Militia Capital Management LLC bought a new stake in Reddit Inc. (NYSE:RDDT – Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 17,662 shares of the company’s stock, valued at approximately $2,378,000.
Several other large investors also recently bought and sold shares of the business. PNC Financial Services Group Inc. increased its position in Reddit by 6.5% in the first quarter. PNC Financial Services Group Inc. now owns 6,445 shares of the company’s stock worth $868,000 after purchasing an additional 393 shares during the last quarter. Andra AP fonden lifted its position in Reddit by 152.6% during the first quarter. Andra AP fonden now owns 172,100 shares of the company’s stock valued at $23,173,000 after purchasing an additional 103,972 shares during the last quarter. Cassaday & Co Wealth Management LLC bought a new position in Reddit during the first quarter valued at $46,000. Johnson Financial Group Inc. purchased a new position in shares of Reddit in the 1st quarter worth $195,000. Finally, Meeder Advisory Services Inc. grew its stake in shares of Reddit by 7.4% in the 1st quarter. Meeder Advisory Services Inc. now owns 1,544 shares of the company’s stock worth $208,000 after buying an additional 107 shares in the last quarter.
Reddit News Summary
Here are the key news stories impacting Reddit this week:
- Negative Sentiment: Investors are worried Reddit could restrict Google’s access to its content for AI training, creating uncertainty around a key licensing agreement and raising questions about future monetization. Reddit stock sinks on report it may not renew Google AI content deal
- Negative Sentiment: The market also sees a risk that Google’s AI-generated overviews could reduce traffic referrals to Reddit, which would be a headwind for ad-driven engagement and revenue growth. Reddit stock plunges on report of possible Google content restrictions
- Negative Sentiment: Technical pressure is adding to the selloff, with the stock falling below key moving averages and momentum weakening ahead of Reddit’s next earnings report on July 30. Reddit stock sinks below key moving averages as momentum fades
- Neutral Sentiment: Recent commentary also notes that no new filing or operating update appears to be driving the move, suggesting this is mainly a sentiment-driven reaction to the Google/AI licensing narrative. Reddit slides as Google AI data-deal uncertainty revives traffic worries
Insider Buying and Selling
Reddit Stock Down 8.3%
RDDT stock opened at $170.38 on Thursday. Reddit Inc. has a twelve month low of $119.27 and a twelve month high of $282.95. The stock has a market capitalization of $32.80 billion, a price-to-earnings ratio of 48.68 and a beta of 1.93. The firm’s fifty day simple moving average is $174.21 and its two-hundred day simple moving average is $168.20.
Reddit (NYSE:RDDT – Get Free Report) last released its earnings results on Thursday, April 30th. The company reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.39. Reddit had a net margin of 28.60% and a return on equity of 25.48%. The firm had revenue of $663.41 million during the quarter, compared to analyst estimates of $607.74 million. During the same quarter last year, the business earned $0.13 EPS. The business’s revenue was up 69.1% on a year-over-year basis. As a group, equities research analysts expect that Reddit Inc. will post 4.85 EPS for the current year.
Analyst Upgrades and Downgrades
A number of analysts have recently weighed in on RDDT shares. Zacks Research downgraded shares of Reddit from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 3rd. Oppenheimer reaffirmed an “outperform” rating and issued a $225.00 price target on shares of Reddit in a report on Friday, May 1st. Citizens Jmp dropped their price target on Reddit from $250.00 to $240.00 and set a “market outperform” rating for the company in a research report on Friday, May 1st. Wall Street Zen cut Reddit from a “buy” rating to a “hold” rating in a research note on Sunday, May 10th. Finally, Citigroup restated a “market outperform” rating on shares of Reddit in a research report on Tuesday, May 26th. Nineteen analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $232.48.
Get Our Latest Stock Analysis on Reddit
About Reddit
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.
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