Reddit Inc. $RDDT Shares Bought by Kestra Advisory Services LLC

Kestra Advisory Services LLC lifted its position in Reddit Inc. (NYSE:RDDT) by 20.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 25,675 shares of the company’s stock after acquiring an additional 4,301 shares during the quarter. Kestra Advisory Services LLC’s holdings in Reddit were worth $3,457,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of RDDT. Vanguard Group Inc. grew its stake in Reddit by 8.9% during the 4th quarter. Vanguard Group Inc. now owns 13,322,048 shares of the company’s stock worth $3,062,339,000 after buying an additional 1,083,540 shares during the last quarter. Capital World Investors acquired a new position in shares of Reddit during the fourth quarter valued at approximately $1,293,258,000. State Street Corp increased its position in shares of Reddit by 6.0% during the 4th quarter. State Street Corp now owns 2,631,332 shares of the company’s stock valued at $604,864,000 after purchasing an additional 149,401 shares during the period. Geode Capital Management LLC grew its holdings in Reddit by 4.7% during the fourth quarter. Geode Capital Management LLC now owns 2,382,712 shares of the company’s stock worth $546,789,000 after acquiring an additional 106,821 shares during the period. Finally, Morgan Stanley raised its holdings in shares of Reddit by 11.4% in the 4th quarter. Morgan Stanley now owns 2,372,443 shares of the company’s stock worth $545,354,000 after purchasing an additional 242,709 shares in the last quarter.

Analyst Ratings Changes

RDDT has been the topic of several recent analyst reports. Wells Fargo & Company boosted their price objective on Reddit from $176.00 to $187.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 7th. Cantor Fitzgerald lifted their price objective on Reddit from $170.00 to $180.00 and gave the company a “neutral” rating in a research report on Friday, May 1st. The Goldman Sachs Group reiterated a “neutral” rating and issued a $200.00 target price on shares of Reddit in a research note on Friday, May 1st. Raymond James Financial set a $180.00 price target on Reddit and gave the stock a “market perform” rating in a research note on Friday, May 1st. Finally, Oppenheimer reiterated an “outperform” rating and issued a $225.00 target price on shares of Reddit in a research note on Friday, May 1st. Nineteen investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Reddit has an average rating of “Moderate Buy” and an average price target of $231.79.

Reddit Trading Down 1.8%

NYSE RDDT opened at $181.91 on Friday. The company has a 50 day moving average of $172.78 and a 200-day moving average of $169.74. Reddit Inc. has a 1-year low of $119.27 and a 1-year high of $282.95. The firm has a market cap of $35.02 billion, a price-to-earnings ratio of 51.97 and a beta of 1.93.

Reddit (NYSE:RDDT) last announced its earnings results on Thursday, April 30th. The company reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.39. The company had revenue of $663.41 million during 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 company’s revenue was up 69.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.13 earnings per share. On average, analysts forecast that Reddit Inc. will post 4.83 earnings per share for the current year.

Insider Buying and Selling

In other Reddit news, COO Jennifer L. Wong sold 39,167 shares of Reddit stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $158.52, for a total value of $6,208,752.84. Following the sale, the chief operating officer owned 1,088,451 shares of the company’s stock, valued at $172,541,252.52. This trade represents a 3.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Michelle Marie Reynolds sold 808 shares of the stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $200.00, for a total transaction of $161,600.00. Following the transaction, the chief accounting officer 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 SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 169,141 shares of company stock valued at $28,680,845 in the last 90 days. 28.48% of the stock is owned by insiders.

Key Headlines Impacting Reddit

Here are the key news stories impacting Reddit this week:

• Positive Sentiment: Wedbush initiated coverage on Reddit with an Outperform rating and a $250 price target, signaling strong confidence in the company’s long-term monetization potential. Benzinga article on Wedbush coverage
• Positive Sentiment: Analysts highlighted Reddit’s AI initiative, including partnerships, platform upgrades, and ad tools, as a growing driver of revenue and engagement. Zacks article on Reddit AI initiative
• Positive Sentiment: Jefferies said Reddit could beat second-quarter revenue and EBITDA expectations thanks to strong ad checks and improving user growth, which would support the bullish earnings narrative. Proactive Investors article on earnings beat potential
• Positive Sentiment: Several reports suggested Reddit stock may be undervalued relative to its AI and ad-growth outlook, with one piece citing as much as 47% upside based on those themes. Yahoo Finance article on undervaluation
• Neutral Sentiment: One article noted that analysts are still mixed on Reddit and other communication-services names, suggesting the stock may remain volatile as sentiment varies. The Globe and Mail article on conflicted analysts
• Negative Sentiment: Reddit also saw coverage around a recent selloff and questions about why the stock fell more than the broader market, indicating some traders are still taking profits after a strong run. Zacks article on recent decline

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.