Voya Investment Management LLC Sells 347,795 Shares of Reddit Inc. $RDDT

Voya Investment Management LLC lowered its stake in shares of Reddit Inc. (NYSE:RDDT) by 36.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 619,298 shares of the company’s stock after selling 347,795 shares during the quarter. Voya Investment Management LLC’s holdings in Reddit were worth $64,900,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in RDDT. CWM LLC lifted its position in Reddit by 100.0% during the 1st quarter. CWM LLC now owns 256 shares of the company’s stock valued at $27,000 after purchasing an additional 128 shares during the period. Stone House Investment Management LLC acquired a new position in Reddit during the 1st quarter valued at about $31,000. Geneos Wealth Management Inc. lifted its position in Reddit by 344.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 369 shares of the company’s stock valued at $39,000 after purchasing an additional 286 shares during the period. Canton Hathaway LLC acquired a new position in Reddit during the 1st quarter valued at about $43,000. Finally, Olde Wealth Management LLC acquired a new position in Reddit during the 1st quarter valued at about $46,000.

Reddit Price Performance

Reddit stock opened at $254.44 on Friday. The company’s 50 day simple moving average is $196.30 and its 200 day simple moving average is $145.81. Reddit Inc. has a fifty-two week low of $57.22 and a fifty-two week high of $266.64. The firm has a market capitalization of $47.62 billion, a price-to-earnings ratio of 231.31, a PEG ratio of 4.13 and a beta of 2.40.

Reddit (NYSE:RDDT) last released its quarterly earnings data on Thursday, July 31st. The company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.25. Reddit had a net margin of 12.97% and a return on equity of 9.93%. The business had revenue of $499.63 million for the quarter, compared to analyst estimates of $424.07 million. During the same quarter last year, the firm earned ($0.06) EPS. Reddit’s quarterly revenue was up 77.9% compared to the same quarter last year. Reddit has set its Q3 2025 guidance at EPS. As a group, analysts predict that Reddit Inc. will post 1.12 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. JMP Securities upped their target price on shares of Reddit from $180.00 to $225.00 and gave the company a “market outperform” rating in a research report on Friday, August 1st. Piper Sandler upped their target price on shares of Reddit from $150.00 to $210.00 and gave the company an “overweight” rating in a research report on Friday, August 1st. Guggenheim upped their target price on shares of Reddit from $165.00 to $215.00 and gave the company a “buy” rating in a research report on Friday, August 1st. Wolfe Research upgraded shares of Reddit to an “outperform” rating in a research report on Sunday, August 3rd. Finally, Jefferies Financial Group increased their price target on shares of Reddit from $230.00 to $300.00 and gave the company a “buy” rating in a research report on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Reddit has an average rating of “Moderate Buy” and an average price target of $180.58.

Insider Activity

In other Reddit news, CFO Andrew Vollero sold 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $218.09, for a total transaction of $6,542,700.00. Following the sale, the chief financial officer directly owned 284,168 shares in the company, valued at approximately $61,974,199.12. This trade represents a 9.55% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Jennifer L. Wong sold 30,806 shares of the firm’s stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $218.55, for a total transaction of $6,732,651.30. Following the sale, the chief operating officer owned 1,326,709 shares in the company, valued at $289,952,251.95. This trade represents a 2.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 500,777 shares of company stock worth $88,572,016. Corporate insiders own 34.25% of the company’s stock.

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.