<div id="readability-page-1"><p>Destiny Wealth Partners LLC lessened its stake in  Reddit Inc. (NYSE:RDDT - Free Report) by 26.3% during the third quarter, according to its most recent Form 13F filing with the Securities &amp; Exchange Commission. The institutional investor  owned 28,721 shares of the company's stock after selling 10,251 shares during the quarter. Destiny Wealth Partners LLC's holdings in Reddit were worth $6,606,000 at the end of the most recent reporting period.</p><ul><li>MarketBeat Week in Review – 10/13 - 10/17 </li></ul><p>Other institutional investors have also bought and sold shares of the company. Kovitz Investment Group Partners LLC raised its position in  Reddit by 78.7% in the 1st quarter. Kovitz Investment Group Partners LLC now owns 2,271 shares of the company's stock valued at $238,000 after buying an additional 1,000 shares during the last quarter.  American Century Companies Inc. grew its stake in shares of  Reddit by 35.0% in the 1st quarter. American Century Companies Inc. now owns 11,523 shares of the company's stock worth $1,209,000 after acquiring an additional 2,987 shares in the last quarter.  State of New Jersey Common Pension Fund D raised its holdings in shares of  Reddit by 7.2% in the first quarter. State of New Jersey Common Pension Fund D now owns 23,131 shares of the company's stock valued at $2,426,000 after purchasing an additional 1,548 shares during the last quarter.  Northwest &amp; Ethical Investments L.P. raised its holdings in shares of  Reddit by 23.4% in the first quarter. Northwest &amp; Ethical Investments L.P. now owns 3,054 shares of the company's stock valued at $320,000 after purchasing an additional 579 shares during the last quarter.  Finally, Versor Investments LP bought a new position in shares of  Reddit during the first quarter valued at about $231,000. </p><h2>Reddit Price Performance</h2><p>Shares of RDDT opened at $223.78 on Wednesday. Reddit Inc. has a 1 year low of $79.75 and a 1 year high of $282.95. The stock's fifty day moving average price is $206.94 and its two-hundred day moving average price is $193.76. The firm has a market cap of $42.41 billion, a PE ratio of 128.61, a PEG ratio of 2.41 and a beta of 2.17. </p><ul><li>Is the Reddit-ChatGPT Love Affair Over?</li></ul><p>Reddit (NYSE:RDDT - Get Free Report) last announced its quarterly earnings data on Thursday, October 30th. The company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.30. Reddit had a return on equity of 14.94% and a net margin of 18.33%.The company had revenue of $584.91 million during the quarter, compared to analyst estimates of $546.65 million. During the same quarter last year, the firm posted $0.16 EPS. The firm's revenue for the quarter was up 67.9% on a year-over-year basis.  Sell-side analysts anticipate that  Reddit Inc. will post 1.12 earnings per share for the current fiscal year. </p><h2>Insider Buying and Selling</h2><p>In other Reddit news, CAO Michelle Marie Reynolds sold 11,249 shares of the business's stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $232.95, for a total transaction of $2,620,454.55. Following the sale, the chief accounting officer owned 10,558 shares of the company's stock, valued at $2,459,486.10. The trade was a 51.58% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Steve Ladd Huffman sold 18,000 shares of the firm's stock in a transaction on Friday, November 28th. The stock was sold at an average price of $215.19, for a total value of $3,873,420.00. Following the completion of the transaction, the chief executive officer directly owned 448,576 shares of the company's stock, valued at $96,529,069.44. The trade was a 3.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 387,619 shares of company stock valued at $81,040,938. Corporate insiders own  34.25% of the company's stock. </p><h2>Analyst Ratings Changes</h2><ul><li>Reddit Hits Record Highs: Why Wall Street Is Taking Notice</li></ul><p>A number of equities research analysts have issued reports on the stock. JMP Securities  reaffirmed a &#34;market outperform&#34; rating and issued a $300.00 price objective on shares of Reddit in a research report on Friday, October 3rd. Weiss Ratings  reaffirmed a &#34;hold (c-)&#34; rating on shares of Reddit in a report on Monday. Cannonball Research  reiterated a &#34;buy&#34; rating on shares of Reddit in a report on Tuesday, September 23rd. B. Riley  reissued a &#34;buy&#34; rating and issued a $245.00 price objective (up previously from $235.00) on shares of Reddit in a research report on Friday, October 31st. Finally, Needham &amp; Company LLC  reaffirmed a &#34;buy&#34; rating and set a $300.00 target price on shares of Reddit in a research report on Friday, October 31st. Three analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, nine have given a Hold rating and two have issued  a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of &#34;Moderate Buy&#34; and an average target price of $230.28.</p><p><b>Read Our Latest Stock Analysis on RDDT</b></p><h2>About Reddit</h2> (Free Report)<p>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.</p><h2>Featured Stories</h2><ul><li>Five stocks we like better than Reddit</li><li>Investing In Automotive Stocks</li><li>Why Taiwan Semiconductor's 6.5% Dip Could Be a Smart Buy</li><li>Business Services Stocks Investing</li><li>RTX Surges to Record Highs as Defense Orders Explode</li><li>How to invest in marijuana stocks in 7 steps </li><li>Smart Money Is Buying Auto Suppliers, Not Car Brands</li></ul><p><img src="https://imageproxy.pbkrs.com/https://www.marketbeat.com/scripts/SECFilingChart.ashx/query-UHJlZml4PU5ZU0UmU3ltYm9sPVJERFQ?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="650" height="350" original-src="https://imageproxy.pbkrs.com/https://www.marketbeat.com/scripts/SECFilingChart.ashx/query-UHJlZml4PU5ZU0UmU3ltYm9sPVJERFQ"/></p><p><em>This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.</em></p><h2>Should You Invest $1,000 in Reddit Right Now?</h2><p>Before you consider Reddit, you'll want to hear this.</p><p>MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Reddit wasn't on the list.</p><p>While Reddit currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.</p><p>View The Five Stocks Here</p>                  </div>

RDDT

<p>Destiny Wealth Partners LLC reduced its stake in Reddit Inc. by 26.3% in the third quarter, selling 10,251 shares and holding 28,721 shares worth $6,606,000. Other institutional investors also adjusted their positions in Reddit. Reddit's stock opened at $223.78, with a market cap of $42.41 billion. The company reported strong quarterly earnings, with revenue up 67.9% year-over-year. Insider trading included significant sales by the CAO and CEO. Analysts have mixed ratings on Reddit's stock.</p>

Destiny Wealth Partners LLC Lowers Position in Reddit Inc. $RDDT