SG Americas Securities LLC Has $5.59 Million Holdings in Reddit Inc. $RDDT
SG Americas Securities LLC boosted its position in shares of Reddit Inc. (NYSE:RDDT - Free Report) by 223.3% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 37,154 shares of the company's stock after buying an additional 25,661 shares during the period. SG Americas Securities LLC's holdings in Reddit were worth $5,594,000 at the end of the most recent quarter. Several other hedge funds and other institutional investors also recently made changes to their positions in the company. CWM LLC boosted its position in shares of Reddit by 100.0% during 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. Stone House Investment Management LLC bought a new stake in Reddit during the first quarter worth $31,000. Financial Perspectives Inc acquired a new stake in shares of Reddit in the 2nd quarter valued at $34,000. Geneos Wealth Management Inc. boosted its holdings in shares of Reddit by 344.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 369 shares of the company's stock valued at $39,000 after purchasing an additional 286 shares in the last quarter. Finally, Western Pacific Wealth Management LP bought a new position in shares of Reddit in the 2nd quarter valued at $60,000. Insider Activity at RedditIn related news, COO Jennifer L. Wong sold 30,659 shares of the company's stock in a transaction that occurred on Thursday, October 23rd. The stock was sold at an average price of $201.82, for a total value of $6,187,599.38. Following the sale, the chief operating officer directly owned 1,295,968 shares in the company, valued at $261,552,261.76. This represents a 2.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CTO Christopher Brian Slowe sold 14,000 shares of the firm's stock in a transaction that occurred on Monday, November 10th. The stock was sold at an average price of $204.43, for a total transaction of $2,862,020.00. Following the transaction, the chief technology officer owned 202,534 shares of the company's stock, valued at approximately $41,404,025.62. The trade was a 6.47% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 387,747 shares of company stock worth $85,968,497 over the last three months. Company insiders own 34.25% of the company's stock. Reddit Price PerformanceShares of NYSE RDDT opened at $187.48 on Tuesday. The company has a 50 day simple moving average of $217.44 and a 200 day simple moving average of $177.98. The firm has a market cap of $35.53 billion, a PE ratio of 107.75, a price-to-earnings-growth ratio of 2.13 and a beta of 2.14. Reddit Inc. has a 1 year low of $79.75 and a 1 year high of $282.95. Reddit (NYSE:RDDT - Get Free Report) last posted its earnings results on Thursday, October 30th. The company reported $0.80 earnings per share for the quarter, topping analysts' consensus estimates of $0.50 by $0.30. Reddit had a net margin of 18.33% and a return on equity of 14.94%. The firm had revenue of $584.91 million for the quarter, compared to analyst estimates of $546.65 million. During the same period in the previous year, the firm posted $0.16 EPS. The company's revenue for the quarter was up 67.9% compared to the same quarter last year. Reddit has set its Q4 2025 guidance at EPS. As a group, research analysts anticipate that Reddit Inc. will post 1.12 earnings per share for the current fiscal year. Analyst Upgrades and DowngradesSeveral research firms recently weighed in on RDDT. Guggenheim raised their price objective on Reddit from $165.00 to $215.00 and gave the company a "buy" rating in a research note on Friday, August 1st. Citigroup increased their target price on shares of Reddit from $250.00 to $265.00 and gave the stock a "buy" rating in a report on Monday, November 3rd. Wall Street Zen upgraded shares of Reddit from a "hold" rating to a "buy" rating in a research note on Sunday, September 7th. Sanford C. Bernstein upped their price objective on shares of Reddit from $190.00 to $210.00 and gave the stock a "market perform" rating in a research report on Friday, October 31st. Finally, Argus initiated coverage on shares of Reddit in a research report on Monday, August 18th. They issued a "buy" rating and a $250.00 target price on the stock. Three analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $226.33.Get Our Latest Report on RDDTReddit Company Profile (Free Report)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.See AlsoThis instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. 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