4,581 Shares in Reddit Inc. $RDDT Bought by Moors & Cabot Inc.

Moors & Cabot Inc. purchased a new stake in shares of Reddit Inc. (NYSE:RDDT) in the second quarter, HoldingsChannel reports. The institutional investor purchased 4,581 shares of the company’s stock, valued at approximately $690,000.

Other hedge funds also recently made changes to their positions in the company. CWM LLC boosted its holdings in shares of Reddit by 100.0% in the 1st quarter. CWM LLC now owns 256 shares of the company’s stock worth $27,000 after purchasing an additional 128 shares in the last quarter. Stone House Investment Management LLC bought a new position in shares of Reddit in the first quarter worth approximately $31,000. Financial Perspectives Inc purchased a new position in shares of Reddit in the second quarter valued at about $34,000. Geneos Wealth Management Inc. increased its stake in shares of Reddit by 344.6% during the first quarter. Geneos Wealth Management Inc. now owns 369 shares of the company’s stock valued at $39,000 after buying an additional 286 shares during the period. Finally, Western Pacific Wealth Management LP bought a new position in shares of Reddit during the second quarter valued at approximately $60,000.

Insider Buying and Selling

In related news, CEO Steve Ladd Huffman sold 18,000 shares of the stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $223.41, for a total transaction of $4,021,380.00. Following the sale, the chief executive officer directly owned 494,104 shares of the company’s stock, valued at approximately $110,387,774.64. This represents a 3.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Jennifer L. Wong sold 40,967 shares of Reddit stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $220.38, for a total transaction of $9,028,307.46. Following the completion of the transaction, the chief operating officer directly owned 120,033 shares of the company’s stock, valued at $26,452,872.54. This trade represents a 25.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 420,126 shares of company stock valued at $94,369,614 over the last ninety days. Insiders own 34.25% of the company’s stock.

Reddit Stock Performance

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

Reddit (NYSE:RDDT) last posted its quarterly earnings results on Thursday, October 30th. The company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.30. The company had revenue of $585.00 million for the quarter, compared to the consensus estimate of $546.65 million. Reddit had a return on equity of 14.94% and a net margin of 18.33%.The firm’s quarterly revenue was up 67.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.16 EPS. Reddit has set its Q4 2025 guidance at EPS. As a group, sell-side analysts forecast that Reddit Inc. will post 1.12 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

RDDT has been the topic of a number of research analyst reports. Guggenheim boosted their price objective on shares of Reddit from $165.00 to $215.00 and gave the company a “buy” rating in a research report on Friday, August 1st. Wolfe Research upgraded shares of Reddit to an “outperform” rating in a research report on Sunday, August 3rd. Roth Capital set a $210.00 price objective on shares of Reddit in a report on Friday, October 31st. Wells Fargo & Company upped their target price on Reddit from $155.00 to $174.00 and gave the stock a “cautious” rating in a report on Tuesday, October 7th. Finally, Royal Bank Of Canada restated a “sector perform” rating on shares of Reddit in a research report on Wednesday, October 1st. Three analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $226.33.

About Reddit

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.