Circle Wealth Management LLC Boosts Stock Holdings in Reddit Inc. $RDDT

Circle Wealth Management LLC increased its position in shares of Reddit Inc. (NYSE:RDDT) by 16.1% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,678 shares of the company’s stock after purchasing an additional 509 shares during the period. Circle Wealth Management LLC’s holdings in Reddit were worth $386,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in RDDT. CWM LLC raised its holdings in Reddit by 100.0% during the first quarter. CWM LLC now owns 256 shares of the company’s stock worth $27,000 after purchasing an additional 128 shares in the last quarter. Stone House Investment Management LLC acquired a new position in Reddit during the first quarter worth about $31,000. Canton Hathaway LLC acquired a new position in Reddit during the first quarter worth about $43,000. Olde Wealth Management LLC acquired a new position in Reddit during the first quarter worth about $46,000. Finally, Fourth Dimension Wealth LLC acquired a new position in Reddit during the fourth quarter worth about $49,000.

Insider Activity

In related news, CEO Steve Ladd Huffman sold 14,000 shares of the firm’s stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $244.70, for a total transaction of $3,425,800.00. Following the sale, the chief executive officer owned 531,485 shares in the company, valued at approximately $130,054,379.50. This trade represents a 2.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Christopher Brian Slowe sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $220.25, for a total transaction of $2,202,500.00. Following the sale, the chief technology officer owned 212,534 shares in the company, valued at approximately $46,810,613.50. This trade represents a 4.49% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 411,004 shares of company stock valued at $64,005,737 in the last 90 days. Insiders own 34.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Argus assumed coverage on shares of Reddit in a research report on Monday, August 18th. They set a “buy” rating and a $250.00 target price on the stock. Robert W. Baird upped their target price on shares of Reddit from $120.00 to $151.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 8th. Guggenheim upped their target price on shares of Reddit from $165.00 to $215.00 and gave the stock a “buy” rating in a research report on Friday, August 1st. JPMorgan Chase & Co. upped their target price on shares of Reddit from $145.00 to $190.00 and gave the stock a “neutral” rating in a research report on Friday, August 1st. Finally, Royal Bank Of Canada restated a “sector perform” rating and set a $210.00 target price on shares of Reddit in a research report on Friday. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Reddit has a consensus rating of “Moderate Buy” and an average price target of $175.38.

Reddit Price Performance

RDDT stock opened at $217.2850 on Friday. The company’s 50 day simple moving average is $169.82 and its 200-day simple moving average is $142.17. The firm has a market capitalization of $40.67 billion, a PE ratio of 197.53, a P/E/G ratio of 3.47 and a beta of 2.30. Reddit Inc. has a 12 month low of $55.02 and a 12 month high of $253.14.

Reddit (NYSE:RDDT) last released its quarterly earnings results on Thursday, July 31st. The company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.20 by $0.25. The business had revenue of $499.63 million for 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 company’s quarterly revenue was up 77.9% on a year-over-year basis. During the same period in the prior year, the business earned ($0.06) earnings per share. Reddit has set its Q3 2025 guidance at EPS. As a group, sell-side analysts anticipate that Reddit Inc. will post 1.12 earnings per share for the current year.

About Reddit

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.