Reddit Inc. $RDDT Shares Purchased by Golden State Wealth Management LLC

Golden State Wealth Management LLC raised its holdings in Reddit Inc. (NYSE:RDDT) by 770.0% in the second quarter, Holdings Channel.com reports. The fund owned 870 shares of the company’s stock after acquiring an additional 770 shares during the period. Golden State Wealth Management LLC’s holdings in Reddit were worth $131,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Andra AP fonden raised its holdings in shares of Reddit by 1,185.3% in the 2nd quarter. Andra AP fonden now owns 137,800 shares of the company’s stock worth $20,749,000 after purchasing an additional 127,079 shares in the last quarter. Resona Asset Management Co. Ltd. increased its holdings in shares of Reddit by 0.3% in the second quarter. Resona Asset Management Co. Ltd. now owns 20,201 shares of the company’s stock valued at $3,023,000 after buying an additional 65 shares in the last quarter. EFG Asset Management North America Corp. lifted its position in shares of Reddit by 92.2% during the 2nd quarter. EFG Asset Management North America Corp. now owns 17,788 shares of the company’s stock valued at $2,674,000 after acquiring an additional 8,535 shares during the last quarter. Moors & Cabot Inc. bought a new stake in shares of Reddit during the 2nd quarter worth $690,000. Finally, Transatlantique Private Wealth LLC acquired a new position in shares of Reddit in the 2nd quarter worth $209,000.

Reddit Price Performance

NYSE RDDT opened at $194.31 on Friday. The firm has a market capitalization of $36.37 billion, a price-to-earnings ratio of 111.67, a price-to-earnings-growth ratio of 2.02 and a beta of 2.14. The company has a 50 day simple moving average of $221.17 and a 200-day simple moving average of $173.65. Reddit Inc. has a 52-week low of $79.75 and a 52-week high of $282.95.

Reddit (NYSE:RDDT) last released its quarterly earnings data 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. The firm had revenue of $585.00 million for the quarter, compared to analyst estimates of $546.65 million. Reddit had a net margin of 18.33% and a return on equity of 14.94%. The company’s revenue for the quarter was up 67.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.16 EPS. Reddit has set its Q4 2025 guidance at EPS. On average, analysts predict that Reddit Inc. will post 1.12 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on RDDT. JPMorgan Chase & Co. upped their target price on Reddit from $190.00 to $227.00 and gave the company a “neutral” rating in a report on Friday, October 31st. Roth Capital set a $210.00 price objective on shares of Reddit in a research note on Friday, October 31st. Guggenheim lifted their target price on shares of Reddit from $165.00 to $215.00 and gave the stock a “buy” rating in a research report on Friday, August 1st. B. Riley restated a “buy” rating and issued a $245.00 price target (up previously from $235.00) on shares of Reddit in a research report on Friday, October 31st. Finally, Oppenheimer raised their price objective on shares of Reddit from $215.00 to $300.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 16th. Three equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $226.33.

Insider Buying and Selling

In other news, CEO Steve Ladd Huffman sold 13,911 shares of Reddit stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $189.33, for a total transaction of $2,633,769.63. Following the completion of the sale, the chief executive officer directly owned 498,193 shares in the company, valued at $94,322,880.69. The trade was a 2.72% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Jennifer L. Wong sold 8,467 shares of the business’s stock in a transaction that occurred on Thursday, October 23rd. The shares were sold at an average price of $201.81, for a total value of $1,708,725.27. Following the completion of the sale, the chief operating officer directly owned 103,099 shares of the company’s stock, valued at approximately $20,806,409.19. The trade was a 7.59% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 420,126 shares of company stock worth $94,369,614. Corporate insiders own 34.25% of the company’s stock.

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.