Provenance Wealth Advisors LLC Makes New $775,000 Investment in Reddit Inc. $RDDT

05 Nov 2026, 05:46 by Amy Steele · The Cerbat Gem

Provenance Wealth Advisors LLC acquired a new position in shares of Reddit Inc. (NYSE:RDDT – Free Report) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 5,444 shares of the company’s stock, valued at approximately $775,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in RDDT. Wellington Management Group LLP boosted its holdings in Reddit by 21.8% during the second quarter. Wellington Management Group LLP now owns 1,564,535 shares of the company’s stock valued at $271,572,000 after purchasing an additional 280,030 shares in the last quarter. State Street Corp grew its stake in shares of Reddit by 8.7% in the 2nd quarter. State Street Corp now owns 2,979,587 shares of the company’s stock valued at $517,197,000 after purchasing an additional 237,523 shares during the period. Moore Capital Management LP grew its stake in shares of Reddit by 611.4% in the 2nd quarter. Moore Capital Management LP now owns 12,577 shares of the company’s stock valued at $2,183,000 after purchasing an additional 10,809 shares during the period. Light Street Capital Management LLC acquired a new position in shares of Reddit in the 2nd quarter worth approximately $31,678,000. Finally, PensionDanmark Pensionsforsikringsaktieselskab raised its holdings in shares of Reddit by 102.3% in the 2nd quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 19,120 shares of the company’s stock worth $3,319,000 after buying an additional 9,670 shares in the last quarter.

Insider Buying and Selling

In other Reddit news, Director Robert A. Sauerberg sold 5,128 shares of Reddit stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $159.92, for a total value of $820,069.76. Following the completion of the transaction, the director owned 27,087 shares in the company, valued at approximately $4,331,753.04. The trade was a 15.92% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Jennifer L. Wong sold 60,000 shares of the business’s stock in a transaction on Wednesday, October 14th. The stock was sold at an average price of $150.55, for a total value of $9,033,000.00. Following the completion of the transaction, the chief operating officer directly owned 1,012,226 shares in the company, valued at approximately $152,390,624.30. This represents a 5.60% 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 have sold a total of 288,052 shares of company stock worth $46,878,483 in the last three months. Insiders own 28.48% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on RDDT shares. President Capital cut their target price on Reddit from $207.00 to $199.00 and set a “buy” rating for the company in a research report on Thursday, September 17th. Oppenheimer cut Reddit from an “outperform” rating to a “market perform” rating in a research report on Friday, October 30th. Telsey Advisory Group set a $240.00 price objective on Reddit in a research note on Friday, July 31st. Citizens Jmp lowered Reddit from a “market outperform” rating to a “market perform” rating in a research note on Friday, October 30th. Finally, Wells Fargo & Company cut their price objective on Reddit from $142.00 to $110.00 and set an “equal weight” rating for the company in a report on Friday, October 30th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and fifteen have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $180.91.

Read Our Latest Analysis on Reddit

Reddit Trading Up 5.9%

Shares of Reddit stock opened at $101.83 on Thursday. The stock has a market capitalization of $19.59 billion, a price-to-earnings ratio of 20.78, a P/E/G ratio of 0.39 and a beta of 2.28. The firm’s 50-day moving average price is $146.78 and its two-hundred day moving average price is $158.00. Reddit Inc. has a 1-year low of $89.28 and a 1-year high of $263.50.

Reddit (NYSE:RDDT – Get Free Report) last posted its earnings results on Thursday, October 29th. The company reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.33 by $0.07. The company had revenue of $894.96 million during the quarter, compared to analysts’ expectations of $874.91 million. Reddit had a net margin of 32.10% and a return on equity of 30.57%. Reddit’s quarterly revenue was up 53.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.80 earnings per share. As a group, equities research analysts predict that Reddit Inc. will post 5.42 EPS for the current year.

More Reddit News

Here are the key news stories impacting Reddit this week:

Positive Sentiment: Reddit’s latest reported quarter showed revenue up 53% year over year, with both revenue and earnings per share above consensus. Strong ad growth and user engagement support the longer-term case. Zacks article
Positive Sentiment: The company is testing ads in search results, creating another potential way to monetize existing users as it adapts to changes in how people find Reddit content. TechCrunch article
Neutral Sentiment: KeyCorp raised its 2026 EPS estimate to $5.41 from $4.90, but cut its 2027 estimate to $6.39 from $6.92 and its 2028 estimate to $7.06 from $8.73. Its Sector Weight rating signals a mixed outlook. MarketBeat analyst estimates
Neutral Sentiment: Reddit and a rights group are challenging Australia’s under-16 social-media ban in court. The case raises potential regulatory and access questions, but its business impact is uncertain. Sky News article
Negative Sentiment: Investors remain concerned about falling search traffic and weaker-than-expected revenue guidance, which prompted a steep post-quarter selloff and renewed questions about growth. Yahoo Finance article
Negative Sentiment: Loop Capital and Evercore lowered their ratings, adding to pressure on sentiment amid concerns about growth and valuation. Loop Capital rating article Evercore rating article

Reddit Profile

(Free Report)

Reddit, Inc operates a global online platform where users participate in communities organized around shared interests, topics and activities. Members can submit text posts, links, images and videos, as well as comment on and vote on content. The platform includes thousands of communities, commonly known as subreddits, covering subjects such as news, entertainment, technology, sports, finance and lifestyle.