Corsair Capital Management L.P. Takes Position in Reddit Inc. $RDDT

Corsair Capital Management L.P. bought a new position in shares of Reddit Inc. (NYSE:RDDT) during the 1st quarter, Holdings Channel.com reports. The firm bought 5,000 shares of the company’s stock, valued at approximately $673,000.

A number of other hedge funds have also recently added to or reduced their stakes in RDDT. Ascentis Independent Advisors acquired a new position in shares of Reddit during the 1st quarter valued at about $30,000. LOM Asset Management Ltd acquired a new stake in shares of Reddit in the fourth quarter worth approximately $33,000. 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 acquiring an additional 286 shares during the last quarter. V Square Quantitative Management LLC purchased a new stake in Reddit in the first quarter valued at approximately $43,000. Finally, Cassaday & Co Wealth Management LLC purchased a new stake in Reddit in the first quarter valued at approximately $46,000.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Wedbush reaffirmed an “outperform” rating on shares of Reddit in a research note on Thursday. Bank of America lowered their price objective on shares of Reddit from $205.00 to $175.00 and set a “neutral” rating for the company in a research note on Thursday, April 2nd. Cantor Fitzgerald restated a “neutral” rating and set a $200.00 price objective on shares of Reddit in a report on Monday, July 20th. Piper Sandler reaffirmed an “overweight” rating and issued a $215.00 target price on shares of Reddit in a research report on Thursday, July 9th. Finally, DA Davidson reiterated a “buy” rating and issued a $200.00 target price on shares of Reddit in a report on Thursday. Nineteen investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. According to MarketBeat.com, Reddit currently has a consensus rating of “Moderate Buy” and an average target price of $232.48.

Insider Activity at Reddit

In other Reddit news, CEO Steve Ladd Huffman sold 18,000 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer owned 373,814 shares in the company, valued at $64,718,417.82. The trade was a 4.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through 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 company’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $200.00, for a total value of $161,600.00. Following the completion of the sale, the chief accounting officer directly owned 15,060 shares of the company’s stock, valued at $3,012,000. The trade was a 5.09% 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 three months, insiders sold 169,141 shares of company stock worth $28,680,845. Corporate insiders own 28.48% of the company’s stock.

Key Headlines Impacting Reddit

Here are the key news stories impacting Reddit this week:

• Positive Sentiment: Reddit was added to Wedbush’s Best Ideas list ahead of Q2 results, and DA Davidson reiterated a Buy rating with a $200 price target, signaling Wall Street still sees meaningful upside. Reddit added to Wedbush Best Ideas List ahead of Q2 results
• Positive Sentiment: Several recent bullish notes say Reddit’s fundamentals remain strong, with rapid revenue growth, high margins, and ad-driven expansion supporting the stock despite valuation concerns. Reddit: Ignore The Potential Google Scuffle And Carry On
• Positive Sentiment: Investors are looking for a Q2 beat, with guidance pointing to roughly 43% to 45% year-over-year revenue growth and a strong EBITDA margin, which could reinforce the growth story if delivered. Reddit: Why I’m Staying Bullish Into The Q2 Print
• Neutral Sentiment: Analyst commentary this week has focused on Reddit alongside other communication-services names, but no major new company-specific catalyst was disclosed in the headline item. Analysts Offer Insights on Communication Services Companies
• Neutral Sentiment: Reddit’s upcoming earnings report is expected to show growth, but some screening models suggest the setup is not ideal for a clean earnings beat, keeping expectations mixed. Reddit Inc. (RDDT) Reports Next Week: Wall Street Expects Earnings Growth
• Negative Sentiment: The main overhang is renewed uncertainty around Reddit’s reported $60 million-per-year Google AI licensing deal, with some reports suggesting Reddit may rethink the agreement if renewal talks stall or content restrictions emerge. Reddit (RDDT) May Rethink $60 Million Google AI Deal As Renewal Talks Drag
• Negative Sentiment: Recent reports of a possible Google content restriction or AI feud triggered a sharp drop in the stock and pushed Reddit below key moving averages, signaling weaker momentum in the near term. Reddit stock plunges on report of possible Google content restrictions

Reddit Stock Up 0.0%

Reddit stock opened at $168.75 on Monday. Reddit Inc. has a 52-week low of $119.27 and a 52-week high of $282.95. The firm has a fifty day moving average of $174.67 and a 200-day moving average of $167.15. The firm has a market capitalization of $32.49 billion, a P/E ratio of 48.22 and a beta of 1.93.

Reddit (NYSE:RDDT) last issued its earnings results 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 for the quarter, compared to the consensus estimate of $607.74 million. Reddit had a net margin of 28.60% and a return on equity of 25.48%. The business’s revenue for the quarter was up 69.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.13 EPS. On average, research analysts expect that Reddit Inc. will post 4.85 EPS for the current fiscal 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.