Reddit Inc. $RDDT Shares Purchased by Jupiter Asset Management Ltd.

Jupiter Asset Management Ltd. increased its position in shares of Reddit Inc. (NYSE:RDDT) by 9.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 114,572 shares of the company’s stock after purchasing an additional 10,016 shares during the quarter. Jupiter Asset Management Ltd. owned approximately 0.06% of Reddit worth $17,251,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently bought and sold shares of the business. Xponance Inc. purchased a new stake in shares of Reddit in the 1st quarter valued at approximately $341,000. Arizona State Retirement System grew its stake in Reddit by 16.9% during the 1st quarter. Arizona State Retirement System now owns 19,044 shares of the company’s stock worth $1,998,000 after purchasing an additional 2,752 shares in the last quarter. CWM LLC increased its stake in shares of Reddit by 100.0% during the first quarter. CWM LLC now owns 256 shares of the company’s stock worth $27,000 after buying an additional 128 shares during the period. Signaturefd LLC raised its holdings in shares of Reddit by 3.5% in the 1st quarter. Signaturefd LLC now owns 2,859 shares of the company’s stock valued at $300,000 after purchasing an additional 97 shares in the last quarter. Finally, Sigma Planning Corp boosted its position in shares of Reddit by 67.1% during the 1st quarter. Sigma Planning Corp now owns 16,799 shares of the company’s stock worth $1,762,000 after acquiring an additional 6,747 shares in the last quarter.

Reddit Stock Down 2.7%

RDDT opened at $202.65 on Thursday. Reddit Inc. has a 12-month low of $79.75 and a 12-month high of $282.95. The firm has a market capitalization of $38.40 billion, a P/E ratio of 116.46, a PEG ratio of 2.29 and a beta of 2.14. The stock has a fifty day moving average of $220.10 and a 200-day moving average of $176.09.

Reddit (NYSE:RDDT) last posted its earnings results 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 firm had revenue of $585.00 million during the quarter, compared to analyst estimates of $546.65 million. During the same period in the previous year, the company earned $0.16 EPS. The company’s revenue for the quarter was up 67.9% on a year-over-year basis. Reddit has set its Q4 2025 guidance at EPS. On average, analysts expect that Reddit Inc. will post 1.12 earnings per share for the current fiscal year.

Insider Activity at Reddit

In other news, CTO Christopher Brian Slowe sold 28,000 shares of the stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $218.94, for a total transaction of $6,130,320.00. Following the completion of the sale, the chief technology officer owned 222,534 shares of the company’s stock, valued at $48,721,593.96. This represents a 11.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Jennifer L. Wong sold 40,967 shares of Reddit stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $220.38, for a total transaction of $9,028,307.46. Following the completion of the sale, the chief operating officer owned 120,033 shares in the company, valued at $26,452,872.54. The trade was a 25.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 434,126 shares of company stock valued at $97,231,634 over the last ninety days. Company insiders own 34.25% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Weiss Ratings reiterated a “hold (c-)” rating on shares of Reddit in a research note on Wednesday, October 8th. Truist Financial set a $270.00 target price on Reddit in a report on Friday, October 31st. Morgan Stanley reaffirmed an “overweight” rating and set a $250.00 price objective on shares of Reddit in a report on Friday, October 31st. Oppenheimer increased their price target on shares of Reddit from $215.00 to $300.00 and gave the company an “outperform” rating in a research report on Tuesday, September 16th. Finally, Guggenheim upped their price objective on shares of Reddit from $165.00 to $215.00 and gave the company a “buy” rating in a research note on Friday, August 1st. Three equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $226.33.

Reddit 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.