Caitong International Asset Management Co. Ltd Acquires 7,340 Shares of Reddit Inc. $RDDT

Key Points

• Caitong International Asset Management Co. Ltd significantly increased its stake in Reddit Inc. by acquiring an additional 7,340 shares, boosting its total shares to 11,738, which now represents 1.3% of its portfolio.
• Several large hedge funds, including Vanguard Group Inc. and JPMorgan Chase & Co., have also raised their stakes in Reddit, indicating growing institutional interest in the company.
• Wall Street analysts have issued mixed ratings on Reddit, with some upgrades leading to varying price targets, including Citigroup setting a target of $250.00 and Piper Sandler at $290.00, reflecting positive sentiment for the company's future performance.

Caitong International Asset Management Co. Ltd boosted its stake in shares of Reddit Inc. (NYSE:RDDT - Free Report) by 166.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,738 shares of the company's stock after acquiring an additional 7,340 shares during the quarter. Reddit accounts for 1.3% of Caitong International Asset Management Co. Ltd's portfolio, making the stock its 13th largest position. Caitong International Asset Management Co. Ltd's holdings in Reddit were worth $1,767,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Reddit by 11.1% during the first quarter. Vanguard Group Inc. now owns 10,198,552 shares of the company's stock worth $1,069,828,000 after acquiring an additional 1,017,162 shares in the last quarter. Alliancebernstein L.P. raised its stake in Reddit by 103.0% during the first quarter. Alliancebernstein L.P. now owns 5,659,990 shares of the company's stock worth $593,733,000 after acquiring an additional 2,871,232 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its stake in Reddit by 10.6% during the first quarter. T. Rowe Price Investment Management Inc. now owns 4,073,939 shares of the company's stock worth $427,357,000 after acquiring an additional 389,761 shares in the last quarter. JPMorgan Chase & Co. raised 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 acquiring an additional 944,847 shares in the last quarter. Finally, Scge Management L.P. raised its stake in Reddit by 121.1% during the first quarter. Scge Management L.P. now owns 1,612,000 shares of the company's stock worth $169,099,000 after acquiring an additional 883,000 shares in the last quarter.

Wall Street Analyst Weigh In

Several research analysts have issued reports on RDDT shares. Wolfe Research upgraded Reddit to an "outperform" rating in a research note on Sunday, August 3rd. Wells Fargo & Company increased their price objective on Reddit from $155.00 to $174.00 and gave the stock a "cautious" rating in a research note on Tuesday, October 7th. Citigroup lifted their price target on Reddit from $220.00 to $250.00 and gave the company a "buy" rating in a report on Tuesday. Piper Sandler reaffirmed an "overweight" rating and issued a $290.00 price target on shares of Reddit in a report on Friday, October 3rd. Finally, The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $236.00 price target on shares of Reddit in a report on Tuesday, October 14th. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Reddit has an average rating of "Moderate Buy" and an average target price of $217.50.

Insider Buying and Selling

In other news, CTO Christopher Brian Slowe sold 14,000 shares of the stock in a transaction on Wednesday, October 8th. The stock was sold at an average price of $200.81, for a total transaction of $2,811,340.00. Following the sale, the chief technology officer directly owned 206,534 shares of the company's stock, valued at approximately $41,474,092.54. This represents a 6.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Steve Ladd Huffman sold 18,000 shares of the stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $200.53, for a total value of $3,609,540.00. Following the sale, the chief executive officer directly owned 494,104 shares in the company, valued at approximately $99,082,675.12. This trade represents a 3.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 366,500 shares of company stock valued at $83,829,951. Company insiders own 34.25% of the company's stock.

Reddit Stock Performance

RDDT stock opened at $200.78 on Friday. The company's 50-day simple moving average is $226.05 and its 200 day simple moving average is $165.20. Reddit Inc. has a 52 week low of $77.14 and a 52 week high of $282.95. The company has a market capitalization of $37.58 billion, a PE ratio of 182.53, a price-to-earnings-growth ratio of 3.01 and a beta of 2.23.

Reddit (NYSE:RDDT - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The company reported $0.45 EPS for the quarter, beating 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 the consensus estimate of $424.07 million. During the same period in the prior year, the company posted ($0.06) earnings per share. Reddit's revenue was up 77.9% compared to the same quarter last year. Reddit has set its Q3 2025 guidance at EPS. On average, analysts forecast that Reddit Inc. will post 1.12 EPS for the current year.

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.

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