80,000 Shares in Reddit Inc. $RDDT Bought by Erste Asset Management GmbH

Key Points

• Erste Asset Management GmbH invested approximately $8.62 million in 80,000 shares of Reddit Inc. during the first quarter, as revealed by a recent 13F filing with the SEC.
• Several hedge funds, including Vanguard Group Inc. and JPMorgan Chase & Co., have significantly increased their stakes in Reddit in recent quarters, indicating strong institutional interest.
• Reddit's stock has received a mix of ratings from analysts, with a consensus average rating of "Moderate Buy" and a target price of $171.83, reflecting positive outlooks from various investment firms.

Erste Asset Management GmbH purchased a new stake in Reddit Inc. (NYSE:RDDT - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 80,000 shares of the company's stock, valued at approximately $8,617,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of Reddit by 11.1% in the first quarter. Vanguard Group Inc. now owns 10,198,552 shares of the company's stock valued at $1,069,828,000 after buying an additional 1,017,162 shares in the last quarter. JPMorgan Chase & Co. raised its position in Reddit by 98.2% during the first quarter. JPMorgan Chase & Co. now owns 1,907,495 shares of the company's stock valued at $200,096,000 after purchasing an additional 944,847 shares in the last quarter. Lord Abbett & CO. LLC raised its position in Reddit by 12.8% during the fourth quarter. Lord Abbett & CO. LLC now owns 1,861,998 shares of the company's stock valued at $304,325,000 after purchasing an additional 211,636 shares in the last quarter. Cresset Asset Management LLC raised its position in Reddit by 159.6% during the fourth quarter. Cresset Asset Management LLC now owns 1,308,797 shares of the company's stock valued at $213,910,000 after purchasing an additional 804,591 shares in the last quarter. Finally, Whale Rock Capital Management LLC acquired a new position in Reddit during the fourth quarter valued at approximately $204,054,000.

Reddit Stock Down 0.6%

Shares of NYSE:RDDT traded down $1.3650 during trading on Friday, hitting $217.2850. 7,623,279 shares of the company were exchanged, compared to its average volume of 8,839,909. The business's 50 day moving average is $169.82 and its 200-day moving average is $141.63. The company has a market capitalization of $40.67 billion, a P/E ratio of 197.53, a price-to-earnings-growth ratio of 3.45 and a beta of 2.30. Reddit Inc. has a 1-year low of $55.02 and a 1-year high of $253.14.

Reddit (NYSE:RDDT - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The company reported $0.45 earnings per share for the quarter, topping 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 company had revenue of $499.63 million for the quarter, compared to analysts' expectations of $424.07 million. During the same quarter in the previous year, the firm posted ($0.06) earnings per share. Reddit's revenue for the quarter was up 77.9% on a year-over-year basis. Reddit has set its Q3 2025 guidance at EPS. As a group, sell-side analysts anticipate that Reddit Inc. will post 1.12 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Steve Ladd Huffman sold 14,000 shares of the business's stock in a transaction on Friday, August 15th. The shares were sold at an average price of $244.70, for a total value of $3,425,800.00. Following the sale, the chief executive officer owned 531,485 shares of the company's stock, valued at $130,054,379.50. The trade was a 2.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Jennifer L. Wong sold 32,379 shares of the business's stock in a transaction on Monday, August 18th. The stock was sold at an average price of $242.05, for a total transaction of $7,837,336.95. Following the completion of the sale, the chief operating officer directly 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 have sold a total of 411,004 shares of company stock valued at $64,005,737 over the last quarter. 34.25% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have commented on RDDT. Raymond James Financial restated a "strong-buy" rating and set a $225.00 price objective (up from $175.00) on shares of Reddit in a research report on Friday, August 1st. Morgan Stanley boosted their price objective on shares of Reddit from $170.00 to $230.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Wall Street Zen upgraded shares of Reddit from a "hold" rating to a "buy" rating in a research report on Saturday, June 14th. JPMorgan Chase & Co. boosted their price objective on shares of Reddit from $145.00 to $190.00 and gave the company a "neutral" rating in a research report on Friday, August 1st. Finally, Piper Sandler boosted their price objective on shares of Reddit from $150.00 to $210.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $175.38.

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.