Reddit Inc. $RDDT Position Raised by SteelPeak Wealth LLC

Posted by Brenda Bartman on Jul 19th, 2026

SteelPeak Wealth LLC boosted its position in Reddit Inc. (NYSE:RDDT – Free Report) by 177.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,741 shares of the company’s stock after purchasing an additional 4,308 shares during the period. SteelPeak Wealth LLC’s holdings in Reddit were worth $908,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in RDDT. LOM Asset Management Ltd acquired a new position in shares of Reddit during the 4th quarter valued at $33,000. Noble Wealth Management PBC acquired a new stake in shares of Reddit in the fourth quarter valued at $34,000. Summit Securities Group LLC acquired a new stake in shares of Reddit in the fourth quarter valued at $46,000. Sound Income Strategies LLC bought a new position in Reddit during the fourth quarter valued at about $47,000. Finally, ORG Partners LLC boosted its stake in Reddit by 105.9% during the fourth quarter. ORG Partners LLC now owns 208 shares of the company’s stock valued at $48,000 after buying an additional 107 shares in the last quarter.

Reddit Stock Down 1.8%

Shares of NYSE RDDT opened at $181.91 on Friday. The stock has a market capitalization of $35.02 billion, a price-to-earnings ratio of 51.97 and a beta of 1.93. The stock’s fifty day simple moving average is $172.78 and its 200 day simple moving average is $169.74. Reddit Inc. has a 52-week low of $119.27 and a 52-week high of $282.95.

Reddit (NYSE:RDDT – Get Free Report) last announced its earnings results on Thursday, April 30th. The company reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.39. Reddit had a return on equity of 25.48% and a net margin of 28.60%.The company had revenue of $663.41 million for the quarter, compared to analyst estimates of $607.74 million. During the same period in the previous year, the firm earned $0.13 earnings per share. Reddit’s revenue for the quarter was up 69.1% compared to the same quarter last year. As a group, analysts anticipate that Reddit Inc. will post 4.85 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on RDDT. Wells Fargo & Company lifted their target price on Reddit from $176.00 to $187.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 7th. Bank of America cut their price target on shares of Reddit from $205.00 to $175.00 and set a “neutral” rating for the company in a report on Thursday, April 2nd. Raymond James Financial set a $180.00 price objective on shares of Reddit and gave the company a “market perform” rating in a research report on Friday, May 1st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Reddit in a research note on Friday, May 8th. Finally, Wall Street Zen downgraded shares of Reddit from a “buy” rating to a “hold” rating in a report on Sunday, May 10th. Nineteen investment analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $231.79.

Check Out Our Latest Stock Analysis on RDDT

Insider Buying and Selling

In other Reddit news, COO Jennifer L. Wong sold 39,167 shares of the company’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $158.52, for a total transaction of $6,208,752.84. Following the completion of the sale, the chief operating officer directly owned 1,088,451 shares of the company’s stock, valued at approximately $172,541,252.52. This represents a 3.47% 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. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Michelle Marie Reynolds sold 808 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $200.00, for a total transaction of $161,600.00. Following the completion of the transaction, the chief accounting officer owned 15,060 shares of the company’s stock, valued at approximately $3,012,000. The trade was a 5.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 169,141 shares of company stock valued at $28,680,845. 28.48% of the stock is owned by corporate insiders.

Key Headlines Impacting Reddit

Here are the key news stories impacting Reddit this week:

Positive Sentiment: Wedbush initiated coverage on Reddit with an Outperform rating and a $250 price target, signaling strong confidence in the company’s long-term monetization potential. Benzinga article on Wedbush coverage
Positive Sentiment: Analysts highlighted Reddit’s AI initiative, including partnerships, platform upgrades, and ad tools, as a growing driver of revenue and engagement. Zacks article on Reddit AI initiative
Positive Sentiment: Jefferies said Reddit could beat second-quarter revenue and EBITDA expectations thanks to strong ad checks and improving user growth, which would support the bullish earnings narrative. Proactive Investors article on earnings beat potential
Positive Sentiment: Several reports suggested Reddit stock may be undervalued relative to its AI and ad-growth outlook, with one piece citing as much as 47% upside based on those themes. Yahoo Finance article on undervaluation
Neutral Sentiment: One article noted that analysts are still mixed on Reddit and other communication-services names, suggesting the stock may remain volatile as sentiment varies. The Globe and Mail article on conflicted analysts
Negative Sentiment: Reddit also saw coverage around a recent selloff and questions about why the stock fell more than the broader market, indicating some traders are still taking profits after a strong run. Zacks article on recent decline

Reddit Profile

(Free Report)

Reddit is an online social news aggregation, discussion and content-sharing platform organized around user-created communities called “subreddits,” each focused on a particular topic or interest. Registered users submit links, text posts, images and video, and community members vote and comment to surface popular content. The site is accessed via its web platform and mobile apps for iOS and Android, and it supports live events such as Ask Me Anything (AMA) sessions and community-driven discussions.

Founded in 2005 by Steve Huffman and Alexis Ohanian, Reddit is headquartered in San Francisco and serves a global audience with particularly large user bases in the United States and other English-speaking markets.