Resona Asset Management Co. Ltd. Invests $2.12 Million in Reddit Inc. $RDDT

Key Points

• Resona Asset Management Co. Ltd. acquired 20,136 shares of Reddit Inc. (NYSE:RDDT), valued at approximately $2.12 million, during the 1st quarter of the year.
• CEO Steve Ladd Huffman sold 124,409 shares of Reddit stock for about $15.48 million, reducing his ownership by 18.55%.
• Reddit's stock opened at $246.40 and experienced a revenue growth of 77.9% year-over-year, reporting earnings per share (EPS) of $0.45.

Resona Asset Management Co. Ltd. acquired a new stake in Reddit Inc. (NYSE:RDDT - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 20,136 shares of the company's stock, valued at approximately $2,119,000.

Several other large investors also recently made changes to their positions in the stock. Signaturefd LLC boosted 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 buying an additional 97 shares during the last quarter. CWM LLC boosted its holdings in shares of Reddit by 100.0% in the 1st quarter. CWM LLC now owns 256 shares of the company's stock valued at $27,000 after buying an additional 128 shares during the last quarter. Morling Financial Advisors LLC boosted its holdings in shares of Reddit by 3.8% in the 1st quarter. Morling Financial Advisors LLC now owns 5,487 shares of the company's stock valued at $576,000 after buying an additional 202 shares during the last quarter. Wedbush Securities Inc. boosted its holdings in shares of Reddit by 10.3% in the 1st quarter. Wedbush Securities Inc. now owns 2,487 shares of the company's stock valued at $261,000 after buying an additional 233 shares during the last quarter. Finally, Fourth Dimension Wealth LLC acquired a new stake in Reddit during the 4th quarter valued at $49,000.

Insider Transactions at Reddit

In other Reddit news, CTO Christopher Brian Slowe sold 16,000 shares of Reddit stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $145.58, for a total value of $2,329,280.00. Following the transaction, the chief technology officer owned 241,373 shares in the company, valued at $35,139,081.34. The trade was a 6.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Jennifer L. Wong sold 32,379 shares of Reddit stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $242.05, for a total value of $7,837,336.95. Following the completion of the transaction, the chief operating officer owned 1,395,628 shares in the company, valued at approximately $337,811,757.40. This represents a 2.27% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 363,364 shares of company stock worth $53,557,742 over the last ninety days. Corporate insiders own 34.25% of the company's stock.

Reddit Stock Up 0.5%

Shares of RDDT traded up $1.0780 during midday trading on Thursday, reaching $219.4480. 3,099,319 shares of the stock were exchanged, compared to its average volume of 7,903,103. Reddit Inc. has a twelve month low of $55.02 and a twelve month high of $253.14. The company has a market cap of $41.07 billion, a P/E ratio of 198.92, a PEG ratio of 3.62 and a beta of 2.30. The stock's 50 day simple moving average is $165.78 and its 200 day simple moving average is $142.05.

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

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Wells Fargo & Company raised their price target on Reddit from $115.00 to $118.00 and gave the company an "equal weight" rating in a report on Tuesday, July 1st. Royal Bank Of Canada set a $125.00 price target on Reddit and gave the company a "sector perform" rating in a report on Wednesday, June 25th. Bank of America raised their price target on Reddit from $130.00 to $150.00 and gave the company a "neutral" rating in a report on Wednesday, July 30th. Needham & Company LLC raised their price target on Reddit from $165.00 to $215.00 and gave the company a "buy" rating in a report on Friday, August 1st. Finally, JMP Securities raised their price target on Reddit from $180.00 to $225.00 and gave the company a "market outperform" rating in a report on Friday, August 1st. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $171.83.

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.