Reddit Inc. $RDDT Shares Sold by Meridian Wealth Management LLC

Meridian Wealth Management LLC lowered its stake in shares of Reddit Inc. (NYSE:RDDT) by 7.1% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 64,181 shares of the company’s stock after selling 4,935 shares during the period. Meridian Wealth Management LLC’s holdings in Reddit were worth $9,664,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in shares of Reddit by 11.1% in the first quarter. Vanguard Group Inc. now owns 10,198,552 shares of the company’s stock valued at $1,069,828,000 after acquiring an additional 1,017,162 shares in the last quarter. Alliancebernstein L.P. boosted its stake in Reddit by 103.0% during the 1st quarter. Alliancebernstein L.P. now owns 5,659,990 shares of the company’s stock worth $593,733,000 after purchasing an additional 2,871,232 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its holdings in shares of Reddit by 10.6% during the first quarter. T. Rowe Price Investment Management Inc. now owns 4,073,939 shares of the company’s stock worth $427,357,000 after buying an additional 389,761 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Reddit by 72.1% in the second quarter. Geode Capital Management LLC now owns 1,989,004 shares of the company’s stock valued at $299,044,000 after buying an additional 833,245 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in Reddit by 98.2% during the first quarter. JPMorgan Chase & Co. now owns 1,907,495 shares of the company’s stock worth $200,096,000 after acquiring an additional 944,847 shares during the last quarter.

Insider Buying and Selling at Reddit

In other news, CFO Andrew Vollero sold 30,000 shares of the company’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $218.09, for a total transaction of $6,542,700.00. Following the sale, the chief financial officer owned 284,168 shares of the company’s stock, valued at approximately $61,974,199.12. This represents a 9.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Steve Ladd Huffman sold 18,000 shares of Reddit stock in a transaction on Friday, August 29th. The shares were sold at an average price of $223.41, for a total value of $4,021,380.00. Following the completion of the transaction, the chief executive officer 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 420,126 shares of company stock worth $93,805,834. 34.25% of the stock is currently owned by corporate insiders.

Reddit Trading Up 2.0%

Shares of NYSE RDDT opened at $193.24 on Friday. The stock has a market capitalization of $36.62 billion, a PE ratio of 111.06, a PEG ratio of 2.09 and a beta of 2.14. Reddit Inc. has a twelve month low of $79.75 and a twelve month high of $282.95. The stock has a fifty day simple moving average of $218.30 and a 200-day simple moving average of $176.69.

Reddit (NYSE:RDDT) last announced its earnings results on Thursday, October 30th. The company reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.30. The company had revenue of $584.91 million during the quarter, compared to analysts’ expectations of $546.65 million. Reddit had a return on equity of 14.94% and a net margin of 18.33%.Reddit’s revenue for the quarter was up 67.9% on a year-over-year basis. During the same period last year, the business posted $0.16 EPS. Reddit has set its Q4 2025 guidance at EPS. On average, equities analysts predict that Reddit Inc. will post 1.12 earnings per share for the current year.

Wall Street Analysts Forecast Growth

RDDT has been the subject of a number of recent research reports. Wells Fargo & Company increased their price objective on shares of Reddit from $155.00 to $174.00 and gave the company a “cautious” rating in a report on Tuesday, October 7th. Guggenheim boosted their price objective on Reddit from $165.00 to $215.00 and gave the stock a “buy” rating in a research note on Friday, August 1st. B. Riley reaffirmed a “buy” rating and issued a $245.00 target price (up from $235.00) on shares of Reddit in a research note on Friday, October 31st. Raymond James Financial reissued a “strong-buy” rating and issued a $250.00 price objective (up previously from $225.00) on shares of Reddit in a report on Monday, October 20th. Finally, Argus assumed coverage on shares of Reddit in a report on Monday, August 18th. They issued a “buy” rating and a $250.00 target price on the stock. Three analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Reddit currently has an average rating of “Moderate Buy” and an average target price of $226.33.

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.