Intech Investment Management LLC Invests $7.87 Million in Reddit Inc. $RDDT
Intech Investment Management LLC bought a new position in Reddit Inc. (NYSE:RDDT - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 52,263 shares of the company's stock, valued at approximately $7,869,000. A number of other institutional investors have also recently bought and sold shares of the business. CWM LLC raised its stake in shares of Reddit by 100.0% in the 1st quarter. CWM LLC now owns 256 shares of the company's stock valued at $27,000 after buying an additional 128 shares in the last quarter. Apollon Wealth Management LLC raised its position in Reddit by 9.2% in the first quarter. Apollon Wealth Management LLC now owns 3,785 shares of the company's stock worth $397,000 after purchasing an additional 320 shares in the last quarter. Victory Capital Management Inc. lifted its stake in Reddit by 22.3% during the first quarter. Victory Capital Management Inc. now owns 298,326 shares of the company's stock worth $31,294,000 after purchasing an additional 54,451 shares during the period. Kingsview Wealth Management LLC boosted its holdings in Reddit by 41.7% during the first quarter. Kingsview Wealth Management LLC now owns 5,650 shares of the company's stock valued at $593,000 after purchasing an additional 1,664 shares in the last quarter. Finally, Private Advisor Group LLC boosted its holdings in Reddit by 73.9% during the first quarter. Private Advisor Group LLC now owns 13,694 shares of the company's stock valued at $1,437,000 after purchasing an additional 5,821 shares in the last quarter. Reddit Trading Up 2.0%Shares of NYSE:RDDT opened at $193.24 on Monday. The stock has a market capitalization of $36.62 billion, a P/E ratio of 111.06, a P/E/G ratio of 2.13 and a beta of 2.15. Reddit Inc. has a 1-year low of $79.75 and a 1-year high of $282.95. The business has a 50-day moving average price of $218.30 and a two-hundred day moving average price of $177.49. Reddit (NYSE:RDDT - Get Free Report) last issued its earnings results on Thursday, October 30th. The company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.30. The company had revenue of $584.91 million for the quarter, compared to analyst estimates of $546.65 million. Reddit had a net margin of 18.33% and a return on equity of 14.94%. The company's revenue for the quarter was up 67.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.16 EPS. Reddit has set its Q4 2025 guidance at EPS. As a group, equities analysts predict that Reddit Inc. will post 1.12 EPS for the current year. Wall Street Analysts Forecast GrowthSeveral brokerages recently commented on RDDT. Truist Financial set a $270.00 price target on Reddit in a research note on Friday, October 31st. Wolfe Research raised shares of Reddit to an "outperform" rating in a report on Sunday, August 3rd. Sanford C. Bernstein increased their target price 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. Bank of America raised their price objective on shares of Reddit from $180.00 to $210.00 and gave the company a "neutral" rating in a research report on Friday, October 31st. Finally, Guggenheim upped their target price on shares of Reddit from $165.00 to $215.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Three equities research 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 assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $226.33.Read Our Latest Report on RedditInsider Buying and Selling at RedditIn other Reddit news, COO Jennifer L. Wong sold 40,967 shares of the company's stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $220.38, for a total transaction of $9,028,307.46. Following the completion of the sale, the chief operating officer owned 120,033 shares in the company, valued at approximately $26,452,872.54. The trade was a 25.45% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Steve Ladd Huffman sold 18,000 shares of the firm's stock in a transaction on Friday, August 29th. The stock was sold at an average price of $223.41, for a total value of $4,021,380.00. Following the completion of the transaction, the chief executive officer owned 494,104 shares in the company, valued at $110,387,774.64. This represents a 3.51% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 387,747 shares of company stock valued at $85,968,497 in the last three months. Insiders own 34.25% of the company's stock. About Reddit (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.Read MoreThis 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. Please send any questions or comments about this story to contact@marketbeat.com.Before you consider Reddit, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Reddit wasn't on the list.While Reddit currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.Looking to profit from the electric vehicle mega-trend? Enter your email address and we'll send you our list of which EV stocks show the most long-term potential.Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
