Cetera Investment Advisers Purchases 3,892 Shares of Reddit Inc. $RDDT

Cetera Investment Advisers increased its position in shares of Reddit Inc. (NYSE:RDDT) by 8.0% in the first quarter, HoldingsChannel reports. The firm owned 52,499 shares of the company’s stock after purchasing an additional 3,892 shares during the period. Cetera Investment Advisers’ holdings in Reddit were worth $7,069,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in RDDT. Capital World Investors acquired a new position in Reddit in the fourth quarter valued at about $1,293,258,000. Norges Bank acquired a new stake in shares of Reddit during the fourth quarter worth approximately $372,047,000. Invesco Ltd. raised its stake in shares of Reddit by 419.0% in the third quarter. Invesco Ltd. now owns 1,487,941 shares of the company’s stock valued at $342,212,000 after acquiring an additional 1,201,237 shares during the last quarter. State Street Corp raised its stake in shares of Reddit by 138.5% in the second quarter. State Street Corp now owns 2,030,139 shares of the company’s stock valued at $305,678,000 after acquiring an additional 1,178,890 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of Reddit by 8.9% in the 4th quarter. Vanguard Group Inc. now owns 13,322,048 shares of the company’s stock worth $3,062,339,000 after acquiring an additional 1,083,540 shares in the last quarter.

More Reddit News

Here are the key news stories impacting Reddit this week:

• Positive Sentiment: Reddit reported second-quarter revenue of approximately $805 million, up 61% year over year, while earnings of $1.25 per share exceeded analysts’ estimates. Advertising demand, higher pricing and user growth supported stronger monetization. Reddit crushes revenue and earnings estimates, issues strong guidance
• Positive Sentiment: Management forecast third-quarter revenue of $860 million to $870 million, above Wall Street’s approximately $830 million expectation. AI-powered advertising tools, product upgrades and continued ad growth are expected to support momentum. Reddit expects revenue above estimates as AI tools attract advertisers
• Positive Sentiment: Analyst sentiment remains mixed but includes bullish views: Truist raised its price target to $275 and maintained a buy rating, while Wedbush kept an outperform rating with a $221 target. KeyCorp also upgraded Reddit to “strong buy.” Reddit analyst actions
• Neutral Sentiment: Reddit is testing a “video Reddit” experience that could let users watch videos and listen to posts in the background, potentially increasing engagement and creating new advertising opportunities over time. Reddit is testing a new way to watch and listen to its viral posts
• Negative Sentiment: The primary selloff trigger was management’s warning that search referrals have become “choppy” or volatile. Investors fear Google’s AI-generated search summaries and other AI search tools could reduce traffic to Reddit, weakening future user growth, engagement and advertising monetization. Reddit Stock Plunges on Choppy Search Referrals Warning
• Negative Sentiment: Investors were also disappointed by slower U.S. daily-user growth and the lack of announced new AI licensing deals, raising questions about Reddit’s longer-term traffic outlook. JPMorgan and Cantor Fitzgerald responded by lowering their price targets to $185 and $170, respectively, while assigning neutral ratings. Reddit earnings: why are investors concerned despite solid headline numbers

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on RDDT shares. Jefferies Financial Group set a $250.00 price target on Reddit in a research report on Friday, July 10th. JPMorgan Chase & Co. cut their price objective on Reddit from $200.00 to $185.00 and set a “neutral” rating for the company in a research report on Friday. Guggenheim reissued a “buy” rating on shares of Reddit in a research note on Friday. Weiss Ratings reissued a “hold (c)” rating on shares of Reddit in a research note on Friday, May 8th. Finally, Wells Fargo & Company decreased their target price on Reddit from $187.00 to $142.00 and set an “equal weight” rating on the stock in a report on Friday. Two analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and eleven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $223.16.

Insiders Place Their Bets

In other Reddit news, CAO Michelle Marie Reynolds sold 808 shares of the company’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $200.00, for a total transaction of $161,600.00. Following the transaction, the chief accounting officer directly owned 15,060 shares in the company, valued at approximately $3,012,000. This represents a 5.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Steve Ladd Huffman sold 18,000 shares of Reddit stock in a transaction that occurred on 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 sale, the chief executive officer owned 373,814 shares of the company’s stock, valued at approximately $64,718,417.82. This represents a 4.59% decrease in their position. 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 three months, insiders sold 169,141 shares of company stock valued at $28,680,845. 28.48% of the stock is currently owned by insiders.

Reddit Stock Performance

NYSE:RDDT opened at $140.67 on Friday. The stock’s fifty day moving average price is $176.72 and its two-hundred day moving average price is $164.92. Reddit Inc. has a 52-week low of $119.27 and a 52-week high of $282.95. The company has a market cap of $27.08 billion, a price-to-earnings ratio of 32.71 and a beta of 1.93.

Reddit (NYSE:RDDT) last announced its quarterly earnings data on Thursday, July 30th. The company reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.30. The firm had revenue of $804.91 million for the quarter, compared to analyst estimates of $731.00 million. Reddit had a return on equity of 29.97% and a net margin of 31.35%.The business’s quarterly revenue was up 61.0% compared to the same quarter last year. During the same period last year, the company earned $0.45 EPS. On average, equities analysts predict that Reddit Inc. will post 4.85 EPS for the current fiscal year.

Reddit 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.