Private Trust Co. NA Invests $310,000 in Reddit Inc. $RDDT

Private Trust Co. NA purchased a new position in shares of Reddit Inc. (NYSE:RDDT) in the second quarter, HoldingsChannel reports. The fund purchased 2,058 shares of the company’s stock, valued at approximately $310,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Reddit by 11.1% during the first quarter. Vanguard Group Inc. now owns 10,198,552 shares of the company’s stock worth $1,069,828,000 after buying an additional 1,017,162 shares in the last quarter. Alliancebernstein L.P. grew its holdings in shares of Reddit by 103.0% during the first quarter. Alliancebernstein L.P. now owns 5,659,990 shares of the company’s stock worth $593,733,000 after buying an additional 2,871,232 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its holdings in shares of Reddit by 10.6% during the first quarter. T. Rowe Price Investment Management Inc. now owns 4,073,939 shares of the company’s stock worth $427,357,000 after buying an additional 389,761 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Reddit by 98.2% during the first quarter. JPMorgan Chase & Co. now owns 1,907,495 shares of the company’s stock worth $200,096,000 after buying an additional 944,847 shares in the last quarter. Finally, Scge Management L.P. grew its holdings in shares of Reddit by 121.1% during the first quarter. Scge Management L.P. now owns 1,612,000 shares of the company’s stock worth $169,099,000 after buying an additional 883,000 shares in the last quarter.

Insider Buying and Selling at Reddit

In other Reddit news, CEO Steve Ladd Huffman sold 18,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $200.53, for a total transaction of $3,609,540.00. Following the completion of the sale, the chief executive officer directly owned 494,104 shares in the company, valued at $99,082,675.12. The trade was a 3.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Christopher Brian Slowe sold 14,000 shares of the business’s stock in a transaction on Wednesday, October 8th. The stock was sold at an average price of $200.81, for a total transaction of $2,811,340.00. Following the transaction, the chief technology officer directly owned 206,534 shares in the company, valued at approximately $41,474,092.54. The trade was a 6.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 366,500 shares of company stock valued at $83,829,951 in the last ninety days. Corporate insiders own 34.25% of the company’s stock.

Reddit Stock Up 4.0%

RDDT opened at $202.66 on Tuesday. Reddit Inc. has a 52-week low of $76.54 and a 52-week high of $282.95. The company has a 50 day moving average of $228.03 and a two-hundred day moving average of $163.94. The company has a market cap of $37.93 billion, a P/E ratio of 184.24, a P/E/G ratio of 2.98 and a beta of 2.23.

Reddit (NYSE:RDDT) last released its quarterly earnings data 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. Reddit had a net margin of 12.97% and a return on equity of 9.93%. The company had revenue of $499.63 million during the quarter, compared to the consensus estimate of $424.07 million. During the same period in the previous year, the firm earned ($0.06) earnings per share. Reddit’s revenue for the quarter was up 77.9% on a year-over-year basis. Reddit has set its Q3 2025 guidance at EPS. Research analysts anticipate that Reddit Inc. will post 1.12 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Weiss Ratings restated a “hold (c-)” rating on shares of Reddit in a report on Wednesday, October 8th. The Goldman Sachs Group restated a “neutral” rating and issued a $236.00 target price on shares of Reddit in a report on Tuesday, October 14th. Sanford C. Bernstein boosted their target price on shares of Reddit from $130.00 to $150.00 and gave the company a “market perform” rating in a report on Tuesday, July 22nd. Needham & Company LLC boosted their target price on shares of Reddit from $215.00 to $300.00 and gave the company a “buy” rating in a report on Monday, September 15th. Finally, Guggenheim boosted their target price on shares of Reddit from $165.00 to $215.00 and gave the company a “buy” rating in a report on Friday, August 1st. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $210.54.

About Reddit

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.