Militia Capital Management LLC Invests $2.38 Million in Reddit Inc. $RDDT

Militia Capital Management LLC acquired a new stake in shares of Reddit Inc. (NYSE:RDDT) during the first quarter, according to its most recent disclosure with the SEC. The fund acquired 17,662 shares of the company’s stock, valued at approximately $2,378,000.

A number of other hedge funds also recently made changes to their positions in the stock. NewEdge Advisors LLC increased its holdings in Reddit by 143.3% in the 1st quarter. NewEdge Advisors LLC now owns 7,982 shares of the company’s stock worth $837,000 after acquiring an additional 4,701 shares in the last quarter. Empowered Funds LLC bought a new stake in Reddit during the 1st quarter worth approximately $213,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Reddit by 106.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 216,960 shares of the company’s stock valued at $22,759,000 after purchasing an additional 111,780 shares in the last quarter. Focus Partners Wealth lifted its holdings in Reddit by 40.8% during the first quarter. Focus Partners Wealth now owns 10,224 shares of the company’s stock valued at $1,073,000 after purchasing an additional 2,965 shares in the last quarter. Finally, Geneos Wealth Management Inc. boosted its position in shares of Reddit by 344.6% in 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.

More Reddit News

Here are the key news stories impacting Reddit this week:

• Negative Sentiment: Investors are worried Reddit could restrict Google’s access to its content for AI training, creating uncertainty around a key licensing agreement and raising questions about future monetization. Reddit stock sinks on report it may not renew Google AI content deal
• Negative Sentiment: The market also sees a risk that Google’s AI-generated overviews could reduce traffic referrals to Reddit, which would be a headwind for ad-driven engagement and revenue growth. Reddit stock plunges on report of possible Google content restrictions
• Negative Sentiment: Technical pressure is adding to the selloff, with the stock falling below key moving averages and momentum weakening ahead of Reddit’s next earnings report on July 30. Reddit stock sinks below key moving averages as momentum fades
• Neutral Sentiment: Recent commentary also notes that no new filing or operating update appears to be driving the move, suggesting this is mainly a sentiment-driven reaction to the Google/AI licensing narrative. Reddit slides as Google AI data-deal uncertainty revives traffic worries

Insider Buying and Selling at Reddit

In other Reddit news, COO Jennifer L. Wong sold 39,166 shares of the stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $176.94, for a total transaction of $6,930,032.04. Following the completion of the transaction, the chief operating officer owned 1,050,339 shares of the company’s stock, valued at $185,846,982.66. This represents a 3.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 dated Tuesday, June 30th. The shares were sold at an average price of $173.13, for a total value of $3,116,340.00. Following the transaction, the chief executive officer owned 373,814 shares of the company’s stock, valued at approximately $64,718,417.82. The trade was a 4.59% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 169,141 shares of company stock worth $28,680,845. Insiders own 28.48% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on RDDT shares. Cantor Fitzgerald reissued a “neutral” rating and issued a $200.00 price objective on shares of Reddit in a research note on Monday. Wall Street Zen cut shares of Reddit from a “buy” rating to a “hold” rating in a research note on Sunday, May 10th. Rothschild & Co Redburn set a $110.00 target price on shares of Reddit in a report on Monday, April 27th. Piper Sandler reaffirmed an “overweight” rating and issued a $215.00 target price on shares of Reddit in a report on Thursday, July 9th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $300.00 price target on shares of Reddit in a research note on Wednesday, June 24th. Nineteen research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $232.48.

Reddit Price Performance

Shares of RDDT opened at $170.38 on Thursday. Reddit Inc. has a 1 year low of $119.27 and a 1 year high of $282.95. The company has a 50 day simple moving average of $174.21 and a two-hundred day simple moving average of $168.20. The firm has a market cap of $32.80 billion, a P/E ratio of 48.68 and a beta of 1.93.

Reddit (NYSE:RDDT) last released 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 firm had revenue of $663.41 million for the quarter, compared to analysts’ expectations of $607.74 million. During the same quarter last year, the business posted $0.13 earnings per share. The company’s revenue for the quarter was up 69.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Reddit Inc. will post 4.85 earnings per share for the current year.

About Reddit

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.