Skandinaviska Enskilda Banken AB publ Acquires 4,600 Shares of Reddit Inc. $RDDT

Skandinaviska Enskilda Banken AB publ boosted its stake in shares of Reddit Inc. (NYSE:RDDT) by 48.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,100 shares of the company’s stock after acquiring an additional 4,600 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Reddit were worth $2,123,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Alliancebernstein L.P. lifted its stake in shares of 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. Norges Bank purchased a new stake in Reddit during the 2nd quarter valued at $294,254,000. Nordea Investment Management AB raised its holdings in Reddit by 21,703.0% during the 2nd 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 period. Vanguard Group Inc. lifted its position in Reddit by 11.1% in 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 last quarter. Finally, JPMorgan Chase & Co. boosted its stake in 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.

Insider Activity

In other news, CTO Christopher Brian Slowe sold 24,000 shares of the firm’s stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $192.72, for a total value of $4,625,280.00. Following the completion of the transaction, the chief technology officer directly owned 175,694 shares in the company, valued at $33,859,747.68. This trade represents a 12.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Jennifer L. Wong sold 63,427 shares of the firm’s stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of $192.72, for a total transaction of $12,223,651.44. Following the transaction, the chief operating officer directly owned 1,184,528 shares of the company’s stock, valued at $228,282,236.16. This represents a 5.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 376,370 shares of company stock worth $79,284,304 over the last 90 days. 34.25% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on RDDT. Sanford C. Bernstein increased their target price on shares of Reddit from $190.00 to $210.00 and gave the company a “market perform” rating in a research note on Friday, October 31st. Oppenheimer upped their price target on shares of Reddit from $215.00 to $300.00 and gave the company an “outperform” rating in a report on Tuesday, September 16th. Roth Capital set a $210.00 price objective on shares of Reddit in a research note on Friday, October 31st. Wells Fargo & Company boosted their target price on Reddit from $155.00 to $174.00 and gave the company a “cautious” rating in a research report on Tuesday, October 7th. Finally, Jefferies Financial Group upped their target price on Reddit from $230.00 to $300.00 and gave the company a “buy” rating in a research note on Wednesday, September 10th. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, Reddit currently has a consensus rating of “Moderate Buy” and a consensus target price of $226.33.

Reddit Stock Up 3.2%

Shares of RDDT stock opened at $223.37 on Tuesday. The firm has a market cap of $42.33 billion, a price-to-earnings ratio of 128.37, a PEG ratio of 2.38 and a beta of 2.17. Reddit Inc. has a 52-week low of $79.75 and a 52-week high of $282.95. The company’s 50 day moving average is $205.51 and its 200 day moving average is $184.22.

Reddit (NYSE:RDDT) last posted its earnings results on Thursday, October 30th. The company reported $0.80 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analyst estimates of $546.65 million. During the same quarter in the previous year, the firm earned $0.16 earnings per share. The firm’s quarterly revenue was up 67.9% compared to the same quarter last year. Reddit has set its Q4 2025 guidance at EPS. Analysts anticipate that Reddit Inc. will post 1.12 EPS for the current fiscal year.

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.