Smith Group Asset Management LLC Takes Position in Reddit Inc. $RDDT

Posted by Francis Steltz on Jul 29th, 2026

Smith Group Asset Management LLC purchased a new position in shares of Reddit Inc. (NYSE:RDDT – Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 5,036 shares of the company’s stock, valued at approximately $678,000.

Several other institutional investors have also recently made changes to their positions in the company. Sunbelt Securities Inc. lifted its holdings in Reddit by 87.5% in the first quarter. Sunbelt Securities Inc. now owns 195 shares of the company’s stock valued at $26,000 after acquiring an additional 91 shares during the last quarter. Ascentis Independent Advisors acquired a new stake in Reddit during the first quarter worth $30,000. LOM Asset Management Ltd acquired a new stake in Reddit during the fourth quarter worth $33,000. Geneos Wealth Management Inc. raised its position in Reddit by 344.6% in the first quarter. Geneos Wealth Management Inc. now owns 369 shares of the company’s stock valued at $39,000 after purchasing an additional 286 shares during the period. Finally, V Square Quantitative Management LLC purchased a new stake in Reddit in the first quarter valued at $43,000.

Reddit Stock Down 0.3%

RDDT opened at $178.73 on Wednesday. Reddit Inc. has a 52 week low of $119.27 and a 52 week high of $282.95. The business has a fifty day simple moving average of $175.55 and a 200-day simple moving average of $166.09. The firm has a market cap of $34.41 billion, a P/E ratio of 51.07 and a beta of 1.93.

Reddit (NYSE:RDDT – Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The company reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.39. Reddit had a return on equity of 25.48% and a net margin of 28.60%.The firm had revenue of $663.41 million for the quarter, compared to the consensus estimate of $607.74 million. During the same quarter in the previous year, the business earned $0.13 EPS. The company’s quarterly revenue was up 69.1% compared to the same quarter last year. Sell-side analysts expect that Reddit Inc. will post 4.85 earnings per share for the current year.

Insider Buying and Selling at Reddit

In other news, CAO Michelle Marie Reynolds sold 808 shares of the 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 sale, the chief accounting officer owned 15,060 shares of the company’s stock, valued at approximately $3,012,000. This represents a 5.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Steve Ladd Huffman sold 18,000 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $178.26, for a total transaction of $3,208,680.00. Following the completion of the transaction, the chief executive officer directly owned 373,814 shares of the company’s stock, valued at approximately $66,636,083.64. The trade was a 4.59% decrease in their position. 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 sold a total of 169,141 shares of company stock valued at $28,680,845 in the last three months. 28.48% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on RDDT shares. Needham & Company LLC reiterated a “buy” rating and set a $300.00 price target on shares of Reddit in a report on Wednesday, June 24th. Truist Financial set a $265.00 price objective on shares of Reddit in a report on Friday, May 1st. Rothschild & Co Redburn set a $110.00 price objective on shares of Reddit in a report on Monday, April 27th. Citigroup reaffirmed a “market outperform” rating on shares of Reddit in a research report on Tuesday, May 26th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $200.00 target price on shares of Reddit in a research note on Monday, July 20th. Twenty investment analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $232.48.

Get Our Latest Research Report on RDDT

About Reddit

(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.

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Institutional Ownership by Quarter for Reddit (NYSE:RDDT)

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