Kingsview Wealth Management LLC Purchases 1,333 Shares of Reddit Inc. $RDDT

Kingsview Wealth Management LLC grew its position in Reddit Inc. (NYSE:RDDT) by 23.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,983 shares of the company’s stock after purchasing an additional 1,333 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Reddit were worth $1,051,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the company. Resona Asset Management Co. Ltd. raised its stake in Reddit by 0.3% during the second quarter. Resona Asset Management Co. Ltd. now owns 20,201 shares of the company’s stock worth $3,023,000 after buying an additional 65 shares during the last quarter. Congress Park Capital LLC grew its holdings in Reddit by 2.0% during the 2nd quarter. Congress Park Capital LLC now owns 3,885 shares of the company’s stock worth $585,000 after acquiring an additional 76 shares during the period. Platinum Investment Management Ltd. grew its holdings in Reddit by 4.3% during the 2nd quarter. Platinum Investment Management Ltd. now owns 2,322 shares of the company’s stock worth $350,000 after acquiring an additional 95 shares during the period. CWM LLC raised its position in shares of Reddit by 100.0% in the 1st quarter. CWM LLC now owns 256 shares of the company’s stock worth $27,000 after acquiring an additional 128 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its position in shares of Reddit by 12.5% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 1,323 shares of the company’s stock valued at $139,000 after purchasing an additional 147 shares in the last quarter.

Analysts Set New Price Targets

RDDT has been the subject of a number of research analyst reports. Raymond James Financial reiterated a “strong-buy” rating and issued a $250.00 target price (up from $225.00) on shares of Reddit in a report on Monday, October 20th. Needham & Company LLC restated a “buy” rating and set a $300.00 price target on shares of Reddit in a report on Friday, October 31st. Bank of America raised their price objective on shares of Reddit from $180.00 to $210.00 and gave the stock a “neutral” rating in a research report on Friday, October 31st. Guggenheim boosted their target price on shares of Reddit from $165.00 to $215.00 and gave the company a “buy” rating in a research report on Friday, August 1st. Finally, Wolfe Research raised shares of Reddit to an “outperform” rating in a research note on Sunday, August 3rd. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Reddit currently has an average rating of “Moderate Buy” and a consensus target price of $226.33.

Insider Activity at Reddit

In other news, CFO Andrew Vollero sold 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was 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 in the company, valued at $61,974,199.12. This trade represents a 9.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Jennifer L. Wong sold 40,967 shares of Reddit stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $220.38, for a total value of $9,028,307.46. Following the transaction, the chief operating officer directly owned 120,033 shares in the company, valued at approximately $26,452,872.54. The trade was a 25.45% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 377,747 shares of company stock valued at $83,344,757. 34.25% of the stock is owned by corporate insiders.

Reddit Trading Up 1.3%

NYSE RDDT opened at $188.10 on Thursday. The company has a market cap of $35.64 billion, a P/E ratio of 108.10, a PEG ratio of 2.05 and a beta of 2.14. The company has a fifty day simple moving average of $214.94 and a 200 day simple moving average of $178.56. Reddit Inc. has a 12-month low of $79.75 and a 12-month high of $282.95.

Reddit (NYSE:RDDT) last released its quarterly earnings data on Thursday, October 30th. The company reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.30. The firm had revenue of $584.91 million for the quarter, compared to analyst estimates of $546.65 million. Reddit had a net margin of 18.33% and a return on equity of 14.94%. The business’s quarterly revenue was up 67.9% compared to the same quarter last year. During the same period last year, the firm earned $0.16 earnings per share. Reddit has set its Q4 2025 guidance at EPS. Sell-side analysts predict that Reddit Inc. will post 1.12 EPS for the current year.

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.