Spartan Wealth Advisory Services LLC Makes New Investment in Reddit Inc. $RDDT

Spartan Wealth Advisory Services LLC bought a new position in Reddit Inc. (NYSE:RDDT) during the first quarter, HoldingsChannel.com reports. The fund bought 11,533 shares of the company’s stock, valued at approximately $1,553,000.

Several other hedge funds have also recently made changes to their positions in the business. Ascentis Independent Advisors purchased a new position in Reddit in the first quarter worth about $30,000. LOM Asset Management Ltd bought a new stake in Reddit during the fourth quarter worth approximately $33,000. Geneos Wealth Management Inc. raised its position in Reddit by 344.6% during the first quarter. Geneos Wealth Management Inc. now owns 369 shares of the company’s stock valued at $39,000 after purchasing an additional 286 shares during the period. V Square Quantitative Management LLC bought a new stake in shares of Reddit in the 1st quarter valued at approximately $43,000. Finally, Summit Securities Group LLC purchased a new position in shares of Reddit in the 4th quarter worth approximately $46,000.

Reddit Stock Up 0.4%

Shares of NYSE:RDDT opened at $181.91 on Monday. The stock has a market cap of $35.02 billion, a P/E ratio of 51.97 and a beta of 1.93. Reddit Inc. has a 52-week low of $119.27 and a 52-week high of $282.95. The business’s 50 day moving average is $172.78 and its 200 day moving average is $169.29.

Reddit (NYSE:RDDT) last issued its quarterly earnings data on Thursday, April 30th. The company reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.39. Reddit had a net margin of 28.60% and a return on equity of 25.48%. The company had revenue of $663.41 million for the quarter, compared to analyst estimates of $607.74 million. During the same period last year, the company posted $0.13 earnings per share. Reddit’s revenue was up 69.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Reddit Inc. will post 4.85 EPS for the current fiscal year.

Key Headlines Impacting Reddit

Here are the key news stories impacting Reddit this week:

• Positive Sentiment: Wedbush initiated coverage on Reddit with an Outperform rating and a $250 price target, signaling strong confidence in the company’s long-term monetization potential. Benzinga article on Wedbush coverage
• Positive Sentiment: Analysts highlighted Reddit’s AI initiative, including partnerships, platform upgrades, and ad tools, as a growing driver of revenue and engagement. Zacks article on Reddit AI initiative
• Positive Sentiment: Jefferies said Reddit could beat second-quarter revenue and EBITDA expectations thanks to strong ad checks and improving user growth, which would support the bullish earnings narrative. Proactive Investors article on earnings beat potential
• Positive Sentiment: Several reports suggested Reddit stock may be undervalued relative to its AI and ad-growth outlook, with one piece citing as much as 47% upside based on those themes. Yahoo Finance article on undervaluation
• Neutral Sentiment: One article noted that analysts are still mixed on Reddit and other communication-services names, suggesting the stock may remain volatile as sentiment varies. The Globe and Mail article on conflicted analysts
• Negative Sentiment: Reddit also saw coverage around a recent selloff and questions about why the stock fell more than the broader market, indicating some traders are still taking profits after a strong run. Zacks article on recent decline

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on RDDT shares. Raymond James Financial set a $180.00 target price on Reddit and gave the company a “market perform” rating in a research report on Friday, May 1st. Loop Capital reaffirmed a “buy” rating and set a $260.00 price objective on shares of Reddit in a research note on Thursday, June 4th. Weiss Ratings reiterated a “hold (c)” rating on shares of Reddit in a research report on Friday, May 8th. Wedbush began coverage on shares of Reddit in a research note on Thursday. They issued an “outperform” rating and a $250.00 target price on the stock. Finally, Needham & Company LLC restated a “buy” rating and issued a $300.00 target price on shares of Reddit in a report on Wednesday, June 24th. Nineteen research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $231.79.

Insiders Place Their Bets

In other Reddit news, CAO Michelle Marie Reynolds sold 808 shares of the company’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $200.00, for a total transaction of $161,600.00. Following the transaction, the chief accounting officer owned 15,060 shares in the company, valued at approximately $3,012,000. This represents a 5.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Steve Ladd Huffman sold 18,000 shares of the firm’s stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $173.13, for a total transaction of $3,116,340.00. Following the completion of the transaction, the chief executive officer directly owned 373,814 shares of the company’s stock, valued at approximately $64,718,417.82. This represents a 4.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 169,141 shares of company stock valued at $28,680,845. Insiders own 28.48% of the company’s stock.

Reddit Profile

Reddit is an online social news aggregation, discussion and content-sharing platform organized around user-created communities called “subreddits,” each focused on a particular topic or interest. Registered users submit links, text posts, images and video, and community members vote and comment to surface popular content. The site is accessed via its web platform and mobile apps for iOS and Android, and it supports live events such as Ask Me Anything (AMA) sessions and community-driven discussions.

Founded in 2005 by Steve Huffman and Alexis Ohanian, Reddit is headquartered in San Francisco and serves a global audience with particularly large user bases in the United States and other English-speaking markets.