17,704 Shares in Reddit Inc. $RDDT Bought by Police & Firemen s Retirement System of New Jersey

Police & Firemen s Retirement System of New Jersey bought a new position in Reddit Inc. (NYSE:RDDT) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 17,704 shares of the company’s stock, valued at approximately $2,666,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Alliancebernstein L.P. lifted its position in Reddit by 103.0% in the 1st quarter. Alliancebernstein L.P. now owns 5,659,990 shares of the company’s stock valued at $593,733,000 after purchasing an additional 2,871,232 shares during the last quarter. Nordea Investment Management AB raised its holdings in shares of Reddit by 21,703.0% during the second quarter. Nordea Investment Management AB now owns 1,060,935 shares of the company’s stock valued at $164,021,000 after buying an additional 1,056,069 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Reddit by 11.1% during the first quarter. Vanguard Group Inc. now owns 10,198,552 shares of the company’s stock worth $1,069,828,000 after buying an additional 1,017,162 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Reddit by 98.2% during the first quarter. JPMorgan Chase & Co. now owns 1,907,495 shares of the company’s stock worth $200,096,000 after buying an additional 944,847 shares during the period. Finally, Scge Management L.P. grew its holdings in Reddit by 121.1% in the 1st quarter. Scge Management L.P. now owns 1,612,000 shares of the company’s stock worth $169,099,000 after buying an additional 883,000 shares in the last quarter.

Reddit Trading Down 1.1%

Shares of Reddit stock opened at $185.42 on Wednesday. Reddit Inc. has a 52 week low of $79.75 and a 52 week high of $282.95. The stock has a market cap of $35.14 billion, a PE ratio of 106.56, a price-to-earnings-growth ratio of 2.07 and a beta of 2.14. The company’s 50-day moving average price is $216.35 and its two-hundred day moving average price is $178.49.

Reddit (NYSE:RDDT) last posted its quarterly earnings data 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 company had revenue of $584.91 million during the quarter, compared to analyst estimates of $546.65 million. Reddit had a net margin of 18.33% and a return on equity of 14.94%. The business’s revenue for the quarter was up 67.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.16 EPS. Reddit has set its Q4 2025 guidance at EPS. On average, equities analysts predict that Reddit Inc. will post 1.12 EPS for the current fiscal year.

Insider Activity

In other news, COO Jennifer L. Wong sold 30,659 shares of the company’s stock in a transaction on Thursday, October 23rd. The stock was sold at an average price of $201.82, for a total transaction of $6,187,599.38. Following the completion of the sale, the chief operating officer directly owned 1,295,968 shares of the company’s stock, valued at $261,552,261.76. This represents a 2.31% decrease in their ownership of the stock. The sale 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 stock in a transaction on Friday, November 14th. The shares were sold at an average price of $194.81, for a total value of $3,506,580.00. Following the completion of the transaction, the chief executive officer owned 485,958 shares of the company’s stock, valued at $94,669,477.98. This trade represents a 3.57% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 405,747 shares of company stock worth $89,475,077. Insiders own 34.25% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on RDDT. Robert W. Baird lifted their target price on Reddit from $177.00 to $240.00 and gave the company a “neutral” rating in a research note on Thursday, September 25th. JMP Securities restated a “market outperform” rating and set a $300.00 price objective on shares of Reddit in a research note on Friday, October 3rd. Zacks Research raised shares of Reddit from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 29th. Needham & Company LLC reissued a “buy” rating and set a $300.00 target price on shares of Reddit in a research note on Friday, October 31st. Finally, The Goldman Sachs Group restated a “neutral” rating and set a $236.00 price target on shares of Reddit in a research report on Tuesday, October 14th. Three 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, the stock presently has an average rating of “Moderate Buy” and an average target price of $226.33.

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.