Sierra Summit Advisors LLC Acquires 36,371 Shares of Reddit Inc. $RDDT

Sierra Summit Advisors LLC lifted its holdings in Reddit Inc. (NYSE:RDDT) by 92.9% in the 1st quarter, Holdings Channel.com reports. The firm owned 75,536 shares of the company’s stock after buying an additional 36,371 shares during the quarter. Reddit makes up about 1.5% of Sierra Summit Advisors LLC’s holdings, making the stock its 28th largest holding. Sierra Summit Advisors LLC’s holdings in Reddit were worth $10,171,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of RDDT. Y Intercept Hong Kong Ltd lifted its stake in Reddit by 1,498.6% in the first quarter. Y Intercept Hong Kong Ltd now owns 84,404 shares of the company’s stock valued at $11,365,000 after buying an additional 79,124 shares in the last quarter. Leonteq Securities AG increased its position in shares of Reddit by 54.5% during the first quarter. Leonteq Securities AG now owns 5,776 shares of the company’s stock worth $778,000 after acquiring an additional 2,038 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its position in shares of Reddit by 46.7% during the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 36,387 shares of the company’s stock worth $4,900,000 after acquiring an additional 11,587 shares in the last quarter. WD Rutherford LLC raised its holdings in shares of Reddit by 19.0% during the first quarter. WD Rutherford LLC now owns 12,162 shares of the company’s stock worth $1,638,000 after acquiring an additional 1,946 shares during the period. Finally, USS Investment Management Ltd acquired a new stake in shares of Reddit during the first quarter worth $22,504,000.

Analyst Upgrades and Downgrades

RDDT has been the topic of several research reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Reddit in a research report on Friday, May 8th. Raymond James Financial set a $180.00 price target on Reddit and gave the company a “market perform” rating in a research note on Friday, May 1st. Rothschild & Co Redburn set a $110.00 price target on Reddit in a report on Monday, April 27th. Citigroup reaffirmed a “market outperform” rating on shares of Reddit in a research report on Tuesday, May 26th. Finally, Loop Capital reiterated a “buy” rating and set a $260.00 price objective on shares of Reddit in a report on Thursday, June 4th. Eighteen investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Reddit has a consensus rating of “Moderate Buy” and an average price target of $230.75.

Insider Transactions at Reddit

In related news, COO Jennifer L. Wong sold 39,167 shares of the company’s stock in a transaction dated Thursday, April 16th. The stock was sold at an average price of $161.47, for a total transaction of $6,324,295.49. Following the sale, the chief operating officer owned 1,088,451 shares in the company, valued at approximately $175,752,182.97. This represents a 3.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Christopher Brian Slowe sold 15,500 shares of the company’s stock in a transaction dated Wednesday, April 8th. The stock was sold at an average price of $150.67, for a total value of $2,335,385.00. Following the sale, the chief technology officer owned 38,413 shares in the company, valued at $5,787,686.71. The trade was a 28.75% 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. Insiders sold a total of 241,000 shares of company stock worth $40,030,125 in the last three months. Insiders own 28.48% of the company’s stock.

Key Headlines Impacting Reddit

Here are the key news stories impacting Reddit this week:

• Positive Sentiment: Options activity jumped as traders bought far more Reddit call options than usual, suggesting rising bullish sentiment and expectations for further upside. Why is Reddit (RDDT) stock soaring today
• Positive Sentiment: Analysts and market commentary highlighted Reddit’s stronger engagement, international expansion, and new ad tools, reinforcing the company’s long-term growth narrative despite recent volatility. Reddit Stock Falls 28.2% in 6 Months: Should You Buy the Dip?
• Neutral Sentiment: Reddit’s CEO sold 18,000 shares under a pre-arranged 10b5-1 plan. While the sale is worth watching, the transaction was disclosed as part of a scheduled trading program and does not necessarily signal a change in business outlook. SEC filing
• Neutral Sentiment: Some of Thursday’s weakness appears to be simple profit-taking after a 12.5% surge tied to optimism about Reddit’s AI data-licensing opportunities. Why Is Reddit Stock Pulling Back on Thursday?

Reddit Trading Down 1.6%

Shares of RDDT opened at $194.57 on Friday. Reddit Inc. has a 12 month low of $119.27 and a 12 month high of $282.95. The firm has a fifty day simple moving average of $164.32 and a 200 day simple moving average of $171.75. The stock has a market capitalization of $37.46 billion, a price-to-earnings ratio of 55.59 and a beta of 1.93.

Reddit (NYSE:RDDT) last issued its quarterly earnings results on Thursday, April 30th. The company reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.39. Reddit had a net margin of 28.60% and a return on equity of 25.48%. The firm had revenue of $663.41 million for the quarter, compared to analyst estimates of $607.74 million. During the same period in the previous year, the business earned $0.13 EPS. The company’s revenue was up 69.1% compared to the same quarter last year. As a group, research analysts predict that Reddit Inc. will post 4.83 earnings per share for the current fiscal year.

Reddit 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.