Investment House LLC Acquires 48,125 Shares of Reddit Inc. $RDDT
Investment House LLC raised its holdings in shares of Reddit Inc. (NYSE:RDDT - Free Report) by 405.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 59,992 shares of the company's stock after buying an additional 48,125 shares during the period. Investment House LLC's holdings in Reddit were worth $9,033,000 at the end of the most recent quarter. Other institutional investors have also added to or reduced their stakes in the company. Teacher Retirement System of Texas lifted its position in Reddit by 880.5% during the second quarter. Teacher Retirement System of Texas now owns 94,676 shares of the company's stock valued at $14,255,000 after purchasing an additional 85,020 shares in the last quarter. Petrus Trust Company LTA purchased a new stake in Reddit in the first quarter worth about $473,000. JPMorgan Chase & Co. increased its position in 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 buying an additional 944,847 shares in the last quarter. Greycroft LP raised its stake in shares of Reddit by 109.1% in the first quarter. Greycroft LP now owns 11,500 shares of the company's stock worth $1,206,000 after buying an additional 6,000 shares during the period. Finally, Think Investments LP lifted its position in shares of Reddit by 10.3% during the 1st quarter. Think Investments LP now owns 268,000 shares of the company's stock valued at $28,113,000 after buying an additional 25,000 shares in the last quarter. Reddit Stock PerformanceRDDT stock opened at $238.72 on Thursday. The company's fifty day moving average price is $205.33 and its 200-day moving average price is $189.85. Reddit Inc. has a one year low of $79.75 and a one year high of $282.95. The company has a market capitalization of $45.24 billion, a PE ratio of 137.19, a price-to-earnings-growth ratio of 2.61 and a beta of 2.17. Reddit (NYSE:RDDT - Get Free Report) last posted its earnings results on Thursday, October 30th. The company reported $0.80 earnings per share for the quarter, beating the consensus estimate 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%. Reddit's quarterly revenue was up 67.9% on a year-over-year basis. During the same period last year, the company posted $0.16 earnings per share. On average, research analysts predict that Reddit Inc. will post 1.12 EPS for the current fiscal year. Analyst Upgrades and DowngradesSeveral research firms recently issued reports on RDDT. JPMorgan Chase & Co. increased their target price on shares of Reddit from $190.00 to $227.00 and gave the stock a "neutral" rating in a report on Friday, October 31st. Bank of America upped their price target on shares of Reddit from $180.00 to $210.00 and gave the stock a "neutral" rating in a research report on Friday, October 31st. Jefferies Financial Group raised their price objective on shares of Reddit from $230.00 to $300.00 and gave the company a "buy" rating in a research report on Wednesday, September 10th. JMP Securities restated a "market outperform" rating and set a $300.00 target price on shares of Reddit in a research note on Friday, October 3rd. Finally, Morgan Stanley reaffirmed an "overweight" rating and issued a $250.00 target price on shares of Reddit in a report on Friday, October 31st. Three investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $229.28.Check Out Our Latest Stock Analysis on RDDTInsider ActivityIn other Reddit news, CTO Christopher Brian Slowe sold 24,000 shares of the firm's stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of $192.72, for a total transaction of $4,625,280.00. Following the completion of the transaction, the chief technology officer owned 175,694 shares in the company, valued at $33,859,747.68. This trade represents a 12.02% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Steve Ladd Huffman sold 18,000 shares of Reddit stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $261.22, for a total value of $4,701,960.00. Following the completion of the sale, the chief executive officer directly owned 494,104 shares in the company, valued at approximately $129,069,846.88. The trade was a 3.51% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 394,370 shares of company stock worth $83,122,444 over the last 90 days. Corporate insiders own 34.25% of the company's stock. About 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. 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.Unlock the timeless value of gold with our exclusive 2026 Gold Forecasting Report. 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