PFG Investments LLC Purchases New Position in Reddit Inc. $RDDT

PFG Investments LLC purchased a new stake in Reddit Inc. (NYSE:RDDT) during the first quarter, HoldingsChannel.com reports. The firm purchased 3,717 shares of the company’s stock, valued at approximately $500,000.

Several other hedge funds also recently modified their holdings of the company. Institute for Wealth Management LLC. boosted its holdings in shares of Reddit by 6.1% in the 4th quarter. Institute for Wealth Management LLC. now owns 1,071 shares of the company’s stock worth $246,000 after acquiring an additional 62 shares in the last quarter. Roxbury Financial LLC increased its holdings in Reddit by 7.4% during the 4th quarter. Roxbury Financial LLC now owns 929 shares of the company’s stock valued at $214,000 after purchasing an additional 64 shares in the last quarter. Florida Financial Advisors LLC raised its position in Reddit by 6.7% in the 4th quarter. Florida Financial Advisors LLC now owns 1,087 shares of the company’s stock valued at $250,000 after purchasing an additional 68 shares during the last quarter. Diversified Trust Co boosted its stake in Reddit by 2.1% in the first quarter. Diversified Trust Co now owns 3,271 shares of the company’s stock worth $440,000 after purchasing an additional 68 shares in the last quarter. Finally, IFP Advisors Inc boosted its stake in Reddit by 9.9% in the third quarter. IFP Advisors Inc now owns 796 shares of the company’s stock worth $183,000 after purchasing an additional 72 shares in the last quarter.

Reddit Price Performance

Shares of NYSE RDDT opened at $199.32 on Wednesday. Reddit Inc. has a fifty-two week low of $119.27 and a fifty-two week high of $282.95. The firm has a market capitalization of $38.37 billion, a P/E ratio of 56.95 and a beta of 1.93. The company’s 50 day simple moving average is $166.78 and its 200 day simple moving average is $171.23.

Reddit (NYSE:RDDT) last released its quarterly earnings data on Thursday, April 30th. The company reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.39. The business had revenue of $663.41 million during the quarter, compared to the consensus estimate of $607.74 million. Reddit had a return on equity of 25.48% and a net margin of 28.60%.The firm’s revenue was up 69.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.13 earnings per share. Sell-side analysts expect that Reddit Inc. will post 4.83 EPS for the current fiscal year.

Wall Street Analyst Weigh In

RDDT has been the subject of a number of research reports. DA Davidson restated a “buy” rating and issued a $200.00 target price on shares of Reddit in a research note on Friday, May 1st. Weiss Ratings reissued a “hold (c)” rating on shares of Reddit in a report on Friday, May 8th. Loop Capital restated a “buy” rating and issued a $260.00 price objective on shares of Reddit in a research report on Thursday, June 4th. Truist Financial set a $265.00 target price on shares of Reddit in a research note on Friday, May 1st. Finally, Citigroup reissued a “market outperform” rating on shares of Reddit in a research note on Tuesday, May 26th. Eighteen equities research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $231.14.

Insider Buying and Selling

In related news, CEO Steve Ladd Huffman sold 18,000 shares of the firm’s stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $173.13, for a total transaction of $3,116,340.00. Following the sale, the chief executive officer directly owned 373,814 shares in the company, valued at $64,718,417.82. This trade represents a 4.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Michelle Marie Reynolds sold 808 shares of the business’s stock in a transaction 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 completion of the sale, the chief accounting officer directly owned 15,060 shares in the company, valued at $3,012,000. This represents a 5.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 226,308 shares of company stock valued at $37,856,340. 28.48% of the stock is owned by company insiders.

More Reddit News

Here are the key news stories impacting Reddit this week:

• Positive Sentiment: Wells Fargo raised its price target on Reddit to $187 from $176, reinforcing a constructive view on the stock and helping support bullish momentum after a recent rally. Wells Fargo raises target on Reddit
• Positive Sentiment: Reddit is expanding its AI licensing business, which investors may view as an additional revenue stream tied to demand for its content in the AI ecosystem. Reddit expands AI licensing
• Positive Sentiment: The company is accelerating AI safety and anti-spam efforts, including stronger bot detection and human verification, which could improve user trust and protect the quality of Reddit conversations. Reddit AI safety drive accelerates
• Neutral Sentiment: Coverage on Reddit’s recent rally highlights technical strength and potential upside levels, but it is mostly a trading-focused read rather than a new fundamental catalyst. Options Corner video on RDDT
• Neutral Sentiment: Insider selling by the company’s CAO was disclosed, but the transaction was small and occurred under a pre-arranged 10b5-1 plan, making it less likely to signal a major change in outlook. Reddit CAO sells stock
• Negative Sentiment: Despite the higher target, Wells Fargo still rates Reddit “equal weight,” implying the stock may be close to fairly valued rather than dramatically undervalued at current levels. Wells Fargo equal weight rating on Reddit

Reddit Company 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.