Allworth Financial LP Boosts Stock Position in Reddit Inc. $RDDT

Allworth Financial LP lifted its holdings in shares of Reddit Inc. (NYSE:RDDT) by 573.3% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,313 shares of the company’s stock after purchasing an additional 1,118 shares during the period. Allworth Financial LP’s holdings in Reddit were worth $198,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in the business. CWM LLC boosted its position in Reddit by 100.0% during the first quarter. CWM LLC now owns 256 shares of the company’s stock valued at $27,000 after buying an additional 128 shares during the period. Stone House Investment Management LLC purchased a new position in shares of Reddit in the first quarter worth about $31,000. Financial Perspectives Inc bought a new stake in shares of Reddit in the 2nd quarter valued at about $34,000. Geneos Wealth Management Inc. boosted its holdings in Reddit by 344.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 369 shares of the company’s stock valued at $39,000 after acquiring an additional 286 shares during the period. Finally, Western Pacific Wealth Management LP purchased a new stake in Reddit during the 2nd quarter valued at about $60,000.

Reddit Trading Down 1.1%

Shares of RDDT stock opened at $185.42 on Wednesday. The company’s fifty day moving average price is $216.35 and its 200-day moving average price is $178.49. The stock has a market cap of $35.14 billion, a PE ratio of 106.56, a price-to-earnings-growth ratio of 2.07 and a beta of 2.14. Reddit Inc. has a 12 month low of $79.75 and a 12 month high of $282.95.

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 $584.91 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. On average, sell-side analysts forecast that Reddit Inc. will post 1.12 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Robert W. Baird boosted their price objective on Reddit from $177.00 to $240.00 and gave the company a “neutral” rating in a research report on Thursday, September 25th. Zacks Research raised shares of Reddit from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 29th. Jefferies Financial Group upped their price target on shares of Reddit from $230.00 to $300.00 and gave the company a “buy” rating in a report on Wednesday, September 10th. JMP Securities reissued a “market outperform” rating and set a $300.00 price target on shares of Reddit in a research report on Friday, October 3rd. Finally, Argus initiated coverage on shares of Reddit in a report on Monday, August 18th. They issued a “buy” rating and a $250.00 price target on the stock. Three research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, Reddit has a consensus rating of “Moderate Buy” and a consensus target price of $226.33.

Insider Buying and Selling at Reddit

In other news, CTO Christopher Brian Slowe sold 28,000 shares of the firm’s stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $218.94, for a total value of $6,130,320.00. Following the transaction, the chief technology officer owned 222,534 shares of the company’s stock, valued at $48,721,593.96. This trade represents a 11.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Jennifer L. Wong sold 40,967 shares of the company’s stock in a transaction on 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 transaction, the chief operating officer owned 120,033 shares of the company’s stock, valued at approximately $26,452,872.54. This represents a 25.45% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 405,747 shares of company stock worth $89,475,077 over the last quarter. Company insiders own 34.25% of the company’s stock.

Reddit Company 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.