36,195 Shares in Reddit Inc. $RDDT Bought by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio acquired a new position in Reddit Inc. (NYSE:RDDT - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 36,195 shares of the company's stock, valued at approximately $5,450,000.

A number of other hedge funds have also recently added to or reduced their stakes in RDDT. Mackenzie Financial Corp acquired a new position in Reddit in the fourth quarter worth $316,000. Wealth Enhancement Advisory Services LLC acquired a new position in Reddit in the fourth quarter worth $2,208,000. Central Pacific Bank Trust Division acquired a new position in Reddit in the first quarter worth $93,000. AdvisorNet Financial Inc boosted its holdings in shares of Reddit by 94.0% during the first quarter. AdvisorNet Financial Inc now owns 1,321 shares of the company's stock valued at $139,000 after acquiring an additional 640 shares during the period. Finally, Rhumbline Advisers boosted its holdings in shares of Reddit by 202.7% during the first quarter. Rhumbline Advisers now owns 13,682 shares of the company's stock valued at $1,435,000 after acquiring an additional 9,162 shares during the period.

Insider Activity

In other Reddit news, CAO Michelle Marie Reynolds sold 3,214 shares of the business's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $217.69, for a total transaction of $699,655.66. Following the sale, the chief accounting officer owned 28,088 shares in the company, valued at approximately $6,114,476.72. The trade was a 10.27% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Andrew Vollero sold 30,000 shares of Reddit stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $218.09, for a total value of $6,542,700.00. Following the transaction, 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 disclosure for this sale can be found here. In the last quarter, insiders have sold 379,834 shares of company stock worth $82,388,799. 34.25% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on RDDT shares. Bank of America boosted their price target on shares of Reddit from $130.00 to $150.00 and gave the company a "neutral" rating in a report on Wednesday, July 30th. The Goldman Sachs Group reissued a "neutral" rating and set a $212.00 price target on shares of Reddit in a report on Friday, August 1st. Sanford C. Bernstein boosted their price target on shares of Reddit from $130.00 to $150.00 and gave the company a "market perform" rating in a report on Tuesday, July 22nd. Citigroup reissued an "outperform" rating on shares of Reddit in a report on Thursday, September 18th. Finally, Argus started coverage on shares of Reddit in a report on Monday, August 18th. They set a "buy" rating and a $250.00 price target for the company. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $201.58.

Reddit Trading Up 0.8%

NYSE RDDT opened at $241.98 on Tuesday. The stock's 50-day moving average price is $219.74 and its two-hundred day moving average price is $154.18. The company has a market cap of $45.29 billion, a PE ratio of 219.98, a PEG ratio of 3.78 and a beta of 2.38. Reddit Inc. has a 1 year low of $64.51 and a 1 year high of $282.95.

Reddit (NYSE:RDDT - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.25. The firm had revenue of $499.63 million for the quarter, compared to the consensus estimate of $424.07 million. Reddit had a return on equity of 9.93% and a net margin of 12.97%.The business's revenue for the quarter was up 77.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.06) EPS. Reddit has set its Q3 2025 guidance at EPS. Research analysts forecast 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.

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