Reddit Inc. $RDDT Stock Holdings Lifted by EFG Asset Management Americas Corp.
EFG Asset Management Americas Corp. lifted its holdings in shares of Reddit Inc. (NYSE:RDDT - Free Report) by 92.4% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 14,292 shares of the company's stock after buying an additional 6,864 shares during the period. EFG Asset Management Americas Corp.'s holdings in Reddit were worth $2,152,000 at the end of the most recent reporting period. Other institutional investors and hedge funds have also recently bought and sold shares of the company. Alliancebernstein L.P. grew its holdings in shares of Reddit by 103.0% during the first quarter. Alliancebernstein L.P. now owns 5,659,990 shares of the company's stock valued at $593,733,000 after purchasing an additional 2,871,232 shares during the last quarter. Nordea Investment Management AB grew its position in shares of Reddit by 21,703.0% during the second quarter. Nordea Investment Management AB now owns 1,060,935 shares of the company's stock worth $164,021,000 after acquiring an additional 1,056,069 shares during the last quarter. Vanguard Group Inc. lifted its position in Reddit by 11.1% in the 1st quarter. Vanguard Group Inc. now owns 10,198,552 shares of the company's stock valued at $1,069,828,000 after purchasing an additional 1,017,162 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Reddit by 98.2% in the 1st quarter. JPMorgan Chase & Co. now owns 1,907,495 shares of the company's stock valued at $200,096,000 after purchasing an additional 944,847 shares during the last quarter. Finally, Scge Management L.P. grew its position in Reddit by 121.1% in the 1st quarter. Scge Management L.P. now owns 1,612,000 shares of the company's stock worth $169,099,000 after purchasing an additional 883,000 shares during the last quarter. Insiders Place Their BetsIn other news, COO Jennifer L. Wong sold 40,967 shares of the stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $220.38, for a total transaction of $9,028,307.46. Following the transaction, the chief operating officer owned 120,033 shares of the company's stock, valued at approximately $26,452,872.54. This represents a 25.45% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Andrew Vollero sold 30,000 shares of the firm's stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $218.09, for a total value of $6,542,700.00. Following the completion of the transaction, the chief financial officer directly owned 284,168 shares in the company, valued at $61,974,199.12. The trade was a 9.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 377,747 shares of company stock valued at $83,344,757 in the last three months. Insiders own 34.25% of the company's stock. Wall Street Analysts Forecast GrowthA number of equities analysts recently issued reports on RDDT shares. Bank of America increased their target price 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. Truist Financial set a $270.00 price target on shares of Reddit in a research note on Friday, October 31st. Sanford C. Bernstein raised their price objective on shares of Reddit from $190.00 to $210.00 and gave the company a "market perform" rating in a research note on Friday, October 31st. Guggenheim boosted their target price on Reddit from $165.00 to $215.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Finally, Raymond James Financial reaffirmed a "strong-buy" rating and set a $250.00 price target (up from $225.00) on shares of Reddit in a research note on Monday, October 20th. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $226.33.View Our Latest Analysis on RDDTReddit Stock Up 1.3%RDDT opened at $188.10 on Thursday. The firm has a market cap of $35.64 billion, a PE ratio of 108.10, a P/E/G ratio of 2.05 and a beta of 2.14. The business has a fifty day simple moving average of $214.94 and a 200-day simple moving average of $178.56. Reddit Inc. has a fifty-two week low of $79.75 and a fifty-two week high of $282.95. Reddit (NYSE:RDDT - Get Free Report) last released its quarterly earnings results on Thursday, October 30th. The company reported $0.80 earnings per share for the quarter, beating analysts' consensus estimates of $0.50 by $0.30. The business had revenue of $584.91 million during the quarter, compared to analyst estimates of $546.65 million. Reddit had a return on equity of 14.94% and a net margin of 18.33%.Reddit's revenue for the quarter was up 67.9% on a year-over-year basis. During the same quarter last year, the company posted $0.16 EPS. Reddit has set its Q4 2025 guidance at EPS. On average, equities research analysts anticipate that Reddit Inc. will post 1.12 EPS for the current fiscal year. 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.See AlsoWant to see what other hedge funds are holding RDDT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Reddit Inc. (NYSE:RDDT - Free Report).This 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 for the next FAANG stock before everyone has heard about it? Enter your email address to see which stocks MarketBeat analysts think might become the next trillion dollar tech company.Get This Free Report
