Nemes Rush Group LLC Has $661,000 Position in Reddit Inc. $RDDT
Nemes Rush Group LLC lifted its stake in Reddit Inc. (NYSE:RDDT - Free Report) by 374.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,387 shares of the company's stock after buying an additional 3,462 shares during the period. Nemes Rush Group LLC's holdings in Reddit were worth $661,000 at the end of the most recent reporting period. Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RDDT. Financial Perspectives Inc bought a new stake in shares of Reddit in the 2nd quarter worth approximately $34,000. CWM LLC raised its stake in shares of Reddit by 100.0% in the first quarter. CWM LLC now owns 256 shares of the company's stock valued at $27,000 after purchasing an additional 128 shares in the last quarter. Stone House Investment Management LLC bought a new position in Reddit in the first quarter worth $31,000. Geneos Wealth Management Inc. boosted 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 buying an additional 286 shares in the last quarter. Finally, Western Pacific Wealth Management LP bought a new stake in Reddit in the 2nd quarter valued at $60,000. Reddit Stock Up 0.8%Shares of NYSE:RDDT opened at $183.39 on Friday. The firm has a market cap of $34.75 billion, a P/E ratio of 105.40, a P/E/G ratio of 2.02 and a beta of 2.14. Reddit Inc. has a 12 month low of $79.75 and a 12 month high of $282.95. The company's 50-day moving average price is $211.95 and its two-hundred day moving average price is $179.53. 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, topping 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 company had revenue of $584.91 million during the quarter, compared to the consensus estimate of $546.65 million. During the same period in the previous year, the firm posted $0.16 earnings per share. The company's revenue was up 67.9% on a year-over-year basis. Reddit has set its Q4 2025 guidance at EPS. As a group, equities analysts predict that Reddit Inc. will post 1.12 earnings per share for the current fiscal year. Insider Transactions at RedditIn other Reddit news, CEO Steve Ladd Huffman sold 18,000 shares of the stock in a transaction on Tuesday, September 30th. The stock was sold at an average price of $229.10, for a total value of $4,123,800.00. Following the transaction, the chief executive officer directly owned 494,104 shares in the company, valued at approximately $113,199,226.40. This trade represents a 3.51% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Christopher Brian Slowe sold 14,000 shares of the business's stock in a transaction on Monday, September 8th. The stock was sold at an average price of $236.51, for a total value of $3,311,140.00. Following the sale, the chief technology officer owned 210,534 shares of the company's stock, valued at approximately $49,793,396.34. The trade was a 6.24% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 317,140 shares of company stock worth $69,998,775 in the last quarter. 34.25% of the stock is owned by corporate insiders. Analyst Ratings ChangesA number of equities analysts have recently commented on RDDT shares. Zacks Research raised shares of Reddit from a "hold" rating to a "strong-buy" rating in a report on Wednesday, October 29th. B. Riley restated a "buy" rating and set a $245.00 price target (up previously from $235.00) on shares of Reddit in a research note on Friday, October 31st. Wells Fargo & Company lifted their price objective on Reddit from $155.00 to $174.00 and gave the company a "cautious" rating in a report on Tuesday, October 7th. Guggenheim increased 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, Morgan Stanley reaffirmed an "overweight" rating and issued a $250.00 price target on shares of Reddit in a research note on Friday, October 31st. Three research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, Reddit currently has an average rating of "Moderate Buy" and an average price target of $226.33.View Our Latest Stock Analysis on RedditAbout 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.Featured StoriesThis 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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