Glaxis Capital Management LLC Acquires New Position in Reddit Inc. $RDDT

Glaxis Capital Management LLC bought a new position in shares of Reddit Inc. (NYSE:RDDT) during the 2nd quarter, HoldingsChannel reports. The fund bought 4,000 shares of the company’s stock, valued at approximately $602,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Xponance Inc. purchased a new stake in Reddit in the 1st quarter valued at $341,000. Arizona State Retirement System grew its holdings in shares of Reddit by 16.9% in the first quarter. Arizona State Retirement System now owns 19,044 shares of the company’s stock valued at $1,998,000 after purchasing an additional 2,752 shares during the period. CWM LLC increased its position in Reddit by 100.0% during the first quarter. CWM LLC now owns 256 shares of the company’s stock worth $27,000 after purchasing an additional 128 shares during the last quarter. Signaturefd LLC increased its position in Reddit by 3.5% during the first quarter. Signaturefd LLC now owns 2,859 shares of the company’s stock worth $300,000 after purchasing an additional 97 shares during the last quarter. Finally, Apollon Wealth Management LLC boosted its holdings in Reddit by 9.2% in the 1st quarter. Apollon Wealth Management LLC now owns 3,785 shares of the company’s stock valued at $397,000 after purchasing an additional 320 shares during the last quarter.

Reddit Trading Up 2.0%

RDDT stock opened at $193.24 on Friday. The business’s fifty day moving average price is $218.30 and its 200 day moving average price is $176.69. Reddit Inc. has a 12-month low of $79.75 and a 12-month high of $282.95. The company has a market capitalization of $36.62 billion, a PE ratio of 111.06, a P/E/G ratio of 2.09 and a beta of 2.14.

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 company had revenue of $584.91 million during the quarter, compared to the consensus estimate of $546.65 million. Reddit had a return on equity of 14.94% and a net margin of 18.33%.Reddit’s revenue was up 67.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.16 EPS. Reddit has set its Q4 2025 guidance at EPS. Research analysts predict that Reddit Inc. will post 1.12 EPS for the current fiscal year.

Insider Buying and Selling at Reddit

In related news, CFO Andrew Vollero sold 30,000 shares of the business’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $218.09, for a total transaction of $6,542,700.00. Following the completion of the transaction, the chief financial officer directly owned 284,168 shares of the company’s stock, valued at $61,974,199.12. The trade was a 9.55% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO Christopher Brian Slowe sold 28,000 shares of the stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $218.94, for a total value of $6,130,320.00. Following the completion of the sale, the chief technology officer directly owned 222,534 shares in the company, valued at $48,721,593.96. This represents a 11.18% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 420,126 shares of company stock worth $93,805,834. 34.25% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

RDDT has been the topic of several analyst reports. Roth Capital set a $210.00 price target on shares of Reddit in a research report on Friday, October 31st. The Goldman Sachs Group restated a “neutral” rating and issued a $236.00 target price on shares of Reddit in a research report on Tuesday, October 14th. B. Riley reiterated a “buy” rating and set a $245.00 price target (up from $235.00) on shares of Reddit in a report on Friday, October 31st. Morgan Stanley reissued an “overweight” rating and set a $250.00 price objective on shares of Reddit in a research report on Friday, October 31st. Finally, Cannonball Research reaffirmed a “buy” rating on shares of Reddit in a research report on Tuesday, September 23rd. Three research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $226.33.

Reddit Company Profile

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.