Parallel Advisors LLC Lowers Stake in Reddit Inc. $RDDT

Parallel Advisors LLC cut its position in shares of Reddit Inc. (NYSE:RDDT) by 10.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,642 shares of the company’s stock after selling 559 shares during the quarter. Parallel Advisors LLC’s holdings in Reddit were worth $699,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of RDDT. Alliancebernstein L.P. grew its holdings in shares of Reddit by 103.0% during the first quarter. Alliancebernstein L.P. now owns 5,659,990 shares of the company’s stock worth $593,733,000 after buying an additional 2,871,232 shares in the last quarter. Vanguard Group Inc. grew its holdings in Reddit by 11.1% in the first quarter. Vanguard Group Inc. now owns 10,198,552 shares of the company’s stock valued at $1,069,828,000 after purchasing an additional 1,017,162 shares during the period. JPMorgan Chase & Co. grew its holdings in Reddit by 98.2% in the first quarter. JPMorgan Chase & Co. now owns 1,907,495 shares of the company’s stock valued at $200,096,000 after purchasing an additional 944,847 shares during the period. Scge Management L.P. grew its holdings in Reddit by 121.1% in the first quarter. Scge Management L.P. now owns 1,612,000 shares of the company’s stock valued at $169,099,000 after purchasing an additional 883,000 shares during the period. Finally, Baillie Gifford & Co. purchased a new stake in Reddit in the first quarter valued at approximately $78,675,000.

Reddit Trading Up 1.5%

NYSE RDDT opened at $270.47 on Friday. The company’s fifty day simple moving average is $205.88 and its 200-day simple moving average is $148.68. Reddit Inc. has a 52 week low of $63.60 and a 52 week high of $282.95. The stock has a market cap of $50.62 billion, a P/E ratio of 245.88, a PEG ratio of 4.19 and a beta of 2.40.

Reddit (NYSE:RDDT) last posted its earnings results on Thursday, July 31st. The company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.25. The business had revenue of $499.63 million for the quarter, compared to analysts’ expectations of $424.07 million. Reddit had a net margin of 12.97% and a return on equity of 9.93%. The business’s revenue for the quarter was up 77.9% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.06) earnings per share. Reddit has set its Q3 2025 guidance at EPS. On average, research analysts expect that Reddit Inc. will post 1.12 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Bank of America boosted their target price on shares of Reddit from $130.00 to $150.00 and gave the company a “neutral” rating in a report on Wednesday, July 30th. Jefferies Financial Group boosted their target price on shares of Reddit from $230.00 to $300.00 and gave the company a “buy” rating in a report on Wednesday, September 10th. Needham & Company LLC boosted their target price on shares of Reddit from $215.00 to $300.00 and gave the company a “buy” rating in a report on Monday. Morgan Stanley boosted their target price on shares of Reddit from $170.00 to $230.00 and gave the company an “overweight” rating in a report on Friday, August 1st. Finally, Sanford C. Bernstein boosted their target price on shares of Reddit from $130.00 to $150.00 and gave the company a “market perform” rating in a report on Tuesday, July 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $197.88.

Insiders Place Their Bets

In related news, CFO Andrew Vollero sold 30,000 shares of Reddit stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $218.09, for a total value of $6,542,700.00. Following the completion of the sale, the chief financial officer owned 284,168 shares in the company, valued at approximately $61,974,199.12. The trade was a 9.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Christopher Brian Slowe sold 14,000 shares of Reddit stock in a transaction on Monday, September 8th. The stock was sold at an average price of $236.51, for a total transaction of $3,311,140.00. Following the completion of the sale, the chief technology officer owned 210,534 shares of the company’s stock, valued at approximately $49,793,396.34. This trade represents a 6.24% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 360,126 shares of company stock valued at $73,529,359. 34.25% of the stock is owned by insiders.

Reddit Profile

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.