Inspire Trust Co. N.A. Purchases 10,000 Shares of Reddit Inc. $RDDT

Inspire Trust Co. N.A. boosted its position in Reddit Inc. (NYSE:RDDT) by 50.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 30,000 shares of the company’s stock after acquiring an additional 10,000 shares during the period. Inspire Trust Co. N.A.’s holdings in Reddit were worth $4,273,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in RDDT. Wellington Management Group LLP lifted its stake in shares of Reddit by 21.8% in the second quarter. Wellington Management Group LLP now owns 1,564,535 shares of the company’s stock valued at $271,572,000 after buying an additional 280,030 shares in the last quarter. State Street Corp grew its holdings in shares of Reddit by 8.7% during the second quarter. State Street Corp now owns 2,979,587 shares of the company’s stock valued at $517,197,000 after buying an additional 237,523 shares during the last quarter. Moore Capital Management LP increased its position in shares of Reddit by 611.4% during the second quarter. Moore Capital Management LP now owns 12,577 shares of the company’s stock worth $2,183,000 after acquiring an additional 10,809 shares in the last quarter. Light Street Capital Management LLC bought a new stake in shares of Reddit during the second quarter worth about $31,678,000. Finally, PensionDanmark Pensionsforsikringsaktieselskab increased its position in shares of Reddit by 102.3% during the second quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 19,120 shares of the company’s stock worth $3,319,000 after acquiring an additional 9,670 shares in the last quarter.

Reddit Stock Down 2.3%

RDDT stock opened at $98.48 on Wednesday. The firm has a market cap of $19.02 billion, a PE ratio of 20.10, a P/E/G ratio of 0.41 and a beta of 2.28. The business has a 50 day moving average of $142.35 and a 200-day moving average of $155.53. Reddit Inc. has a 12-month low of $89.28 and a 12-month high of $263.50.

Reddit (NYSE:RDDT) last issued its quarterly earnings results on Thursday, October 29th. The company reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.33 by $0.07. Reddit had a return on equity of 30.57% and a net margin of 32.10%. The business had revenue of $894.96 million for the quarter, compared to analyst estimates of $874.91 million. During the same period last year, the company posted $0.80 earnings per share. Reddit’s quarterly revenue was up 53.0% compared to the same quarter last year. On average, research analysts expect that Reddit Inc. will post 5.42 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. BNP Paribas Exane cut their price target on Reddit from $180.00 to $110.00 in a research note on Friday, October 30th. Wells Fargo & Company lowered their price objective on Reddit from $142.00 to $110.00 and set an “equal weight” rating for the company in a research note on Friday, October 30th. Oppenheimer cut Reddit from an “outperform” rating to a “market perform” rating in a research report on Friday, October 30th. President Capital cut their target price on Reddit from $207.00 to $199.00 and set a “buy” rating on the stock in a research report on Thursday, September 17th. Finally, Sanford C. Bernstein reiterated a “market perform” rating and set a $120.00 price target (down from $180.00) on shares of Reddit in a report on Friday, October 30th. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and fifteen have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $180.00.

More Reddit News

Here are the key news stories impacting Reddit this week:

• Positive Sentiment: Reddit launched Reddit Reviews, which uses AI to organize community discussions into product reviews and key takeaways. The feature could make Reddit more useful for product research and create opportunities to convert user activity into revenue. Reddit is turning user conversations into AI-powered product reviews
• Positive Sentiment: A Seeking Alpha analysis argues that the selloff may discount the potential value of conversion traffic, suggesting investors may be underestimating Reddit’s ability to turn visitors into users and customers. Reddit’s 29% Earnings Selloff May Be Overlooking Conversion Traffic Potential
• Neutral Sentiment: Guggenheim cut its price target to $140 from $170 but maintained a Buy rating. The lower target reflects a more cautious outlook, while the rating indicates the firm still sees potential upside. Guggenheim stock recommendations
• Negative Sentiment: Google search traffic is a key concern: Reddit’s COO said more than 80% of monetization comes from logged-in users, leaving the remaining portion more exposed to Google’s pressure on traffic. That risk may contribute to investor worries about future growth. Reddit COO Says “Over 80% of Our Monetization” Is Logged In. Google Is Squeezing the Rest
• Negative Sentiment: Two law firms announced securities investigations following the reported 29.2% share drop. These are investigations, not findings of wrongdoing, but the announcements add legal uncertainty and negative headlines. Block & Leviton investigation announcement Kirby McInerney investigation announcement
• Negative Sentiment: Director Mary Gale sold 4,000 shares for $384,000, reducing her reported holdings by 26.35%. Insider sales can have varied motivations, but may add to cautious sentiment. SEC Form 4 filing

Insiders Place Their Bets

In other news, Director Mary Gale sold 4,000 shares of Reddit stock in a transaction on Friday, November 6th. The stock was sold at an average price of $96.00, for a total transaction of $384,000.00. Following the sale, the director directly owned 11,181 shares in the company, valued at $1,073,376. The trade was a 26.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Robert Sauerberg sold 5,128 shares of the business’s stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $159.92, for a total transaction of $820,069.76. Following the completion of the transaction, the director directly owned 27,087 shares in the company, valued at $4,331,753.04. This trade represents a 15.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 295,052 shares of company stock valued at $47,550,483. 28.48% of the stock is owned by company insiders.

Reddit Profile

Reddit, Inc. operates Reddit, an online platform where users share posts, discuss topics and participate in communities known as subreddits. Members can submit text, images, videos and links, comment on posts, and vote on content, helping shape what appears in each community. The company generates revenue primarily through advertising and also offers paid subscriptions and other products. Reddit serves users and advertisers around the world through its website and mobile applications. Reddit was founded in 2005 by Steve Huffman, Alexis Ohanian and Aaron Swartz.