Fortis Capital Advisors LLC Buys New Holdings in Reddit Inc. $RDDT

Fortis Capital Advisors LLC bought a new stake in shares of Reddit Inc. (NYSE:RDDT) during the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 2,436 shares of the company’s stock, valued at approximately $367,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. CWM LLC raised its stake in Reddit by 100.0% during the 1st quarter. CWM LLC now owns 256 shares of the company’s stock valued at $27,000 after purchasing an additional 128 shares during the period. Stone House Investment Management LLC bought a new stake in Reddit during the 1st quarter valued at approximately $31,000. Geneos Wealth Management Inc. raised its stake 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 purchasing an additional 286 shares during the period. Canton Hathaway LLC bought a new stake in Reddit during the 1st quarter valued at approximately $43,000. Finally, Olde Wealth Management LLC bought a new stake in Reddit during the 1st quarter valued at approximately $46,000.

Insider Buying and Selling

In related news, CTO Christopher Brian Slowe sold 28,000 shares of the business’s stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $218.94, for a total transaction of $6,130,320.00. Following the completion of the transaction, the chief technology officer owned 222,534 shares in the company, valued at $48,721,593.96. The trade was a 11.18% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Andrew Vollero sold 30,000 shares of the business’s 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 transaction, the chief financial officer owned 284,168 shares of the company’s stock, valued at approximately $61,974,199.12. The trade was a 9.55% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 397,834 shares of company stock worth $86,512,599. 34.25% of the stock is owned by company insiders.

Reddit Stock Performance

NYSE RDDT opened at $207.24 on Friday. The company has a market cap of $38.79 billion, a P/E ratio of 188.40, a P/E/G ratio of 3.26 and a beta of 2.23. The business’s 50 day moving average price is $224.76 and its 200-day moving average price is $156.56. Reddit Inc. has a fifty-two week low of $68.80 and a fifty-two week high of $282.95.

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

Analyst Upgrades and Downgrades

RDDT has been the topic of a number of research reports. Roth Capital lifted their price objective on Reddit from $130.00 to $145.00 and gave the stock a “neutral” rating in a research note on Monday, July 21st. Wolfe Research raised Reddit to an “outperform” rating in a research note on Sunday, August 3rd. Sanford C. Bernstein lifted their price objective on Reddit from $130.00 to $150.00 and gave the stock a “market perform” rating in a research note on Tuesday, July 22nd. Citigroup reaffirmed an “outperform” rating on shares of Reddit in a research note on Thursday, September 18th. Finally, Guggenheim lifted their price objective on Reddit from $165.00 to $215.00 and gave the stock a “buy” rating in a research note on Friday, August 1st. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Reddit presently has a consensus rating of “Moderate Buy” and an average price target of $201.58.

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.