6,000 Shares in Reddit Inc. $RDDT Bought by Monetta Financial Services Inc.

Monetta Financial Services Inc. purchased a new stake in shares of Reddit Inc. (NYSE:RDDT) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 6,000 shares of the company’s stock, valued at approximately $1,041,000.

Other hedge funds have also recently bought and sold shares of the company. Truist Financial Corp grew its position in Reddit by 67.7% during the fourth quarter. Truist Financial Corp now owns 15,659 shares of the company’s stock valued at $3,600,000 after purchasing an additional 6,321 shares in the last quarter. Swiss Life Asset Management Ltd increased its position in Reddit by 63.2% in the 4th quarter. Swiss Life Asset Management Ltd now owns 32,003 shares of the company’s stock worth $7,357,000 after buying an additional 12,398 shares during the period. Calamos Advisors LLC bought a new position in shares of Reddit during the 4th quarter worth about $2,299,000. Handelsbanken Fonder AB increased its position in shares of Reddit by 22.9% during the fourth quarter. Handelsbanken Fonder AB now owns 37,000 shares of the company’s stock valued at $8,505,000 after purchasing an additional 6,900 shares during the period. Finally, Berkshire Capital Holdings Inc. raised its position in Reddit by 326,400.0% in the fourth quarter. Berkshire Capital Holdings Inc. now owns 32,650 shares of the company’s stock worth $7,505,000 after purchasing an additional 32,640 shares in the last quarter.

Key Headlines Impacting Reddit

Here are the key news stories impacting Reddit this week:

• Positive Sentiment: Reddit’s inclusion in the S&P 500 should improve its visibility and may create ongoing demand from index-tracking funds. Analysts remain broadly constructive, with reported average price targets above recent trading levels. Reddit Stock Falls Ahead of Joining the S&P 500
• Positive Sentiment: Reddit’s advertising business continues to be viewed as a major growth driver. Rapid ad growth and an expanding advertiser base could give the company an advantage over Meta Platforms, although RDDT carries a richer valuation. RDDT vs. META: Which Digital Advertising Stock Has an Edge Right Now?
• Neutral Sentiment: Recent commentary cautions that the S&P 500 “index effect” may be less powerful than expected because much of the buying could have occurred before the effective inclusion date. The event may therefore support visibility without producing a sustained rally. Reddit: Curb Your Enthusiasm About The Index Effect
• Neutral Sentiment: Reddit recently delivered strong quarterly results, including revenue growth of 61% year over year and earnings above consensus estimates. However, investors are now focused more on whether that growth can continue amid market concerns. RDDT Stock Dips Premarket As S&P 500 Inclusion Boost Wanes
• Negative Sentiment: Search-traffic risks are weighing on the outlook. Any decline in visits originating from search engines could reduce user growth, engagement and the inventory available for advertising. Search Traffic Risks for Reddit
• Negative Sentiment: CEO Steve Huffman sold 18,000 shares and COO Jennifer Wong sold 75,000 shares in transactions conducted under pre-arranged Rule 10b5-1 plans. The planned sales reduce their significance, but insider selling can still pressure investor sentiment. SEC filing for Jennifer Wong share sale SEC filing for Steve Huffman share sale

Reddit Trading Down 4.1%

Shares of RDDT stock opened at $151.77 on Thursday. The firm has a market capitalization of $29.20 billion, a price-to-earnings ratio of 35.30, a PEG ratio of 0.53 and a beta of 2.03. The business’s 50-day moving average price is $174.35 and its 200-day moving average price is $158.71. Reddit Inc. has a 12 month low of $119.27 and a 12 month high of $282.95.

Reddit (NYSE:RDDT) last issued its quarterly earnings results on Thursday, July 30th. The company reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.30. The business had revenue of $804.91 million for the quarter, compared to analysts’ expectations of $731.00 million. Reddit had a net margin of 31.35% and a return on equity of 29.02%. The business’s quarterly revenue was up 61.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.45 earnings per share. On average, sell-side analysts predict that Reddit Inc. will post 5.22 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on RDDT shares. Piper Sandler reissued an “overweight” rating and issued a $195.00 target price (down from $215.00) on shares of Reddit in a report on Friday, July 31st. JPMorgan Chase & Co. lowered their price target on shares of Reddit from $200.00 to $185.00 and set a “neutral” rating for the company in a research report on Friday, July 31st. Guggenheim reissued a “buy” rating on shares of Reddit in a research note on Friday, July 31st. Wells Fargo & Company lowered their target price on shares of Reddit from $187.00 to $142.00 and set an “equal weight” rating for the company in a research note on Friday, July 31st. Finally, Jefferies Financial Group set a $250.00 target price on shares of Reddit in a report on Friday, July 10th. Three research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $221.71.

Insider Buying and Selling

In related news, CEO Steve Ladd Huffman sold 18,000 shares of the firm’s stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $178.16, for a total value of $3,206,880.00. Following the completion of the transaction, the chief executive officer directly owned 373,814 shares of the company’s stock, valued at approximately $66,598,702.24. This trade represents a 4.59% decrease in their position. The transaction was disclosed in a 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 stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $200.00, for a total value 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 trade represents a 5.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 204,974 shares of company stock valued at $36,025,162. 28.48% of the stock is owned by company insiders.

Reddit Company 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.