167,100 Shares in Reddit Inc. $RDDT Bought by Canada Pension Plan Investment Board

Key Points

• The Canada Pension Plan Investment Board has acquired 167,100 shares of Reddit Inc., valued at approximately $17.5 million, representing a 0.09% ownership in the company.
• Reddit reported a 77.9% increase in quarterly revenue year-over-year, with an EPS of $0.45 that exceeded analysts' expectations of $0.20.
• Following recent insider transactions, including significant stock sales by CEO Steve Ladd Huffman, insiders now own 34.25% of Reddit's stock.

Canada Pension Plan Investment Board purchased a new stake in shares of Reddit Inc. (NYSE:RDDT - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 167,100 shares of the company's stock, valued at approximately $17,529,000. Canada Pension Plan Investment Board owned 0.09% of Reddit as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. JPMorgan Chase & Co. lifted its position in shares of Reddit by 98.2% during the 1st quarter. JPMorgan Chase & Co. now owns 1,907,495 shares of the company's stock valued at $200,096,000 after buying an additional 944,847 shares in the last quarter. Greycroft LP lifted its position in shares of Reddit by 109.1% during the 1st quarter. Greycroft LP now owns 11,500 shares of the company's stock valued at $1,206,000 after buying an additional 6,000 shares in the last quarter. Ogborne Capital Management LLC purchased a new position in shares of Reddit during the 4th quarter valued at about $11,539,000. Voloridge Investment Management LLC lifted its holdings in Reddit by 46.3% in the 4th quarter. Voloridge Investment Management LLC now owns 963,516 shares of the company's stock worth $157,477,000 after purchasing an additional 304,773 shares in the last quarter. Finally, Renaissance Capital LLC lifted its holdings in Reddit by 10.9% in the 1st quarter. Renaissance Capital LLC now owns 34,636 shares of the company's stock worth $3,633,000 after purchasing an additional 3,400 shares in the last quarter.

Reddit Trading Up 3.5%

Shares of NYSE RDDT traded up $8.08 during trading hours on Friday, hitting $240.19. 5,551,228 shares of the company traded hands, compared to its average volume of 5,904,451. The stock has a market capitalization of $44.95 billion, a price-to-earnings ratio of 218.35, a price-to-earnings-growth ratio of 3.68 and a beta of 2.40. The company's 50 day moving average price is $186.96 and its 200 day moving average price is $143.13. Reddit Inc. has a 12 month low of $55.25 and a 12 month high of $253.14.

Reddit (NYSE:RDDT - Get Free Report) last released its earnings results on Thursday, July 31st. The company reported $0.45 earnings per share for the quarter, beating 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 company'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 posted ($0.06) EPS. Reddit has set its Q3 2025 guidance at EPS. Equities analysts anticipate that Reddit Inc. will post 1.12 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently commented on RDDT shares. JPMorgan Chase & Co. boosted their price target on Reddit from $145.00 to $190.00 and gave the stock a "neutral" rating in a report on Friday, August 1st. Sanford C. Bernstein boosted their price target on Reddit from $130.00 to $150.00 and gave the stock a "market perform" rating in a report on Tuesday, July 22nd. Piper Sandler boosted their price target on Reddit from $150.00 to $210.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Robert W. Baird upped their price objective on Reddit from $120.00 to $151.00 and gave the stock a "neutral" rating in a report on Tuesday, July 8th. Finally, Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $210.00 price objective on shares of Reddit in a report on Friday, August 22nd. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $175.38.

Insiders Place Their Bets

In other news, CTO Christopher Brian Slowe sold 28,000 shares of the stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $218.94, for a total transaction of $6,130,320.00. Following the transaction, the chief technology officer owned 222,534 shares of the company's stock, valued at approximately $48,721,593.96. This represents a 11.18% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Andrew Vollero sold 30,000 shares of the stock in a transaction on Friday, June 13th. The stock was sold at an average price of $117.64, for a total value of $3,529,200.00. Following the transaction, the chief financial officer directly owned 333,806 shares in the company, valued at $39,268,937.84. The trade was a 8.25% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 516,777 shares of company stock worth $88,790,076. 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.