Concord Wealth Partners Acquires Shares of 984 Reddit Inc. $RDDT

Concord Wealth Partners acquired a new stake in shares of Reddit Inc. (NYSE:RDDT) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 984 shares of the company’s stock, valued at approximately $148,000.

A number of other institutional investors and hedge funds have also bought and sold shares of RDDT. Rhumbline Advisers increased its stake in Reddit by 202.7% during the 1st quarter. Rhumbline Advisers now owns 13,682 shares of the company’s stock valued at $1,435,000 after purchasing an additional 9,162 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of Reddit by 152.0% during the 1st quarter. Farther Finance Advisors LLC now owns 620 shares of the company’s stock valued at $68,000 after acquiring an additional 374 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of Reddit during the 1st quarter valued at about $1,206,000. Good Life Advisors LLC purchased a new stake in shares of Reddit during the 1st quarter valued at about $1,081,000. Finally, Janney Montgomery Scott LLC boosted its holdings in shares of Reddit by 4.5% during the 1st quarter. Janney Montgomery Scott LLC now owns 9,183 shares of the company’s stock valued at $963,000 after acquiring an additional 397 shares during the last quarter.

Reddit Trading Up 2.5%

Shares of NYSE RDDT opened at $203.43 on Tuesday. The firm has a 50 day moving average of $229.33 and a 200 day moving average of $160.54. The firm has a market capitalization of $38.07 billion, a price-to-earnings ratio of 184.94, a price-to-earnings-growth ratio of 3.03 and a beta of 2.23. Reddit Inc. has a 12-month low of $72.82 and a 12-month high of $282.95.

Reddit (NYSE:RDDT) last announced its earnings results 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. The company had revenue of $499.63 million during the quarter, compared to analyst estimates of $424.07 million. Reddit had a net margin of 12.97% and a return on equity of 9.93%. The firm’s quarterly revenue was up 77.9% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.06) earnings per share. Reddit has set its Q3 2025 guidance at EPS. Sell-side analysts predict that Reddit Inc. will post 1.12 EPS for the current year.

Insider Activity

In other Reddit news, COO Jennifer L. Wong sold 40,967 shares of Reddit stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $220.38, for a total transaction of $9,028,307.46. Following the transaction, the chief operating officer owned 120,033 shares of the company’s stock, valued at $26,452,872.54. The trade was a 25.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Andrew Vollero sold 30,000 shares of Reddit stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $218.09, for a total transaction of $6,542,700.00. Following the transaction, the chief financial officer directly owned 284,168 shares in the company, valued at $61,974,199.12. This represents a 9.55% decrease in their position. The disclosure for this sale can be found here. Insiders sold 397,834 shares of company stock worth $87,285,119 over the last ninety days. Company insiders own 34.25% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on RDDT shares. Guggenheim raised their price target on shares of Reddit from $165.00 to $215.00 and gave the company a “buy” rating in a report on Friday, August 1st. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $212.00 price target on shares of Reddit in a report on Friday, August 1st. Jefferies Financial Group raised their price target on shares of Reddit from $230.00 to $300.00 and gave the company a “buy” rating in a report on Wednesday, September 10th. Raymond James Financial reaffirmed a “strong-buy” rating and set a $225.00 price target (up previously from $175.00) on shares of Reddit in a report on Friday, August 1st. Finally, Wells Fargo & Company raised their price target on shares of Reddit from $155.00 to $174.00 and gave the company a “cautious” rating in a report on Tuesday, October 7th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $203.92.

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.