6,000 Shares in Reddit Inc. $RDDT Bought by Monetta Financial Services Inc.

Monetta Financial Services Inc. acquired a new position in Reddit Inc. (NYSE:RDDT) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 6,000 shares of the company’s stock, valued at approximately $1,041,000.

Several other hedge funds also recently added to or reduced their stakes in RDDT. Vanguard Group Inc. raised its stake in shares of Reddit by 8.9% during the fourth quarter. Vanguard Group Inc. now owns 13,322,048 shares of the company’s stock valued at $3,062,339,000 after acquiring an additional 1,083,540 shares in the last quarter. Capital World Investors acquired a new stake in Reddit in the 4th quarter worth approximately $1,293,258,000. State Street Corp grew its stake in Reddit by 6.0% during the 4th quarter. State Street Corp now owns 2,631,332 shares of the company’s stock valued at $604,864,000 after purchasing an additional 149,401 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Reddit by 4.7% in the 4th quarter. Geode Capital Management LLC now owns 2,382,712 shares of the company’s stock valued at $546,789,000 after acquiring an additional 106,821 shares during the last quarter. Finally, Morgan Stanley boosted its stake in shares of Reddit by 11.4% in the fourth quarter. Morgan Stanley now owns 2,372,443 shares of the company’s stock worth $545,354,000 after buying an additional 242,709 shares during the last quarter.

Trending Headlines about Reddit

Here are the key news stories impacting Reddit this week:

• Positive Sentiment: Reddit’s inclusion in the S&P 500 should improve its visibility and may create ongoing demand from index-tracking funds. Analysts remain broadly constructive, with reported average price targets above recent trading levels. Reddit Stock Falls Ahead of Joining the S&P 500
• Positive Sentiment: Reddit’s advertising business continues to be viewed as a major growth driver. Rapid ad growth and an expanding advertiser base could give the company an advantage over Meta Platforms, although RDDT carries a richer valuation. RDDT vs. META: Which Digital Advertising Stock Has an Edge Right Now?
• Neutral Sentiment: Recent commentary cautions that the S&P 500 “index effect” may be less powerful than expected because much of the buying could have occurred before the effective inclusion date. The event may therefore support visibility without producing a sustained rally. Reddit: Curb Your Enthusiasm About The Index Effect
• Neutral Sentiment: Reddit recently delivered strong quarterly results, including revenue growth of 61% year over year and earnings above consensus estimates. However, investors are now focused more on whether that growth can continue amid market concerns. RDDT Stock Dips Premarket As S&P 500 Inclusion Boost Wanes
• Negative Sentiment: Search-traffic risks are weighing on the outlook. Any decline in visits originating from search engines could reduce user growth, engagement and the inventory available for advertising. Search Traffic Risks for Reddit
• Negative Sentiment: CEO Steve Huffman sold 18,000 shares and COO Jennifer Wong sold 75,000 shares in transactions conducted under pre-arranged Rule 10b5-1 plans. The planned sales reduce their significance, but insider selling can still pressure investor sentiment. SEC filing for Jennifer Wong share sale SEC filing for Steve Huffman share sale

Insider Activity

In related news, COO Jennifer L. Wong sold 75,000 shares of the firm’s stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $178.55, for a total transaction of $13,391,250.00. Following the completion of the sale, the chief operating officer directly owned 1,050,339 shares in the company, valued at approximately $187,538,028.45. This trade represents a 6.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at 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 transaction of $161,600.00. Following the transaction, the chief accounting officer owned 15,060 shares in the company, valued at approximately $3,012,000. The trade was a 5.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 204,974 shares of company stock valued at $36,025,162. 28.48% of the stock is currently owned by insiders.

Reddit Stock Performance

Shares of NYSE:RDDT opened at $151.77 on Thursday. The business’s fifty day moving average price is $174.35 and its two-hundred day moving average price is $158.71. The stock has a market cap of $29.20 billion, a PE ratio of 35.30, a price-to-earnings-growth ratio of 0.53 and a beta of 2.03. Reddit Inc. has a one year low of $119.27 and a one year high of $282.95.

Reddit (NYSE:RDDT) last issued its earnings results on Thursday, July 30th. The company reported $1.25 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.30. Reddit had a return on equity of 29.02% and a net margin of 31.35%.The business had revenue of $804.91 million for the quarter, compared to analyst estimates of $731.00 million. During the same period last year, the company posted $0.45 EPS. The business’s quarterly revenue was up 61.0% on a year-over-year basis. As a group, equities research analysts predict that Reddit Inc. will post 5.22 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on RDDT. Wells Fargo & Company lowered their price target on Reddit from $187.00 to $142.00 and set an “equal weight” rating on the stock in a research note on Friday, July 31st. Cantor Fitzgerald lowered their price objective on shares of Reddit from $200.00 to $170.00 and set a “neutral” rating for the company in a research note on Friday, July 31st. The Goldman Sachs Group reiterated a “neutral” rating and issued a $200.00 price objective on shares of Reddit in a research note on Friday, May 1st. Telsey Advisory Group set a $240.00 target price on Reddit in a report on Friday, July 31st. Finally, Deutsche Bank Aktiengesellschaft set a $200.00 price target on shares of Reddit in a research note on Friday, July 31st. Three equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat, Reddit presently has a consensus rating of “Moderate Buy” and a consensus price target of $221.71.

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.