126,674 Shares in Reddit Inc. $RDDT Bought by Anson Funds Management LP

Key Points

• Anson Funds Management LP has acquired 126,674 shares of Reddit Inc. valued at approximately $13.3 million, making it 15th in its portfolio and representing about 2.0% of its total holdings.
• Reddit's shares increased by 7.8%, reaching an opening price of $259.04, while the company reported a 77.9% revenue growth year-over-year with earnings per share beating estimates at $0.45.
• Analysts have set new price targets for Reddit Inc., with Argus providing a "buy" rating and a target of $250.00, as various analysts reassess their ratings amidst positive performance trends.

Anson Funds Management LP purchased a new position in shares of Reddit Inc. (NYSE:RDDT - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 126,674 shares of the company's stock, valued at approximately $13,288,000. Reddit accounts for about 2.0% of Anson Funds Management LP's holdings, making the stock its 15th largest position. Anson Funds Management LP owned about 0.07% of Reddit at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Jump Financial LLC increased its stake in Reddit by 210.7% during the 1st quarter. Jump Financial LLC now owns 314,053 shares of the company's stock worth $32,944,000 after buying an additional 212,980 shares during the period. Northwestern Mutual Wealth Management Co. increased its stake in Reddit by 12.5% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 1,323 shares of the company's stock worth $139,000 after buying an additional 147 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp purchased a new stake in Reddit during the 1st quarter worth $1,325,000. Elwood Capital Partners LP increased its stake in Reddit by 40.0% during the 1st quarter. Elwood Capital Partners LP now owns 35,000 shares of the company's stock worth $3,672,000 after buying an additional 10,000 shares during the period. Finally, Allstate Corp purchased a new stake in Reddit during the 1st quarter worth $311,000.

Reddit Stock Up 7.8%

Shares of NYSE:RDDT opened at $259.04 on Thursday. Reddit Inc. has a fifty-two week low of $55.84 and a fifty-two week high of $261.13. The firm has a 50-day simple moving average of $192.30 and a 200 day simple moving average of $144.50. The company has a market cap of $48.48 billion, a PE ratio of 235.49, a P/E/G ratio of 3.81 and a beta of 2.40.

Reddit (NYSE:RDDT - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The company reported $0.45 earnings per share for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $424.07 million. During the same quarter in the prior year, the firm earned ($0.06) EPS. The company's revenue for the quarter was up 77.9% compared to the same quarter last year. Reddit has set its Q3 2025 guidance at EPS. As a group, research analysts forecast that Reddit Inc. will post 1.12 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently issued reports on RDDT. Argus assumed coverage on shares of Reddit in a research note on Monday, August 18th. They set a "buy" rating and a $250.00 price target on the stock. Wolfe Research raised shares of Reddit to an "outperform" rating in a research report on Sunday, August 3rd. Raymond James Financial reissued a "strong-buy" rating and issued a $225.00 target price (up previously from $175.00) on shares of Reddit in a research report on Friday, August 1st. Wall Street Zen raised shares of Reddit from a "hold" rating to a "buy" rating in a research report on Sunday. Finally, Loop Capital dropped their target price on shares of Reddit from $210.00 to $200.00 and set a "buy" rating for the company in a research report on Thursday, June 12th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Reddit has an average rating of "Moderate Buy" and an average target price of $180.58.

Insider Buying and Selling at Reddit

In other Reddit news, insider Benjamin Seong Lee sold 6,426 shares of the business's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $220.28, for a total transaction of $1,415,519.28. Following the completion of the transaction, the insider directly owned 83,445 shares of the company's stock, valued at $18,381,264.60. The trade was a 7.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Andrew Vollero sold 30,000 shares of the business's stock in a transaction dated 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 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 ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 530,777 shares of company stock worth $92,101,216. 34.25% of the stock is owned by company insiders.

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.

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