10,306 Shares in Reddit Inc. $RDDT Purchased by Mirador Capital Partners LP

Mirador Capital Partners LP acquired a new stake in shares of Reddit Inc. (NYSE:RDDT) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 10,306 shares of the company’s stock, valued at approximately $1,789,000.

Other large investors also recently added to or reduced their stakes in the company. Sunbelt Securities Inc. grew its stake in Reddit by 87.5% in the 1st quarter. Sunbelt Securities Inc. now owns 195 shares of the company’s stock worth $26,000 after acquiring an additional 91 shares in the last quarter. Ascentis Independent Advisors purchased a new stake in shares of Reddit in the first quarter valued at approximately $30,000. LOM Asset Management Ltd purchased a new stake in shares of Reddit in the fourth quarter valued at approximately $33,000. Geneos Wealth Management Inc. grew its stake in 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 purchasing an additional 286 shares in the last quarter. Finally, V Square Quantitative Management LLC bought a new position in Reddit in the first quarter worth approximately $43,000.

More Reddit News

Here are the key news stories impacting Reddit this week:

• Positive Sentiment: An analyst upgrade helped support Reddit’s shares, with the brokerage citing the company’s growth prospects and improving fundamentals. Reddit Trading Higher Following Analyst Upgrade
• Positive Sentiment: Reddit’s second-quarter performance was strong: revenue rose 61% year over year to $804.9 million, earnings exceeded estimates, advertising revenue increased 64%, and average revenue per user rose 24%. Management also issued third-quarter revenue and adjusted EBITDA guidance above consensus. Reddit Q2 Review
• Positive Sentiment: New AI-powered moderation and abuse-prevention tools could make it easier for new users to participate, reduce spam and scraping, and improve community quality over time. Reddit AI Moderation Tools
• Neutral Sentiment: Several analysts and commentators argue that the post-earnings selloff was excessive, pointing to strong free cash flow, profitability and Reddit’s expanding digital advertising opportunity. These views may help stabilize sentiment but do not remove the company’s execution risks. Reddit Sell-Off Analysis
• Negative Sentiment: Flat growth in U.S. daily logged-in users was the main concern following earnings. Investors fear that weaker domestic user expansion could eventually limit advertising growth, despite higher monetization per user. Reddit U.S. User Growth Concerns
• Negative Sentiment: Investors remain concerned that search-engine referral changes and Reddit’s dependence on external traffic could pressure user acquisition and engagement, helping explain the sharp post-earnings decline. Reddit Post-Earnings Selloff
• Negative Sentiment: A law firm is investigating Reddit on behalf of long-term shareholders, introducing potential litigation and reputational risk after the recent stock decline. Reddit Shareholder Investigation

Reddit Trading Down 3.0%

Shares of NYSE RDDT opened at $155.17 on Thursday. Reddit Inc. has a 12-month low of $119.27 and a 12-month high of $282.95. The stock’s fifty day simple moving average is $177.30 and its two-hundred day simple moving average is $162.46. The stock has a market capitalization of $29.87 billion, a PE ratio of 36.09, a price-to-earnings-growth ratio of 0.54 and a beta of 2.03.

Reddit (NYSE:RDDT) last released its quarterly earnings results on Thursday, July 30th. The company reported $1.25 EPS for the quarter, topping the consensus estimate of $0.95 by $0.30. The firm had revenue of $804.91 million during the quarter, compared to analyst estimates of $731.00 million. Reddit had a return on equity of 29.02% and a net margin of 31.35%.The business’s revenue for the quarter was up 61.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.45 EPS. On average, equities analysts predict that Reddit Inc. will post 5.19 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Reddit news, CEO Steve Ladd Huffman sold 18,000 shares of the stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $178.26, for a total transaction of $3,208,680.00. Following the completion of the sale, the chief executive officer directly owned 373,814 shares of the company’s stock, valued at approximately $66,636,083.64. This represents a 4.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed 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 firm’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $200.00, for a total transaction of $161,600.00. Following the completion of the sale, the chief accounting officer owned 15,060 shares in the company, valued at $3,012,000. This represents a 5.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 151,141 shares of company stock worth $25,588,445. 28.48% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on RDDT shares. Jefferies Financial Group set a $250.00 target price on Reddit in a research report on Friday, July 10th. Evercore reissued an “outperform” rating and set a $265.00 price target on shares of Reddit in a research report on Friday, July 31st. Wedbush cut their price target on Reddit from $250.00 to $221.00 and set an “outperform” rating on the stock in a research note on Friday, July 31st. Telsey Advisory Group set a $240.00 price objective on shares of Reddit in a research note on Friday, July 31st. Finally, B. Riley Financial upped their price objective on shares of Reddit from $250.00 to $270.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $220.90.

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.