NFSG Corp Decreases Stake in Reddit Inc. $RDDT

NFSG Corp reduced its stake in shares of Reddit Inc. (NYSE:RDDT) by 92.2% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 430 shares of the company’s stock after selling 5,057 shares during the quarter. NFSG Corp’s holdings in Reddit were worth $58,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in RDDT. LOM Asset Management Ltd acquired a new position in shares of Reddit in the 4th quarter valued at $33,000. Noble Wealth Management PBC acquired a new stake in Reddit during the 4th quarter worth about $34,000. Summit Securities Group LLC purchased a new stake in Reddit during the 4th quarter valued at about $46,000. Sound Income Strategies LLC purchased a new stake in Reddit during the 4th quarter valued at about $47,000. Finally, ORG Partners LLC increased its holdings in shares of Reddit by 105.9% in the fourth quarter. ORG Partners LLC now owns 208 shares of the company’s stock valued at $48,000 after purchasing an additional 107 shares during the period.

Analyst Ratings Changes

Several brokerages have recently issued reports on RDDT. Jefferies Financial Group set a $250.00 price objective on Reddit in a research note on Friday, July 10th. Oppenheimer reiterated an “outperform” rating and issued a $225.00 target price on shares of Reddit in a research report on Friday, May 1st. Citizens Jmp cut their price target on shares of Reddit from $250.00 to $240.00 and set a “market outperform” rating on the stock in a report on Friday, May 1st. Truist Financial set a $265.00 price target on shares of Reddit in a research report on Friday, May 1st. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Reddit in a research note on Friday, May 8th. Nineteen investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $231.79.

Reddit Stock Performance

NYSE RDDT opened at $185.01 on Friday. The firm has a market capitalization of $35.62 billion, a P/E ratio of 52.86 and a beta of 1.93. The stock has a 50-day simple moving average of $172.26 and a two-hundred day simple moving average of $169.66. Reddit Inc. has a fifty-two week low of $119.27 and a fifty-two week high of $282.95.

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

Key Headlines Impacting Reddit

Here are the key news stories impacting Reddit this week:

• Positive Sentiment: Wedbush initiated coverage on Reddit with an Outperform rating and a $250 price target, implying meaningful upside from recent levels and highlighting confidence in Reddit’s ad business and AI/licensing opportunities. Article Title
• Positive Sentiment: Another report said Reddit could be 47% undervalued based on AI and advertising growth potential, reinforcing the view that Wall Street still sees room for expansion. Article Title
• Positive Sentiment: Jefferies said Reddit is likely to beat second-quarter revenue and EBITDA estimates, citing strong ad checks and improving user growth ahead of earnings. Article Title
• Neutral Sentiment: Additional media coverage and analyst commentary have put Reddit in the spotlight, which may be increasing trading volatility without changing the underlying fundamentals. Article Title
• Negative Sentiment: Some market commentary focused on why the shares fell more than the broader market, indicating investors remain sensitive to valuation after the stock’s recent gains. Article Title

Insider Buying and Selling at Reddit

In other news, CAO Michelle Marie Reynolds sold 808 shares of the firm’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $200.00, for a total transaction of $161,600.00. Following the sale, the chief accounting officer owned 15,060 shares of the company’s stock, valued at $3,012,000. This trade represents a 5.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Jennifer L. Wong sold 39,167 shares of Reddit stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $158.52, for a total transaction of $6,208,752.84. Following the transaction, the chief operating officer directly owned 1,088,451 shares of the company’s stock, valued at approximately $172,541,252.52. This trade represents a 3.47% decrease in their ownership of the stock. 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. Over the last ninety days, insiders sold 169,141 shares of company stock valued at $28,680,845. 28.48% of the stock is owned by company insiders.

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.