Vanguard Group Inc. Purchases 638,663 Shares of Reddit Inc. $RDDT
Vanguard Group Inc. lifted its position in shares of Reddit Inc. (NYSE:RDDT - Free Report) by 6.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,837,215 shares of the company's stock after buying an additional 638,663 shares during the quarter. Vanguard Group Inc. owned about 5.79% of Reddit worth $1,631,759,000 at the end of the most recent reporting period. Several other hedge funds and other institutional investors have also bought and sold shares of the company. CWM LLC boosted its position in Reddit by 100.0% during the first quarter. CWM LLC now owns 256 shares of the company's stock valued at $27,000 after acquiring an additional 128 shares during the last quarter. Stone House Investment Management LLC acquired a new position in shares of Reddit in the 1st quarter valued at about $31,000. Financial Perspectives Inc bought a new stake in shares of Reddit during the 2nd quarter valued at about $34,000. Geneos Wealth Management Inc. grew its stake in Reddit by 344.6% during the first quarter. Geneos Wealth Management Inc. now owns 369 shares of the company's stock worth $39,000 after purchasing an additional 286 shares during the period. Finally, Western Pacific Wealth Management LP acquired a new stake in Reddit during the second quarter worth approximately $60,000. Reddit Price PerformanceNYSE:RDDT opened at $183.39 on Friday. Reddit Inc. has a one year low of $79.75 and a one year high of $282.95. The company has a market cap of $34.75 billion, a PE ratio of 105.40, a PEG ratio of 2.02 and a beta of 2.14. The firm has a 50-day moving average of $211.95 and a 200-day moving average of $179.53. Reddit (NYSE:RDDT - Get Free Report) last released its quarterly earnings results on Thursday, October 30th. The company reported $0.80 earnings per share (EPS) 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 the consensus estimate of $546.65 million. Reddit had a return on equity of 14.94% and a net margin of 18.33%.The company's quarterly revenue was up 67.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.16 EPS. Reddit has set its Q4 2025 guidance at EPS. On average, equities research analysts expect that Reddit Inc. will post 1.12 earnings per share for the current fiscal year. Insider Buying and SellingIn other Reddit news, CEO Steve Ladd Huffman sold 18,000 shares of Reddit stock in a transaction on Friday, November 14th. The shares were sold at an average price of $194.81, for a total transaction of $3,506,580.00. Following the transaction, the chief executive officer directly owned 485,958 shares of the company's stock, valued at $94,669,477.98. The trade was a 3.57% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Jennifer L. Wong sold 30,659 shares of the company's stock in a transaction on Thursday, October 23rd. The stock was 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 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 SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 317,140 shares of company stock worth $69,998,775. 34.25% of the stock is owned by corporate insiders. Wall Street Analyst Weigh InA number of equities analysts have issued reports on RDDT shares. Royal Bank Of Canada restated a "sector perform" rating on shares of Reddit in a report on Wednesday, October 1st. Weiss Ratings reissued a "hold (c)" rating on shares of Reddit in a research note on Thursday, November 13th. JPMorgan Chase & Co. raised their price target on shares of Reddit from $190.00 to $227.00 and gave the stock a "neutral" rating in a report on Friday, October 31st. Truist Financial set a $270.00 price objective on shares of Reddit in a report on Friday, October 31st. Finally, Morgan Stanley restated an "overweight" rating and issued a $250.00 target price on shares of Reddit in a research note on Friday, October 31st. Three equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $226.33.View Our Latest Research Report on RDDTReddit 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 ArticlesThis 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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