Prudential PLC Purchases New Stake in Reddit Inc. $RDDT
Prudential PLC bought a new stake in Reddit Inc. (NYSE:RDDT - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 5,067 shares of the company's stock, valued at approximately $763,000. Several other institutional investors have also modified their holdings of RDDT. Financial Perspectives Inc acquired a new position in Reddit in the 2nd quarter valued at about $34,000. CWM LLC raised its position in shares of Reddit by 100.0% during the 1st quarter. CWM LLC now owns 256 shares of the company's stock valued at $27,000 after buying an additional 128 shares during the period. Stone House Investment Management LLC acquired a new position in Reddit in the first quarter valued at approximately $31,000. Geneos Wealth Management Inc. lifted its holdings in Reddit by 344.6% in the first quarter. Geneos Wealth Management Inc. now owns 369 shares of the company's stock valued at $39,000 after acquiring an additional 286 shares during the last quarter. Finally, Western Pacific Wealth Management LP purchased a new position in Reddit in the second quarter worth approximately $60,000. Reddit Stock Up 0.8%Reddit stock opened at $183.39 on Monday. Reddit Inc. has a 52-week low of $79.75 and a 52-week high of $282.95. The firm has a market cap of $34.75 billion, a PE ratio of 105.40, a price-to-earnings-growth ratio of 2.02 and a beta of 2.14. The company's 50 day moving average is $211.95 and its two-hundred day moving average is $180.05. 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, topping analysts' consensus estimates of $0.50 by $0.30. The business had revenue of $584.91 million for 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%.The company's revenue was up 67.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.16 earnings per share. Reddit has set its Q4 2025 guidance at EPS. On average, equities research analysts anticipate that Reddit Inc. will post 1.12 earnings per share for the current fiscal year. Analyst Upgrades and DowngradesSeveral equities analysts have recently commented on the company. Cannonball Research reaffirmed a "buy" rating on shares of Reddit in a research note on Tuesday, September 23rd. Jefferies Financial Group increased their target price on shares of Reddit from $230.00 to $300.00 and gave the stock a "buy" rating in a research note on Wednesday, September 10th. Sanford C. Bernstein lifted their price target on shares of Reddit from $190.00 to $210.00 and gave the company a "market perform" rating in a research report on Friday, October 31st. Weiss Ratings restated a "hold (c)" rating on shares of Reddit in a report on Thursday, November 13th. Finally, Piper Sandler reaffirmed an "overweight" rating and set a $290.00 price objective on shares of Reddit in a research report on Friday, October 3rd. Three analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $226.33.View Our Latest Stock Analysis on RedditInsider Buying and Selling at RedditIn related news, COO Jennifer L. Wong sold 30,659 shares of Reddit stock in a transaction that occurred on Thursday, October 23rd. The shares were sold at an average price of $201.82, for a total value of $6,187,599.38. Following the completion of the transaction, the chief operating officer owned 1,295,968 shares in the company, valued at $261,552,261.76. The trade was a 2.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Christopher Brian Slowe sold 14,000 shares of the stock in a transaction that occurred on Monday, November 10th. The shares were sold at an average price of $204.43, for a total transaction of $2,862,020.00. Following the completion of the sale, 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 ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 286,334 shares of company stock valued at $63,266,123 in the last quarter. Corporate insiders own 34.25% of the company's stock. Reddit 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.See AlsoThis 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
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