NFSG Corp Cuts Stock Holdings in Reddit Inc. $RDDT

NFSG Corp lowered its holdings in Reddit Inc. (NYSE:RDDT) by 92.2% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 430 shares of the company’s stock after selling 5,057 shares during the quarter. NFSG Corp’s holdings in Reddit were worth $58,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Institute for Wealth Management LLC. increased its holdings in Reddit by 6.1% during the fourth quarter. Institute for Wealth Management LLC. now owns 1,071 shares of the company’s stock valued at $246,000 after buying an additional 62 shares during the period. Roxbury Financial LLC lifted its holdings in Reddit by 7.4% during the fourth quarter. Roxbury Financial LLC now owns 929 shares of the company’s stock worth $214,000 after buying an additional 64 shares during the period. Florida Financial Advisors LLC lifted its holdings in Reddit by 6.7% during the fourth quarter. Florida Financial Advisors LLC now owns 1,087 shares of the company’s stock worth $250,000 after buying an additional 68 shares during the period. Diversified Trust Co boosted its position in Reddit by 2.1% during the 1st quarter. Diversified Trust Co now owns 3,271 shares of the company’s stock valued at $440,000 after acquiring an additional 68 shares in the last quarter. Finally, IFP Advisors Inc increased its holdings in shares of Reddit by 9.9% in the 3rd quarter. IFP Advisors Inc now owns 796 shares of the company’s stock valued at $183,000 after acquiring an additional 72 shares during the period.

More Reddit News

Here are the key news stories impacting Reddit this week:

• Positive Sentiment: Wedbush initiated coverage on Reddit with an Outperform rating and a $250 price target, implying meaningful upside from recent levels and highlighting confidence in Reddit’s ad business and AI/licensing opportunities. Article Title
• Positive Sentiment: Another report said Reddit could be 47% undervalued based on AI and advertising growth potential, reinforcing the view that Wall Street still sees room for expansion. Article Title
• Positive Sentiment: Jefferies said Reddit is likely to beat second-quarter revenue and EBITDA estimates, citing strong ad checks and improving user growth ahead of earnings. Article Title
• Neutral Sentiment: Additional media coverage and analyst commentary have put Reddit in the spotlight, which may be increasing trading volatility without changing the underlying fundamentals. Article Title
• Negative Sentiment: Some market commentary focused on why the shares fell more than the broader market, indicating investors remain sensitive to valuation after the stock’s recent gains. Article Title

Wall Street Analyst Weigh In

RDDT has been the subject of several recent research reports. Cantor Fitzgerald boosted their price target on Reddit from $170.00 to $180.00 and gave the stock a “neutral” rating in a research report on Friday, May 1st. UBS Group reaffirmed a “mixed” rating on shares of Reddit in a research report on Thursday, July 9th. Needham & Company LLC reiterated a “buy” rating and issued a $300.00 target price on shares of Reddit in a research note on Wednesday, June 24th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $200.00 target price on shares of Reddit in a report on Friday, May 1st. Finally, Citizens Jmp decreased their price target on shares of Reddit from $250.00 to $240.00 and set a “market outperform” rating for the company in a research report on Friday, May 1st. Nineteen investment analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $231.79.

Reddit Trading Down 6.6%

Shares of RDDT stock opened at $185.01 on Friday. Reddit Inc. has a 12-month low of $119.27 and a 12-month high of $282.95. The business’s fifty day simple moving average is $172.26 and its 200-day simple moving average is $169.66. The company has a market cap of $35.62 billion, a PE ratio of 52.86 and a beta of 1.93.

Reddit (NYSE:RDDT) last posted its quarterly earnings data on Thursday, April 30th. The company reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.39. Reddit had a return on equity of 25.48% and a net margin of 28.60%.The firm had revenue of $663.41 million during the quarter, compared to analysts’ expectations of $607.74 million. During the same quarter last year, the firm earned $0.13 EPS. The business’s quarterly revenue was up 69.1% on a year-over-year basis. On average, equities analysts forecast that Reddit Inc. will post 4.83 earnings per share for the current year.

Insider Activity at Reddit

In other news, COO Jennifer L. Wong sold 39,167 shares of the business’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $158.52, for a total transaction of $6,208,752.84. Following the sale, the chief operating officer owned 1,088,451 shares in the company, valued at approximately $172,541,252.52. The trade was a 3.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Michelle Marie Reynolds sold 808 shares of the business’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $200.00, for a total value of $161,600.00. Following the sale, the chief accounting officer owned 15,060 shares in the company, valued at $3,012,000. The trade was a 5.09% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 169,141 shares of company stock valued at $28,680,845 in the last ninety days. Corporate insiders own 28.48% of the company’s stock.

Reddit Profile

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.