Reddit Inc. $RDDT Shares Purchased by QRG Capital Management Inc.

QRG Capital Management Inc. raised its position in shares of Reddit Inc. (NYSE:RDDT) by 183.3% in the first quarter, Holdings Channel.com reports. The fund owned 10,253 shares of the company’s stock after buying an additional 6,634 shares during the quarter. QRG Capital Management Inc.’s holdings in Reddit were worth $1,381,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in RDDT. HB Wealth Management LLC lifted its stake in shares of Reddit by 147.3% in the 1st quarter. HB Wealth Management LLC now owns 3,057 shares of the company’s stock valued at $412,000 after purchasing an additional 1,821 shares in the last quarter. PFG Investments LLC purchased a new stake in shares of Reddit during the 1st quarter worth about $500,000. Argos Wealth Advisors LLC increased its position in Reddit by 58.5% during the 1st quarter. Argos Wealth Advisors LLC now owns 1,771 shares of the company’s stock worth $238,000 after purchasing an additional 654 shares in the last quarter. Sierra Summit Advisors LLC raised its holdings in Reddit by 92.9% in the first quarter. Sierra Summit Advisors LLC now owns 75,536 shares of the company’s stock valued at $10,171,000 after buying an additional 36,371 shares during the period. Finally, Y Intercept Hong Kong Ltd raised its holdings in Reddit by 1,498.6% in the first quarter. Y Intercept Hong Kong Ltd now owns 84,404 shares of the company’s stock valued at $11,365,000 after buying an additional 79,124 shares during the period.

Reddit Trading Down 0.8%

Shares of RDDT stock opened at $199.32 on Wednesday. The company has a market capitalization of $38.37 billion, a PE ratio of 56.95 and a beta of 1.93. The firm has a fifty day simple moving average of $166.78 and a 200-day simple moving average of $171.23. Reddit Inc. has a twelve month low of $119.27 and a twelve month high of $282.95.

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

Reddit News Roundup

Here are the key news stories impacting Reddit this week:

• Positive Sentiment: Wells Fargo raised its price target on Reddit to $187 from $176, reinforcing a constructive view on the stock and helping support bullish momentum after a recent rally. Wells Fargo raises target on Reddit
• Positive Sentiment: Reddit is expanding its AI licensing business, which investors may view as an additional revenue stream tied to demand for its content in the AI ecosystem. Reddit expands AI licensing
• Positive Sentiment: The company is accelerating AI safety and anti-spam efforts, including stronger bot detection and human verification, which could improve user trust and protect the quality of Reddit conversations. Reddit AI safety drive accelerates
• Neutral Sentiment: Coverage on Reddit’s recent rally highlights technical strength and potential upside levels, but it is mostly a trading-focused read rather than a new fundamental catalyst. Options Corner video on RDDT
• Neutral Sentiment: Insider selling by the company’s CAO was disclosed, but the transaction was small and occurred under a pre-arranged 10b5-1 plan, making it less likely to signal a major change in outlook. Reddit CAO sells stock
• Negative Sentiment: Despite the higher target, Wells Fargo still rates Reddit “equal weight,” implying the stock may be close to fairly valued rather than dramatically undervalued at current levels. Wells Fargo equal weight rating on Reddit

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on RDDT shares. DA Davidson reiterated a “buy” rating and set a $200.00 price objective on shares of Reddit in a research note on Friday, May 1st. Piper Sandler reiterated an “overweight” rating and issued a $215.00 price target (up from $205.00) on shares of Reddit in a report on Friday, May 1st. Oppenheimer reissued an “outperform” rating and issued a $225.00 price objective on shares of Reddit in a research report on Friday, May 1st. Wall Street Zen cut Reddit from a “buy” rating to a “hold” rating in a research note on Sunday, May 10th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $300.00 target price on shares of Reddit in a research report on Wednesday, June 24th. Eighteen research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. According to data from MarketBeat.com, Reddit has an average rating of “Moderate Buy” and a consensus target price of $231.14.

Insider Transactions at Reddit

In other Reddit news, CEO Steve Ladd Huffman sold 18,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $173.13, for a total transaction of $3,116,340.00. Following the completion of the sale, the chief executive officer owned 373,814 shares in the company, valued at $64,718,417.82. This trade represents a 4.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 Reddit stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $200.00, for a total value of $161,600.00. Following the sale, the chief accounting officer owned 15,060 shares in the company, valued at $3,012,000. This represents a 5.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 226,308 shares of company stock valued at $37,856,340. 28.48% of the stock is currently owned by insiders.

About Reddit

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.