Cookson Peirce & Co. Inc. Sells 3,995 Shares of Reddit Inc. $RDDT

Cookson Peirce & Co. Inc. trimmed its stake in Reddit Inc. (NYSE:RDDT) by 2.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 167,068 shares of the company’s stock after selling 3,995 shares during the period. Cookson Peirce & Co. Inc.’s holdings in Reddit were worth $25,155,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of RDDT. Alliancebernstein L.P. lifted its stake in shares of Reddit by 103.0% in the 1st quarter. Alliancebernstein L.P. now owns 5,659,990 shares of the company’s stock valued at $593,733,000 after purchasing an additional 2,871,232 shares during the last quarter. Nordea Investment Management AB lifted its stake in shares of Reddit by 21,703.0% in the 2nd quarter. Nordea Investment Management AB now owns 1,060,935 shares of the company’s stock valued at $164,021,000 after purchasing an additional 1,056,069 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Reddit by 11.1% in the 1st quarter. Vanguard Group Inc. now owns 10,198,552 shares of the company’s stock valued at $1,069,828,000 after purchasing an additional 1,017,162 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Reddit by 98.2% in the 1st quarter. JPMorgan Chase & Co. now owns 1,907,495 shares of the company’s stock valued at $200,096,000 after purchasing an additional 944,847 shares during the last quarter. Finally, Scge Management L.P. lifted its stake in shares of Reddit by 121.1% in the 1st quarter. Scge Management L.P. now owns 1,612,000 shares of the company’s stock valued at $169,099,000 after purchasing an additional 883,000 shares during the last quarter.

Insider Transactions at Reddit

In other news, CTO Christopher Brian Slowe sold 28,000 shares of Reddit stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $218.94, for a total value of $6,130,320.00. Following the transaction, the chief technology officer directly owned 222,534 shares in the company, valued at approximately $48,721,593.96. This trade represents a 11.18% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Steve Ladd Huffman sold 18,000 shares of Reddit stock in a transaction on Friday, August 29th. The shares were sold at an average price of $223.41, for a total value of $4,021,380.00. Following the completion of the transaction, the chief executive officer owned 494,104 shares in the company, valued at $110,387,774.64. This represents a 3.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 366,500 shares of company stock valued at $83,829,951. Company insiders own 34.25% of the company’s stock.

Analyst Upgrades and Downgrades

RDDT has been the subject of several analyst reports. Wolfe Research raised Reddit to an “outperform” rating in a research note on Sunday, August 3rd. Roth Capital raised their price objective on Reddit from $130.00 to $145.00 and gave the company a “neutral” rating in a research note on Monday, July 21st. Bank of America raised their price target on Reddit from $130.00 to $150.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 30th. Morgan Stanley raised their price target on Reddit from $170.00 to $230.00 and gave the stock an “overweight” rating in a research note on Friday, August 1st. Finally, Guggenheim raised their price target on Reddit from $165.00 to $215.00 and gave the stock a “buy” rating in a research note on Friday, August 1st. Two investment 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 given a Sell rating to the company’s stock. According to MarketBeat.com, Reddit currently has a consensus rating of “Moderate Buy” and a consensus price target of $214.17.

Reddit Stock Up 1.5%

RDDT opened at $205.60 on Wednesday. The stock’s fifty day moving average is $227.66 and its two-hundred day moving average is $164.23. The company has a market capitalization of $38.48 billion, a P/E ratio of 186.91, a PEG ratio of 3.09 and a beta of 2.23. Reddit Inc. has a 52 week low of $76.54 and a 52 week high of $282.95.

Reddit (NYSE:RDDT) last released its quarterly earnings data on Thursday, July 31st. The company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.20 by $0.25. The company 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%.Reddit’s quarterly revenue was up 77.9% on a year-over-year basis. During the same period last year, the business posted ($0.06) EPS. Reddit has set its Q3 2025 guidance at EPS. Equities analysts anticipate that Reddit Inc. will post 1.12 earnings per share for the current year.

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.