Cim LLC Makes New $795,000 Investment in Reddit Inc. $RDDT

Key Points

• Cim LLC has made a new investment in Reddit Inc. by acquiring 7,583 shares valued at approximately $795,000.
• Reddit's stock price is currently at $260.40, with a market cap of $48.74 billion and a significant revenue growth of 77.9% in the latest quarter.
• Several large investors, including Vanguard and JPMorgan Chase, have increased their holdings in Reddit, demonstrating a strong interest from institutional investors.

Cim LLC acquired a new position in Reddit Inc. (NYSE:RDDT - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 7,583 shares of the company's stock, valued at approximately $795,000.

Several other large investors have also recently bought and sold shares of the business. Vanguard Group Inc. raised its position in Reddit by 11.1% in 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. increased its position in shares of Reddit by 103.0% in the first quarter. Alliancebernstein L.P. now owns 5,659,990 shares of the company's stock valued at $593,733,000 after buying an additional 2,871,232 shares in the last quarter. T. Rowe Price Investment Management Inc. increased its position in shares of Reddit by 10.6% in the first quarter. T. Rowe Price Investment Management Inc. now owns 4,073,939 shares of the company's stock valued at $427,357,000 after buying an additional 389,761 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Reddit by 98.2% in the first 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. Finally, Scge Management L.P. increased its position in shares of Reddit by 121.1% in the first quarter. Scge Management L.P. now owns 1,612,000 shares of the company's stock valued at $169,099,000 after buying an additional 883,000 shares in the last quarter.

Reddit Stock Up 0.5%

RDDT opened at $260.40 on Friday. The firm has a market cap of $48.74 billion, a P/E ratio of 236.73, a PEG ratio of 4.11 and a beta of 2.40. Reddit Inc. has a 52 week low of $57.22 and a 52 week high of $266.64. The business's fifty day simple moving average is $194.36 and its 200 day simple moving average is $145.16.

Reddit (NYSE:RDDT - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The company reported $0.45 EPS for the quarter, beating 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 business had revenue of $499.63 million for the quarter, compared to analyst estimates of $424.07 million. During the same quarter last year, the company earned ($0.06) earnings per share. The business'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, equities analysts expect that Reddit Inc. will post 1.12 EPS for the current fiscal year.

Insider Transactions at Reddit

In other Reddit news, COO Jennifer L. Wong sold 30,806 shares of the firm's stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $218.55, for a total value of $6,732,651.30. Following the sale, the chief operating officer directly owned 1,326,709 shares of the company's stock, valued at approximately $289,952,251.95. This trade represents a 2.27% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Benjamin Seong Lee sold 6,426 shares of the firm's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $220.28, for a total value of $1,415,519.28. Following the completion of the sale, the insider directly owned 83,445 shares in the company, valued at approximately $18,381,264.60. The trade was a 7.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 500,777 shares of company stock worth $88,572,016 in the last quarter. 34.25% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on RDDT. 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 research report on Tuesday, July 1st. Piper Sandler raised their price target on Reddit from $150.00 to $210.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Roth Capital raised their price target on Reddit from $130.00 to $145.00 and gave the company a "neutral" rating in a research report on Monday, July 21st. Sanford C. Bernstein raised their price target on Reddit from $130.00 to $150.00 and gave the company a "market perform" rating in a research report on Tuesday, July 22nd. Finally, Citigroup raised their price target on Reddit from $158.00 to $163.00 and gave the company a "buy" rating in a research report on Tuesday, June 24th. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $180.58.

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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