Left Brain Wealth Management LLC Purchases 2,570 Shares of Reddit Inc. $RDDT

Left Brain Wealth Management LLC boosted its position in shares of Reddit Inc. (NYSE:RDDT) by 128.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,570 shares of the company’s stock after acquiring an additional 2,570 shares during the period. Left Brain Wealth Management LLC’s holdings in Reddit were worth $688,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Resona Asset Management Co. Ltd. raised its position in shares of Reddit by 0.3% in the 2nd quarter. Resona Asset Management Co. Ltd. now owns 20,201 shares of the company’s stock valued at $3,023,000 after purchasing an additional 65 shares during the last quarter. Congress Park Capital LLC increased its stake in Reddit by 2.0% during the 2nd quarter. Congress Park Capital LLC now owns 3,885 shares of the company’s stock valued at $585,000 after purchasing an additional 76 shares in the last quarter. Platinum Investment Management Ltd. increased its stake in Reddit by 4.3% during the 2nd quarter. Platinum Investment Management Ltd. now owns 2,322 shares of the company’s stock valued at $350,000 after purchasing an additional 95 shares in the last quarter. CWM LLC raised its holdings in shares of Reddit by 100.0% in the first quarter. CWM LLC now owns 256 shares of the company’s stock worth $27,000 after buying an additional 128 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in shares of Reddit by 12.5% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 1,323 shares of the company’s stock worth $139,000 after buying an additional 147 shares during the period.

Insider Activity at Reddit

In other news, CTO Christopher Brian Slowe sold 14,000 shares of the business’s stock in a transaction that occurred on Monday, November 10th. The stock was sold at an average price of $204.43, for a total transaction of $2,862,020.00. Following the transaction, the chief technology officer directly owned 202,534 shares in the company, valued at $41,404,025.62. The trade was a 6.47% 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 company’s stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $194.81, for a total value of $3,506,580.00. Following the completion of the sale, the chief executive officer owned 485,958 shares of the company’s stock, valued at $94,669,477.98. This trade represents a 3.57% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 317,140 shares of company stock valued at $69,998,775. Corporate insiders own 34.25% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on RDDT. Wells Fargo & Company raised their price objective on Reddit from $155.00 to $174.00 and gave the stock a “cautious” rating in a research note on Tuesday, October 7th. B. Riley reaffirmed a “buy” rating and issued a $245.00 price objective (up from $235.00) on shares of Reddit in a report on Friday, October 31st. Jefferies Financial Group raised their target price on shares of Reddit from $230.00 to $300.00 and gave the stock a “buy” rating in a report on Wednesday, September 10th. JMP Securities restated a “market outperform” rating and set a $300.00 target price on shares of Reddit in a research report on Friday, October 3rd. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $290.00 price target on shares of Reddit in a report on Friday, October 3rd. 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 assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $226.33.

Reddit Stock Up 0.8%

RDDT stock opened at $183.39 on Friday. Reddit Inc. has a 52-week low of $79.75 and a 52-week high of $282.95. The firm has a market cap of $34.75 billion, a P/E ratio of 105.40, a PEG ratio of 2.02 and a beta of 2.14. The company’s 50-day simple moving average is $211.95 and its 200-day simple moving average is $179.53.

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