Reddit Inc. $RDDT Stock Position Raised by SG Americas Securities LLC
SG Americas Securities LLC increased its stake in Reddit Inc. (NYSE:RDDT - Free Report) by 76.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 38,629 shares of the company's stock after acquiring an additional 16,763 shares during the quarter. SG Americas Securities LLC's holdings in Reddit were worth $8,880,000 at the end of the most recent quarter. A number of other institutional investors and hedge funds also recently modified their holdings of RDDT. Raiffeisen Bank International AG purchased a new position in Reddit in the 3rd quarter worth about $25,000. GW&K Investment Management LLC purchased a new stake in Reddit during the third quarter valued at about $30,000. Cornerstone Planning Group LLC lifted its stake in Reddit by 13,500.0% during the third quarter. Cornerstone Planning Group LLC now owns 136 shares of the company's stock valued at $31,000 after buying an additional 135 shares in the last quarter. Noble Wealth Management PBC acquired a new position in shares of Reddit in the fourth quarter worth about $34,000. Finally, Geneos Wealth Management Inc. increased its position in shares of Reddit by 344.6% in the first quarter. Geneos Wealth Management Inc. now owns 369 shares of the company's stock worth $39,000 after acquiring an additional 286 shares in the last quarter. Reddit Price PerformanceShares of Reddit stock opened at $124.54 on Tuesday. The firm has a market cap of $23.79 billion, a price-to-earnings ratio of 47.54, a P/E/G ratio of 0.89 and a beta of 2.41. The stock has a 50-day simple moving average of $153.54 and a 200-day simple moving average of $197.23. Reddit Inc. has a 52-week low of $79.75 and a 52-week high of $282.95. Reddit (NYSE:RDDT - Get Free Report) last issued its quarterly earnings data on Thursday, February 5th. The company reported $1.24 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.28. The firm had revenue of $725.61 million for the quarter, compared to analyst estimates of $665.80 million. Reddit had a net margin of 24.05% and a return on equity of 20.89%. The company's revenue for the quarter was up 69.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.36 earnings per share. As a group, equities research analysts predict that Reddit Inc. will post 1.12 earnings per share for the current year. Analyst Upgrades and DowngradesRDDT has been the subject of several research analyst reports. Wall Street Zen upgraded shares of Reddit from a "hold" rating to a "buy" rating in a research report on Tuesday. Wells Fargo & Company set a $196.00 target price on shares of Reddit in a research note on Monday, February 9th. The Goldman Sachs Group reduced their target price on Reddit from $236.00 to $206.00 and set a "neutral" rating for the company in a report on Friday, February 6th. Cantor Fitzgerald decreased their target price on Reddit from $240.00 to $170.00 and set a "neutral" rating for the company in a research report on Friday, February 6th. Finally, Jefferies Financial Group lowered their price target on Reddit from $285.00 to $250.00 and set a "buy" rating on the stock in a report on Tuesday, March 10th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $242.19.View Our Latest Stock Report on RDDTInsider Activity at RedditIn related news, insider Benjamin Seong Lee sold 27,930 shares of Reddit stock in a transaction on Wednesday, January 7th. The shares were sold at an average price of $260.08, for a total value of $7,264,034.40. Following the completion of the sale, the insider owned 62,608 shares of the company's stock, valued at approximately $16,283,088.64. The trade was a 30.85% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Christopher Brian Slowe sold 19,036 shares of the company's stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $144.05, for a total transaction of $2,742,135.80. Following the completion of the sale, the chief technology officer owned 185,057 shares of the company's stock, valued at $26,657,460.85. This represents a 9.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have acquired 61,000 shares of company stock worth $8,870,815 and have sold 355,078 shares worth $65,408,023. Company insiders own 34.25% of the company's stock. Reddit Company Profile (Free Report)Reddit is an online social news aggregation, discussion and content-sharing platform organized around user-created communities called "subreddits," each focused on a particular topic or interest. Registered users submit links, text posts, images and video, and community members vote and comment to surface popular content. The site is accessed via its web platform and mobile apps for iOS and Android, and it supports live events such as Ask Me Anything (AMA) sessions and community-driven discussions.
Founded in 2005 by Steve Huffman and Alexis Ohanian, Reddit is headquartered in San Francisco and serves a global audience with particularly large user bases in the United States and other English-speaking markets.Recommended StoriesWant to see what other hedge funds are holding RDDT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Reddit Inc. (NYSE:RDDT - Free Report).This 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.Click the link to see MarketBeat's list of ten stocks that are set to soar in 2026, despite the threat of tariffs and other economic uncertainty. These ten stocks are incredibly resilient and are likely to thrive in any economic environment.Get This Free Report
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