458,708 Shares in Reddit Inc. $RDDT Purchased by Artisan Partners Limited Partnership
Artisan Partners Limited Partnership purchased a new position in Reddit Inc. (NYSE:RDDT - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 458,708 shares of the company's stock, valued at approximately $69,068,000. Artisan Partners Limited Partnership owned about 0.25% of Reddit at the end of the most recent quarter. A number of other institutional investors and hedge funds also recently modified their holdings of the stock. CWM LLC lifted its holdings 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 during the period. Stone House Investment Management LLC acquired a new position in Reddit during the first quarter worth approximately $31,000. Financial Perspectives Inc purchased a new position in Reddit during the second quarter worth approximately $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 during the last quarter. Finally, Western Pacific Wealth Management LP acquired a new position in shares of Reddit in the 2nd quarter valued at $60,000. Analyst Upgrades and DowngradesA number of analysts have recently commented on the company. Royal Bank Of Canada restated a "sector perform" rating on shares of Reddit in a report on Wednesday, October 1st. Raymond James Financial reissued a "strong-buy" rating and set a $250.00 price target (up previously from $225.00) on shares of Reddit in a research report on Monday, October 20th. Roth Capital set a $210.00 price objective on Reddit in a report on Friday, October 31st. Cannonball Research reaffirmed a "buy" rating on shares of Reddit in a research note on Tuesday, September 23rd. Finally, JMP Securities reiterated a "market outperform" rating and set a $300.00 target price on shares of Reddit in a report on Friday, October 3rd. Three research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $226.33.View Our Latest Analysis on RedditReddit Trading Down 2.9%RDDT opened at $182.26 on Friday. Reddit Inc. has a twelve month low of $79.75 and a twelve month high of $282.95. The firm has a market cap of $34.54 billion, a price-to-earnings ratio of 104.74, a PEG ratio of 2.07 and a beta of 2.14. The company has a fifty day simple moving average of $213.37 and a 200 day simple moving average of $178.58. Reddit (NYSE:RDDT - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $584.91 million during the quarter, compared to analysts' expectations of $546.65 million. Reddit had a net margin of 18.33% and a return on equity of 14.94%. The firm's revenue for the quarter was up 67.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.16 EPS. Reddit has set its Q4 2025 guidance at EPS. On average, analysts forecast that Reddit Inc. will post 1.12 earnings per share for the current fiscal year. Insiders Place Their BetsIn other Reddit news, CTO Christopher Brian Slowe sold 14,000 shares of the firm's stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $236.51, for a total transaction of $3,311,140.00. Following the completion of the sale, the chief technology officer owned 210,534 shares in the company, valued at $49,793,396.34. This trade represents a 6.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Jennifer L. Wong sold 30,806 shares of the company's stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $218.55, for a total value of $6,732,651.30. Following the completion of the transaction, the chief operating officer directly owned 1,326,709 shares in the company, valued at approximately $289,952,251.95. The trade was a 2.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 317,140 shares of company stock worth $69,998,775. Company insiders own 34.25% of the company's stock. 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.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. 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