Kestra Advisory Services LLC Increases Position in Reddit Inc. $RDDT

Kestra Advisory Services LLC increased its position in shares of Reddit Inc. (NYSE:RDDT) by 20.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & 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 also recently added to or reduced their stakes in RDDT. LOM Asset Management Ltd purchased a new position in shares of Reddit in the fourth quarter worth about $33,000. Noble Wealth Management PBC acquired a new position in shares of Reddit in the fourth quarter worth about $34,000. Summit Securities Group LLC acquired a new position in Reddit in the 4th quarter worth about $46,000. Sound Income Strategies LLC acquired a new position in shares of Reddit during the 4th quarter worth approximately $47,000. Finally, ORG Partners LLC raised its position in Reddit by 105.9% during the fourth quarter. ORG Partners LLC now owns 208 shares of the company’s stock worth $48,000 after acquiring an additional 107 shares during the period.

Wall Street Analysts Forecast Growth

RDDT has been the subject of several recent research reports. Cantor Fitzgerald increased their price objective on Reddit from $170.00 to $180.00 and gave the company a “neutral” rating in a research note on Friday, May 1st. Loop Capital reaffirmed a “buy” rating and set a $260.00 price target on shares of Reddit in a research report on Thursday, June 4th. Truist Financial set a $265.00 price objective on shares of Reddit in a report on Friday, May 1st. Wall Street Zen lowered Reddit from a “buy” rating to a “hold” rating in a research report on Sunday, May 10th. Finally, Citizens Jmp reduced their price target on shares of Reddit from $250.00 to $240.00 and set a “market outperform” rating on the stock in a research report on Friday, May 1st. Nineteen analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat.com, Reddit currently has an average rating of “Moderate Buy” and an average target price of $231.79.

Reddit Price Performance

Shares of NYSE:RDDT opened at $181.91 on Friday. Reddit Inc. has a 1-year low of $119.27 and a 1-year high of $282.95. The stock has a market cap of $35.02 billion, a P/E ratio of 51.97 and a beta of 1.93. The firm has a fifty day moving average price of $172.78 and a 200 day moving average price of $169.74.

Reddit (NYSE:RDDT) last posted its quarterly earnings data on Thursday, April 30th. The company reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.39. Reddit had a net margin of 28.60% and a return on equity of 25.48%. The firm had revenue of $663.41 million for the quarter, compared to analyst estimates of $607.74 million. During the same period last year, the firm posted $0.13 EPS. Reddit’s quarterly revenue was up 69.1% on a year-over-year basis. Sell-side analysts expect that Reddit Inc. will post 4.83 EPS for the current fiscal year.

Insider Activity at Reddit

In other news, CAO Michelle Marie Reynolds sold 808 shares of the stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $200.00, for a total value of $161,600.00. Following the sale, the chief accounting officer directly owned 15,060 shares in the company, valued at $3,012,000. This represents a 5.09% decrease in their ownership of the stock. The transaction 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, COO Jennifer L. Wong sold 39,166 shares of the stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $176.94, for a total value of $6,930,032.04. Following the sale, the chief operating officer directly owned 1,050,339 shares in the company, valued at approximately $185,846,982.66. The trade was a 3.59% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 169,141 shares of company stock valued at $28,680,845. Insiders own 28.48% of the company’s stock.

Reddit News Summary

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

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.