DAVENPORT & Co LLC Invests $4.07 Million in Reddit Inc. $RDDT

DAVENPORT & Co LLC acquired a new position in shares of Reddit Inc. (NYSE:RDDT) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 27,004 shares of the company’s stock, valued at approximately $4,066,000.

Other institutional investors also recently modified their holdings of the company. CWM LLC grew its holdings in shares of Reddit by 100.0% during the 1st quarter. CWM LLC now owns 256 shares of the company’s stock worth $27,000 after purchasing an additional 128 shares in the last quarter. Stone House Investment Management LLC acquired a new stake in shares of Reddit during the 1st quarter worth approximately $31,000. Geneos Wealth Management Inc. grew its holdings in shares of Reddit by 344.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 369 shares of the company’s stock worth $39,000 after purchasing an additional 286 shares in the last quarter. Canton Hathaway LLC bought a new position in shares of Reddit during the 1st quarter worth approximately $43,000. Finally, Olde Wealth Management LLC bought a new position in shares of Reddit during the 1st quarter worth approximately $46,000.

Analyst Upgrades and Downgrades

RDDT has been the subject of several analyst reports. Morgan Stanley raised their target price on Reddit from $170.00 to $230.00 and gave the stock an “overweight” rating in a research report on Friday, August 1st. Argus initiated coverage on Reddit in a research report on Monday, August 18th. They set a “buy” rating and a $250.00 target price for the company. Bank of America raised their target price on Reddit from $130.00 to $150.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 30th. Oppenheimer raised their target price on Reddit from $215.00 to $300.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 16th. Finally, Roth Capital raised their target price on Reddit from $130.00 to $145.00 and gave the stock a “neutral” rating in a research report on Monday, July 21st. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $203.92.

Insiders Place Their Bets

In other news, CEO Steve Ladd Huffman sold 18,000 shares of Reddit stock in a transaction on Friday, August 29th. The stock was sold at an average price of $223.41, for a total value of $4,021,380.00. Following the completion of the sale, the chief executive officer directly owned 494,104 shares of the company’s stock, valued at approximately $110,387,774.64. This trade represents a 3.51% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Christopher Brian Slowe sold 28,000 shares of Reddit stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $218.94, for a total value of $6,130,320.00. Following the completion of the sale, the chief technology officer directly owned 222,534 shares of the company’s stock, valued at $48,721,593.96. This trade represents a 11.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 397,834 shares of company stock worth $86,512,599. 34.25% of the stock is owned by company insiders.

Reddit Stock Performance

Shares of RDDT opened at $205.94 on Wednesday. The stock has a fifty day moving average price of $227.01 and a two-hundred day moving average price of $157.84. Reddit Inc. has a 52-week low of $69.30 and a 52-week high of $282.95. The company has a market cap of $38.54 billion, a price-to-earnings ratio of 187.21, a PEG ratio of 3.20 and a beta of 2.23.

Reddit (NYSE:RDDT) last issued its quarterly earnings data on Thursday, July 31st. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.25. Reddit had a return on equity of 9.93% and a net margin of 12.97%.The firm had revenue of $499.63 million during the quarter, compared to the consensus estimate of $424.07 million. During the same quarter in the previous year, the company posted ($0.06) EPS. The business’s revenue for the quarter was up 77.9% compared to the same quarter last year. Reddit has set its Q3 2025 guidance at EPS. As a group, research analysts predict that Reddit Inc. will post 1.12 EPS for the current fiscal year.

Reddit Profile

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.