MGO One Seven LLC Lowers Position in Reddit Inc. $RDDT

MGO One Seven LLC cut its stake in Reddit Inc. (NYSE:RDDT) by 5.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,085 shares of the company’s stock after selling 469 shares during the quarter. MGO One Seven LLC’s holdings in Reddit were worth $1,217,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of the business. CWM LLC grew its holdings in shares of Reddit by 262.5% in the second quarter. CWM LLC now owns 928 shares of the company’s stock valued at $140,000 after acquiring an additional 672 shares in the last quarter. Vanguard Personalized Indexing Management LLC grew its holdings in shares of Reddit by 71.3% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 7,982 shares of the company’s stock valued at $1,202,000 after acquiring an additional 3,321 shares in the last quarter. Oak Ridge Investments LLC grew its holdings in shares of Reddit by 1.7% in the second quarter. Oak Ridge Investments LLC now owns 28,540 shares of the company’s stock valued at $4,297,000 after acquiring an additional 484 shares in the last quarter. Apollon Wealth Management LLC grew its holdings in shares of Reddit by 41.3% in the second quarter. Apollon Wealth Management LLC now owns 5,350 shares of the company’s stock valued at $806,000 after acquiring an additional 1,565 shares in the last quarter. Finally, SLT Holdings LLC grew its holdings in shares of Reddit by 2.6% in the second quarter. SLT Holdings LLC now owns 6,308 shares of the company’s stock valued at $950,000 after acquiring an additional 158 shares in the last quarter.

Reddit Price Performance

NYSE:RDDT opened at $200.71 on Thursday. The company has a market cap of $37.56 billion, a P/E ratio of 182.46, a P/E/G ratio of 3.00 and a beta of 2.23. The stock’s fifty day moving average price is $229.06 and its two-hundred day moving average price is $161.07. Reddit Inc. has a 1 year low of $73.59 and a 1 year high of $282.95.

Reddit (NYSE:RDDT) last posted its earnings results on Thursday, July 31st. The company reported $0.45 earnings per share (EPS) for the quarter, topping 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 business’s quarterly revenue was up 77.9% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.06) earnings per share. Reddit has set its Q3 2025 guidance at EPS. On average, analysts expect that Reddit Inc. will post 1.12 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Reddit news, COO Jennifer L. Wong sold 30,741 shares of the stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $257.28, for a total transaction of $7,909,044.48. Following the sale, the chief operating officer owned 1,295,968 shares in the company, valued at $333,426,647.04. This represents a 2.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO Christopher Brian Slowe sold 14,000 shares of the stock in a transaction on Wednesday, October 8th. The stock was sold at an average price of $200.81, for a total value of $2,811,340.00. Following the completion of the sale, the chief technology officer owned 206,534 shares in the company, valued at $41,474,092.54. This trade represents a 6.35% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 364,500 shares of company stock worth $82,549,691. Insiders own 34.25% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on RDDT. Roth Capital upped their target price on Reddit from $130.00 to $145.00 and gave the company a “neutral” rating in a report on Monday, July 21st. Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of Reddit in a report on Wednesday, October 1st. Cannonball Research reaffirmed a “buy” rating on shares of Reddit in a report on Tuesday, September 23rd. Wolfe Research upgraded Reddit to an “outperform” rating in a research note on Sunday, August 3rd. Finally, Bank of America upped their price objective on Reddit from $130.00 to $150.00 and gave the company a “neutral” rating in a research note on Wednesday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $209.50.

Reddit 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.