CreativeOne Wealth LLC Acquires New Holdings in Reddit Inc. $RDDT

CreativeOne Wealth LLC bought a new position in shares of Reddit Inc. (NYSE:RDDT) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,377 shares of the company’s stock, valued at approximately $358,000.

A number of other institutional investors have also recently bought and sold shares of the stock. Resona Asset Management Co. Ltd. increased its position in shares of Reddit by 0.3% during the second quarter. Resona Asset Management Co. Ltd. now owns 20,201 shares of the company’s stock worth $3,023,000 after acquiring an additional 65 shares in the last quarter. Congress Park Capital LLC boosted its stake in Reddit by 2.0% in the 2nd quarter. Congress Park Capital LLC now owns 3,885 shares of the company’s stock worth $585,000 after purchasing an additional 76 shares during the period. Platinum Investment Management Ltd. boosted its stake in Reddit by 4.3% in the 2nd quarter. Platinum Investment Management Ltd. now owns 2,322 shares of the company’s stock worth $350,000 after purchasing an additional 95 shares during the period. CWM LLC increased its holdings in Reddit by 100.0% during the 1st quarter. CWM LLC now owns 256 shares of the company’s stock worth $27,000 after purchasing an additional 128 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its stake in shares of Reddit by 12.5% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 1,323 shares of the company’s stock valued at $139,000 after purchasing an additional 147 shares during the period.

Reddit Stock Up 4.5%

Shares of Reddit stock opened at $216.90 on Monday. The stock has a market cap of $41.10 billion, a P/E ratio of 124.66, a P/E/G ratio of 2.38 and a beta of 2.17. Reddit Inc. has a 12-month low of $79.75 and a 12-month high of $282.95. The business’s 50 day moving average is $206.20 and its 200-day moving average is $183.44.

Reddit (NYSE:RDDT) last released its earnings results on Thursday, October 30th. The company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.30. The business 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 firm’s revenue was up 67.9% on a year-over-year basis. During the same period last year, the business earned $0.16 earnings per share. Reddit has set its Q4 2025 guidance at EPS. On average, sell-side analysts expect that Reddit Inc. will post 1.12 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Roth Capital set a $210.00 price objective on Reddit in a research report on Friday, October 31st. Zacks Research upgraded Reddit from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 29th. Wolfe Research raised shares of Reddit to an “outperform” rating in a research note on Sunday, August 3rd. Wells Fargo & Company lifted their price objective on shares of Reddit from $155.00 to $174.00 and gave the company a “cautious” rating in a report on Tuesday, October 7th. Finally, Truist Financial set a $270.00 target price on shares of Reddit in a report on Friday, October 31st. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $226.33.

Insider Activity

In other news, CTO Christopher Brian Slowe sold 24,000 shares of the business’s stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $192.72, for a total transaction of $4,625,280.00. Following the transaction, the chief technology officer directly owned 175,694 shares in the company, valued at $33,859,747.68. The trade was a 12.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 completion of the sale, the chief executive officer directly owned 494,104 shares in the company, valued at approximately $113,199,226.40. The trade was a 3.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 406,370 shares of company stock worth $85,827,004. Insiders own 34.25% of the company’s stock.

About Reddit

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.