Dorsey & Whitney Trust CO LLC Invests $391,000 in Reddit Inc. $RDDT
Dorsey & Whitney Trust CO LLC acquired a new position in Reddit Inc. (NYSE:RDDT - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 2,594 shares of the company's stock, valued at approximately $391,000. Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Reddit by 11.1% in the first quarter. Vanguard Group Inc. now owns 10,198,552 shares of the company's stock worth $1,069,828,000 after purchasing an additional 1,017,162 shares in the last quarter. Alliancebernstein L.P. grew its stake in Reddit by 103.0% in the 1st quarter. Alliancebernstein L.P. now owns 5,659,990 shares of the company's stock valued at $593,733,000 after buying an additional 2,871,232 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its holdings in Reddit by 10.6% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 4,073,939 shares of the company's stock valued at $427,357,000 after acquiring an additional 389,761 shares during the period. Geode Capital Management LLC lifted its position in shares of Reddit by 72.1% during the second quarter. Geode Capital Management LLC now owns 1,989,004 shares of the company's stock worth $299,044,000 after acquiring an additional 833,245 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Reddit by 98.2% in the first quarter. JPMorgan Chase & Co. now owns 1,907,495 shares of the company's stock worth $200,096,000 after acquiring an additional 944,847 shares during the period. Analyst Ratings ChangesA number of analysts recently issued reports on the company. Robert W. Baird boosted their price objective on Reddit from $177.00 to $240.00 and gave the company a "neutral" rating in a research note on Thursday, September 25th. Citigroup upped their price target on Reddit from $250.00 to $265.00 and gave the company a "buy" rating in a research report on Monday, November 3rd. Truist Financial set a $270.00 price target on shares of Reddit in a report on Friday, October 31st. Oppenheimer boosted their price objective on shares of Reddit from $215.00 to $300.00 and gave the company an "outperform" rating in a research note on Tuesday, September 16th. Finally, Wall Street Zen raised shares of Reddit from a "hold" rating to a "buy" rating in a report on Sunday, September 7th. Three equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $226.33.Get Our Latest Research Report on RDDTReddit Trading Up 1.3%Shares of NYSE RDDT opened at $188.10 on Thursday. The business has a 50-day moving average of $214.94 and a 200-day moving average of $178.56. The firm has a market capitalization of $35.64 billion, a price-to-earnings ratio of 108.10, a PEG ratio of 2.05 and a beta of 2.14. Reddit Inc. has a 12 month low of $79.75 and a 12 month high of $282.95. Reddit (NYSE:RDDT - Get Free Report) last announced its 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. Reddit had a net margin of 18.33% and a return on equity of 14.94%. The business had revenue of $584.91 million for the quarter, compared to the consensus estimate of $546.65 million. During the same period last year, the firm posted $0.16 earnings per share. Reddit's quarterly revenue was up 67.9% on a year-over-year basis. Reddit has set its Q4 2025 guidance at EPS. On average, analysts predict that Reddit Inc. will post 1.12 earnings per share for the current year. Insider ActivityIn other news, COO Jennifer L. Wong sold 30,659 shares of Reddit stock in a transaction on Thursday, October 23rd. The shares were sold at an average price of $201.82, for a total transaction of $6,187,599.38. Following the completion of the sale, the chief operating officer directly owned 1,295,968 shares of the company's stock, valued at approximately $261,552,261.76. The trade was a 2.31% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Christopher Brian Slowe sold 14,000 shares of the stock in a transaction on Monday, November 10th. The shares were sold at an average price of $204.43, for a total value of $2,862,020.00. Following the completion of the transaction, the chief technology officer directly owned 202,534 shares in the company, valued at approximately $41,404,025.62. This represents a 6.47% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 377,747 shares of company stock worth $83,344,757. 34.25% of the stock is currently owned by corporate insiders. Reddit 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.Featured StoriesWant 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.Learn the basics of options trading and how to use them to boost returns and manage risk with this free report from MarketBeat. Click the link below to get your free copy.Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
