Prospera Financial Services Inc Purchases 728 Shares of Reddit Inc. $RDDT

Prospera Financial Services Inc increased its position in shares of Reddit Inc. (NYSE:RDDT) by 12.0% during the second quarter, HoldingsChannel.com reports. The firm owned 6,785 shares of the company’s stock after buying an additional 728 shares during the period. Prospera Financial Services Inc’s holdings in Reddit were worth $1,022,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Teacher Retirement System of Texas boosted its holdings in Reddit by 880.5% during the second quarter. Teacher Retirement System of Texas now owns 94,676 shares of the company’s stock valued at $14,255,000 after purchasing an additional 85,020 shares in the last quarter. Petrus Trust Company LTA bought a new position in shares of Reddit during the 1st quarter worth approximately $473,000. JPMorgan Chase & Co. lifted its position in shares of Reddit by 98.2% during the 1st quarter. JPMorgan Chase & Co. now owns 1,907,495 shares of the company’s stock worth $200,096,000 after buying an additional 944,847 shares during the period. Greycroft LP raised its stake in Reddit by 109.1% during the first quarter. Greycroft LP now owns 11,500 shares of the company’s stock worth $1,206,000 after acquiring an additional 6,000 shares in the last quarter. Finally, Think Investments LP boosted its stake in shares of Reddit by 10.3% in the 1st quarter. Think Investments LP now owns 268,000 shares of the company’s stock valued at $28,113,000 after purchasing an additional 25,000 shares in the last quarter.

Insider Buying and Selling

In other Reddit news, CFO Andrew Vollero sold 30,000 shares of the firm’s stock in a transaction dated 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 transaction, the chief financial officer owned 284,168 shares in the company, valued at approximately $61,974,199.12. This trade represents a 9.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Jennifer L. Wong sold 40,967 shares of the business’s stock in a transaction dated 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 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 disclosure for this sale is available in the SEC filing. Insiders have sold 434,126 shares of company stock valued at $97,231,634 over the last 90 days. Company insiders own 34.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Oppenheimer upped their price objective on shares of Reddit from $215.00 to $300.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 16th. 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 research note on Monday, October 20th. Wolfe Research raised Reddit to an “outperform” rating in a report on Sunday, August 3rd. Argus assumed coverage on shares of Reddit in a research report on Monday, August 18th. They issued a “buy” rating and a $250.00 price objective for the company. Finally, 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. Three equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Reddit has an average rating of “Moderate Buy” and an average price target of $226.33.

Reddit Trading Down 2.7%

Shares of NYSE RDDT opened at $202.65 on Thursday. Reddit Inc. has a 1 year low of $79.75 and a 1 year high of $282.95. The firm’s 50-day moving average is $220.10 and its 200-day moving average is $176.09. The firm has a market capitalization of $38.40 billion, a PE ratio of 116.46, a price-to-earnings-growth ratio of 2.29 and a beta of 2.14.

Reddit (NYSE:RDDT) last announced its quarterly earnings data on Thursday, October 30th. The company reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.30. Reddit had a net margin of 18.33% and a return on equity of 14.94%. The firm had revenue of $585.00 million for the quarter, compared to analysts’ expectations of $546.65 million. During the same period last year, the firm earned $0.16 earnings per share. The business’s revenue for the quarter was up 67.9% on a year-over-year basis. Reddit has set its Q4 2025 guidance at EPS. As a group, equities research analysts anticipate that Reddit Inc. will post 1.12 earnings per share for the current fiscal year.

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.