Platinum Investment Management Ltd. Buys 95 Shares of Reddit Inc. $RDDT

Platinum Investment Management Ltd. boosted its holdings in shares of Reddit Inc. (NYSE:RDDT) by 4.3% in the 2nd quarter, Holdings Channel.com reports. The firm owned 2,322 shares of the company’s stock after purchasing an additional 95 shares during the quarter. Platinum Investment Management Ltd.’s holdings in Reddit were worth $350,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in RDDT. Mackenzie Financial Corp bought a new stake in Reddit during the 4th quarter valued at approximately $316,000. Wealth Enhancement Advisory Services LLC bought a new stake in Reddit during the 4th quarter valued at approximately $2,208,000. Rhumbline Advisers boosted 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 during the period. Boltwood Capital Management bought a new stake in Reddit during the 1st quarter valued at approximately $1,256,000. Finally, SeaCrest Wealth Management LLC boosted its stake in Reddit by 16.7% during the 1st quarter. SeaCrest Wealth Management LLC now owns 2,475 shares of the company’s stock valued at $260,000 after purchasing an additional 354 shares during the period.

Insider Buying and Selling

In other news, COO Jennifer L. Wong sold 40,967 shares of the stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $220.38, for a total value of $9,028,307.46. Following the completion of the transaction, the chief operating officer directly owned 120,033 shares of the company’s stock, valued at approximately $26,452,872.54. This represents a 25.45% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Andrew Vollero sold 30,000 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $218.09, for a total value of $6,542,700.00. Following the completion of the transaction, the chief financial officer directly owned 284,168 shares of the company’s stock, valued at approximately $61,974,199.12. The trade was a 9.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 379,834 shares of company stock valued at $82,388,799. 34.25% of the stock is currently owned by corporate insiders.

Reddit Trading Down 11.8%

Shares of RDDT stock opened at $202.77 on Thursday. The stock has a 50 day moving average of $222.56 and a two-hundred day moving average of $155.04. Reddit Inc. has a 12 month low of $64.90 and a 12 month high of $282.95. The company has a market capitalization of $37.95 billion, a P/E ratio of 184.33, a P/E/G ratio of 3.62 and a beta of 2.24.

Reddit (NYSE:RDDT) last issued its earnings results on Thursday, July 31st. The company reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.25. Reddit had a return on equity of 9.93% and a net margin of 12.97%.The business had revenue of $499.63 million during the quarter, compared to analysts’ expectations of $424.07 million. During the same period in the prior year, the firm posted ($0.06) EPS. Reddit’s quarterly revenue was up 77.9% compared to the same quarter last year. Reddit has set its Q3 2025 guidance at EPS. Sell-side analysts predict that Reddit Inc. will post 1.12 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently weighed in on RDDT. JMP Securities increased their target price on Reddit from $225.00 to $300.00 and gave the company a “market outperform” rating in a research note on Thursday, September 18th. Piper Sandler increased their target price on Reddit from $210.00 to $290.00 and gave the company an “overweight” rating in a research note on Thursday, September 18th. Guggenheim raised their price objective on Reddit from $165.00 to $215.00 and gave the stock a “buy” rating in a research report on Friday, August 1st. Argus initiated coverage on Reddit in a research report on Monday, August 18th. They issued a “buy” rating and a $250.00 price objective for the company. Finally, Cannonball Research reiterated a “buy” rating on shares of Reddit in a research report on Tuesday, September 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $201.58.

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.