Cumberland Partners Ltd purchased a new position in Reddit Inc. (NYSE:RDDT – Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 6,000 shares of the company’s stock, valued at approximately $808,000.
Several other large investors have also recently made changes to their positions in the company. Senvest Management LLC acquired a new position in Reddit in the 1st quarter valued at $48,392,000. Liberty One Investment Management LLC acquired a new stake in Reddit during the 1st quarter worth $241,000. Sei Investments Co. boosted its stake in Reddit by 30.6% during the 1st quarter. Sei Investments Co. now owns 148,386 shares of the company’s stock worth $19,980,000 after purchasing an additional 34,750 shares during the last quarter. Lido Advisors LLC boosted its stake in Reddit by 45.9% during the 1st quarter. Lido Advisors LLC now owns 8,469 shares of the company’s stock worth $1,140,000 after purchasing an additional 2,665 shares during the last quarter. Finally, State of Wyoming purchased a new stake in shares of Reddit during the first quarter worth $387,000.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently commented on RDDT shares. Rothschild & Co Redburn set a $110.00 target price on shares of Reddit in a research report on Monday, April 27th. Wells Fargo & Company boosted their price target on shares of Reddit from $176.00 to $187.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 7th. DA Davidson reiterated a “buy” rating and issued a $200.00 price objective on shares of Reddit in a report on Thursday. Citizens Jmp cut their price objective on shares of Reddit from $250.00 to $240.00 and set a “market outperform” rating for the company in a report on Friday, May 1st. Finally, Piper Sandler reissued an “overweight” rating and issued a $215.00 target price on shares of Reddit in a research note on Thursday, July 9th. Nineteen equities research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $232.48.
Insiders Place Their Bets
In other Reddit news, CEO Steve Ladd Huffman sold 18,000 shares of the business’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $178.26, for a total value of $3,208,680.00. Following the transaction, the chief executive officer directly owned 373,814 shares in the company, valued at $66,636,083.64. The trade was a 4.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Michelle Marie Reynolds sold 808 shares of the business’s stock in a transaction dated Wednesday, July 1st. The shares were 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 in the company, valued at $3,012,000. The trade was a 5.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 169,141 shares of company stock valued at $28,680,845 over the last ninety days. Company insiders own 28.48% of the company’s stock.
Reddit Stock Down 0.0%
NYSE RDDT opened at $168.75 on Friday. Reddit Inc. has a 52 week low of $119.27 and a 52 week high of $282.95. The business’s fifty day simple moving average is $174.67 and its 200-day simple moving average is $167.69. The firm has a market cap of $32.49 billion, a PE ratio of 48.22 and a beta of 1.93.
Reddit (NYSE:RDDT – Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The company reported $1.01 earnings per share for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $607.74 million. During the same quarter in the previous year, the company posted $0.13 EPS. The company’s revenue was up 69.1% compared to the same quarter last year. Research analysts expect that Reddit Inc. will post 4.85 EPS for the current year.
Key Stories Impacting Reddit
Here are the key news stories impacting Reddit this week:
- Positive Sentiment: Reddit was added to Wedbush’s Best Ideas list ahead of Q2 results, and DA Davidson reiterated a Buy rating with a $200 price target, signaling Wall Street still sees meaningful upside. Reddit added to Wedbush Best Ideas List ahead of Q2 results
- Positive Sentiment: Several recent bullish notes say Reddit’s fundamentals remain strong, with rapid revenue growth, high margins, and ad-driven expansion supporting the stock despite valuation concerns. Reddit: Ignore The Potential Google Scuffle And Carry On
- Positive Sentiment: Investors are looking for a Q2 beat, with guidance pointing to roughly 43% to 45% year-over-year revenue growth and a strong EBITDA margin, which could reinforce the growth story if delivered. Reddit: Why I’m Staying Bullish Into The Q2 Print
- Neutral Sentiment: Analyst commentary this week has focused on Reddit alongside other communication-services names, but no major new company-specific catalyst was disclosed in the headline item. Analysts Offer Insights on Communication Services Companies
- Neutral Sentiment: Reddit’s upcoming earnings report is expected to show growth, but some screening models suggest the setup is not ideal for a clean earnings beat, keeping expectations mixed. Reddit Inc. (RDDT) Reports Next Week: Wall Street Expects Earnings Growth
- Negative Sentiment: The main overhang is renewed uncertainty around Reddit’s reported $60 million-per-year Google AI licensing deal, with some reports suggesting Reddit may rethink the agreement if renewal talks stall or content restrictions emerge. Reddit (RDDT) May Rethink $60 Million Google AI Deal As Renewal Talks Drag
- Negative Sentiment: Recent reports of a possible Google content restriction or AI feud triggered a sharp drop in the stock and pushed Reddit below key moving averages, signaling weaker momentum in the near term. Reddit stock plunges on report of possible Google content restrictions
Reddit Profile
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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