddit by 880.5% during the 2nd quarter. Teacher Retirement System of Texas now owns 94,676 shares of the company’s stock worth $14,255,000 after acquiring an additional 85,020 shares during the period. Petrus Trust Company LTA acquired a new position in Reddit during the first quarter valued at approximately $473,000. JPMorgan Chase & Co. lifted its stake in Reddit by 98.2% during the first 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 last quarter. Greycroft LP boosted its holdings in shares of Reddit by 109.1% in the 1st quarter. Greycroft LP now owns 11,500 shares of the company’s stock valued at $1,206,000 after purchasing an additional 6,000 shares in the last quarter. Finally, Think Investments LP boosted its holdings in shares of Reddit by 10.3% in the 1st quarter. Think Investments LP now owns 268,000 shares of the company’s stock valued at $28,113,000 after purchasing an additional 25,000 shares in the last quarter.

Insider Transactions at Reddit

In related news, CFO Andrew Vollero sold 30,000 shares of the firm’s stock in a transaction on Tuesday, September 2nd. The stock was 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 of the company’s stock, valued at $61,974,199.12. This trade represents a 9.55% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Steve Ladd Huffman sold 18,000 shares of Reddit stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $223.41, for a total value of $4,021,380.00. Following the transaction, the chief executive officer directly owned 494,104 shares in the company, valued at $110,387,774.64. The trade was a 3.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 377,747 shares of company stock worth $83,344,757. Company insiders own 34.25% of the company’s stock.

Reddit Price Performance

Reddit stock opened at $188.10 on Thursday. The business has a 50 day moving average of $214.94 and a 200-day moving average of $178.56. The company has a market capitalization of $35.64 billion, a P/E ratio of 108.10, a P/E/G ratio of 2.05 and a beta of 2.14. Reddit Inc. has a 1 year low of $79.75 and a 1 year high of $282.95.

Reddit (NYSE:RDDT) last posted its earnings results on Thursday, October 30th. The company reported $0.80 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $546.65 million. During the same period last year, the company earned $0.16 EPS. The firm’s revenue was up 67.9% compared to the same quarter last year. Reddit has set its Q4 2025 guidance at EPS. Equities analysts anticipate that Reddit Inc. will post 1.12 EPS for the current year.

Analyst Upgrades and Downgrades

RDDT has been the subject of several recent analyst reports. Guggenheim upped their price objective on Reddit from $165.00 to $215.00 and gave the stock a “buy” rating in a research report on Friday, August 1st. Robert W. Baird boosted their target price on Reddit from $177.00 to $240.00 and gave the stock a “neutral” rating in a research note on Thursday, September 25th. Wall Street Zen raised shares of Reddit from a “hold” rating to a “buy” rating in a report on Sunday, September 7th. Piper Sandler restated an “overweight” rating and issued a $290.00 price target on shares of Reddit in a research note on Friday, October 3rd. Finally, Cannonball Research reaffirmed a “buy” rating on shares of Reddit in a report on Tuesday, September 23rd. Three analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, nine have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Reddit currently has an average rating of “Moderate Buy” and a consensus target price of $226.33.

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.