Reddit (NYSE:RDDT) Trading 10.1% Higher – What’s Next?

by · The Cerbat Gem

Reddit Inc. (NYSE:RDDT – Get Free Report) shares traded up 10.1% on Tuesday . The company traded as high as $212.80 and last traded at $214.63. 4,426,605 shares traded hands during trading, a decline of 39% from the average session volume of 7,233,592 shares. The stock had previously closed at $195.00.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on RDDT shares. Roth Capital set a $210.00 price target on Reddit in a report on Friday, October 31st. Piper Sandler reiterated an “overweight” rating and issued a $290.00 target price on shares of Reddit in a research note on Friday, October 3rd. Weiss Ratings restated a “hold (c)” rating on shares of Reddit in a research note on Thursday, November 13th. Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of Reddit in a research note on Wednesday, October 1st. Finally, Raymond James Financial reiterated a “strong-buy” rating and issued a $250.00 price objective (up from $225.00) on shares of Reddit in a report on Monday, October 20th. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Reddit presently has an average rating of “Moderate Buy” and an average target price of $226.33.

Get Our Latest Stock Report on Reddit

Reddit Trading Up 12.1%

The stock has a market cap of $41.44 billion, a P/E ratio of 124.99, a P/E/G ratio of 2.02 and a beta of 2.15. The firm’s fifty day moving average is $210.57 and its 200 day moving average is $180.67.

Reddit (NYSE:RDDT – Get Free Report) last released its quarterly earnings results 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. The company had revenue of $584.91 million during the quarter, compared to analysts’ expectations of $546.65 million. Reddit had a net margin of 18.33% and a return on equity of 14.94%. The business’s quarterly revenue was up 67.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.16 earnings per share. Reddit has set its Q4 2025 guidance at EPS. Research analysts forecast that Reddit Inc. will post 1.12 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Reddit news, COO Jennifer L. Wong sold 63,427 shares of the firm’s stock in a transaction on Monday, November 24th. The shares were sold at an average price of $192.72, for a total value of $12,223,651.44. Following the sale, the chief operating officer directly owned 1,184,528 shares in the company, valued at $228,282,236.16. This trade represents a 5.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Steve Ladd Huffman sold 18,000 shares of the company’s stock in a transaction dated Tuesday, September 30th. The shares were sold at an average price of $229.10, for a total transaction of $4,123,800.00. Following the transaction, the chief executive officer directly owned 494,104 shares of the company’s stock, valued at $113,199,226.40. This represents a 3.51% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 424,370 shares of company stock valued at $89,848,384 in the last three months. 34.25% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Reddit

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Raiffeisen Bank International AG acquired a new position in shares of Reddit in the 3rd quarter valued at $25,000. GW&K Investment Management LLC bought a new position in Reddit during the third quarter worth about $30,000. Cornerstone Planning Group LLC boosted its holdings in Reddit by 13,500.0% during the third quarter. Cornerstone Planning Group LLC now owns 136 shares of the company’s stock valued at $31,000 after purchasing an additional 135 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Reddit by 8,650.0% in the 3rd quarter. GAMMA Investing LLC now owns 175 shares of the company’s stock valued at $40,000 after purchasing an additional 173 shares during the period. Finally, Cloud Capital Management LLC acquired a new position in shares of Reddit in the 3rd quarter worth approximately $47,000.

About Reddit

(Get Free Report)

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.

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