5,444 Shares of Reddit Inc. $RDDT Bought by Provenance Wealth Advisors LLC

Provenance Wealth Advisors LLC bought a new position in Reddit Inc. (NYSE:RDDT) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 5,444 shares of the company’s stock, valued at approximately $775,000.

Other large investors also recently modified their holdings of the company. Wellington Management Group LLP increased its holdings in shares of Reddit by 21.8% in the second quarter. Wellington Management Group LLP now owns 1,564,535 shares of the company’s stock valued at $271,572,000 after purchasing an additional 280,030 shares in the last quarter. State Street Corp raised its position in Reddit by 8.7% in the 2nd quarter. State Street Corp now owns 2,979,587 shares of the company’s stock worth $517,197,000 after purchasing an additional 237,523 shares during the last quarter. Moore Capital Management LP raised its position in Reddit by 611.4% in the 2nd quarter. Moore Capital Management LP now owns 12,577 shares of the company’s stock worth $2,183,000 after purchasing an additional 10,809 shares during the last quarter. Light Street Capital Management LLC acquired a new position in Reddit during the 2nd quarter worth $31,678,000. Finally, PensionDanmark Pensionsforsikringsaktieselskab lifted its holdings in Reddit by 102.3% during the 2nd quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 19,120 shares of the company’s stock worth $3,319,000 after buying an additional 9,670 shares in the last quarter.

Insider Buying and Selling at Reddit

In other news, COO Jennifer L. Wong sold 60,000 shares of the firm’s stock in a transaction on Wednesday, October 14th. The stock was sold at an average price of $150.55, for a total value of $9,033,000.00. Following the transaction, the chief operating officer directly owned 1,012,226 shares in the company, valued at $152,390,624.30. This trade represents a 5.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Robert A. Sauerberg sold 5,128 shares of Reddit stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $159.92, for a total value of $820,069.76. Following the sale, the director directly owned 27,087 shares of the company’s stock, valued at approximately $4,331,753.04. This trade represents a 15.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 288,052 shares of company stock worth $46,878,483. Insiders own 28.48% of the company’s stock.

Reddit News Summary

Here are the key news stories impacting Reddit this week:

• Positive Sentiment: Reddit’s latest reported quarter showed revenue up 53% year over year, with both revenue and earnings per share above consensus. Strong ad growth and user engagement support the longer-term case. Zacks article
• Positive Sentiment: The company is testing ads in search results, creating another potential way to monetize existing users as it adapts to changes in how people find Reddit content. TechCrunch article
• Neutral Sentiment: KeyCorp raised its 2026 EPS estimate to $5.41 from $4.90, but cut its 2027 estimate to $6.39 from $6.92 and its 2028 estimate to $7.06 from $8.73. Its Sector Weight rating signals a mixed outlook. MarketBeat analyst estimates
• Neutral Sentiment: Reddit and a rights group are challenging Australia’s under-16 social-media ban in court. The case raises potential regulatory and access questions, but its business impact is uncertain. Sky News article
• Negative Sentiment: Investors remain concerned about falling search traffic and weaker-than-expected revenue guidance, which prompted a steep post-quarter selloff and renewed questions about growth. Yahoo Finance article
• Negative Sentiment: Loop Capital and Evercore lowered their ratings, adding to pressure on sentiment amid concerns about growth and valuation. Loop Capital rating article Evercore rating article

Reddit Price Performance

RDDT opened at $101.83 on Thursday. The firm has a 50 day simple moving average of $146.78 and a 200 day simple moving average of $158.00. Reddit Inc. has a fifty-two week low of $89.28 and a fifty-two week high of $263.50. The company has a market cap of $19.59 billion, a price-to-earnings ratio of 20.78, a price-to-earnings-growth ratio of 0.39 and a beta of 2.28.

Reddit (NYSE:RDDT) last announced its quarterly earnings data on Thursday, October 29th. The company reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.33 by $0.07. Reddit had a net margin of 32.10% and a return on equity of 30.57%. The firm had revenue of $894.96 million for the quarter, compared to analysts’ expectations of $874.91 million. During the same period last year, the firm earned $0.80 earnings per share. The business’s revenue for the quarter was up 53.0% on a year-over-year basis. As a group, analysts expect that Reddit Inc. will post 5.42 EPS for the current year.

Wall Street Analyst Weigh In

RDDT has been the topic of a number of recent research reports. Oppenheimer lowered Reddit from an “outperform” rating to a “market perform” rating in a research report on Friday, October 30th. Raymond James Financial restated a “strong-buy” rating and set a $205.00 target price on shares of Reddit in a research report on Monday, August 17th. Bank of America restated a “neutral” rating and set a $135.00 target price (down from $190.00) on shares of Reddit in a research report on Friday, October 30th. Robert W. Baird set a $185.00 price target on Reddit in a research note on Friday, July 31st. Finally, DA Davidson decreased their price target on Reddit from $185.00 to $125.00 and set a “buy” rating on the stock in a report on Monday. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and fifteen have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $180.91.

Reddit Profile

Reddit, Inc operates a global online platform where users participate in communities organized around shared interests, topics and activities. Members can submit text posts, links, images and videos, as well as comment on and vote on content. The platform includes thousands of communities, commonly known as subreddits, covering subjects such as news, entertainment, technology, sports, finance and lifestyle.

Reddit generates revenue primarily through digital advertising, offering advertisers access to audiences based on community interests and user engagement.