Reddit Inc. $RDDT Shares Sold by Penserra Capital Management LLC

Penserra Capital Management LLC trimmed its holdings in Reddit Inc. (NYSE:RDDT) by 98.3% during the second quarter, HoldingsChannel.com reports. The fund owned 591 shares of the company’s stock after selling 33,657 shares during the period. Penserra Capital Management LLC’s holdings in Reddit were worth $88,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently bought and sold shares of the business. CWM LLC increased its stake in Reddit by 100.0% in the first 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 purchased a new position in shares of Reddit during the first quarter worth about $31,000. Financial Perspectives Inc acquired a new position in Reddit in the 2nd quarter valued at about $34,000. 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 acquiring an additional 286 shares during the last quarter. Finally, Western Pacific Wealth Management LP acquired a new stake in Reddit during the 2nd quarter worth approximately $60,000.

Analyst Upgrades and Downgrades

RDDT has been the topic of a number of recent research reports. Jefferies Financial Group boosted their target price on Reddit from $230.00 to $300.00 and gave the company a “buy” rating in a report on Wednesday, September 10th. Weiss Ratings reissued a “hold (c-)” rating on shares of Reddit in a research note on Wednesday, October 8th. JPMorgan Chase & Co. upped their price objective on shares of Reddit from $190.00 to $227.00 and gave the stock a “neutral” rating in a research report on Friday, October 31st. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $250.00 target price (up previously from $225.00) on shares of Reddit in a report on Monday, October 20th. Finally, Wolfe Research upgraded shares of Reddit to an “outperform” rating in a research note on Sunday, August 3rd. Three research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $226.33.

Insider Buying and Selling

In other Reddit news, COO Jennifer L. Wong sold 30,659 shares of the company’s stock in a transaction on Thursday, October 23rd. The stock was sold at an average price of $201.82, for a total value of $6,187,599.38. Following the sale, the chief operating officer owned 1,295,968 shares of the company’s stock, valued at approximately $261,552,261.76. This represents a 2.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Steve Ladd Huffman sold 13,911 shares of the firm’s stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $189.33, for a total value of $2,633,769.63. Following the completion of the transaction, the chief executive officer owned 498,193 shares of the company’s stock, valued at approximately $94,322,880.69. This represents a 2.72% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 420,126 shares of company stock worth $93,805,834 in the last quarter. Company insiders own 34.25% of the company’s stock.

Reddit Stock Down 6.6%

Shares of RDDT opened at $189.51 on Friday. Reddit Inc. has a 52-week low of $79.75 and a 52-week high of $282.95. The company has a 50-day simple moving average of $219.24 and a 200-day simple moving average of $176.19. The company has a market capitalization of $35.91 billion, a PE ratio of 108.91, a P/E/G ratio of 2.23 and a beta of 2.14.

Reddit (NYSE:RDDT) last issued its earnings results on Thursday, October 30th. The company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.30. Reddit had a net margin of 18.33% and a return on equity of 14.94%. The company had revenue of $584.91 million for the quarter, compared to analyst estimates of $546.65 million. During the same period in the prior year, the business posted $0.16 earnings per share. The firm’s revenue for the quarter was up 67.9% compared to the same quarter last year. Reddit has set its Q4 2025 guidance at EPS. On average, research analysts anticipate that Reddit Inc. will post 1.12 EPS 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.