First Hawaiian Bank Buys Shares of 7,795 Reddit Inc. $RDDT

Key Points

• First Hawaiian Bank acquired 7,795 shares of Reddit Inc. (NASDAQ: $RDDT), valued at approximately $818,000, as disclosed in its latest SEC filing.
• Reddit's CEO, Steve Ladd Huffman, sold 18,000 shares at $223.41 each, resulting in a decrease of 3.51% in their ownership of the stock.
• Despite a recent share price drop of 2.3%, Reddit showed impressive growth with a year-over-year revenue increase of 77.9% and reported a quarterly EPS of $0.45, exceeding analysts' expectations.

First Hawaiian Bank 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 disclosure with the Securities & Exchange Commission. The fund purchased 7,795 shares of the company's stock, valued at approximately $818,000.

Several other institutional investors and hedge funds have also recently modified their holdings of RDDT. Petrus Trust Company LTA purchased a new position in Reddit in the first quarter worth $473,000. JPMorgan Chase & Co. boosted its holdings in 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 purchasing an additional 944,847 shares during the last quarter. Greycroft LP boosted its holdings in Reddit by 109.1% in the first quarter. Greycroft LP now owns 11,500 shares of the company's stock valued at $1,206,000 after purchasing an additional 6,000 shares during the last quarter. Think Investments LP boosted its holdings in Reddit by 10.3% in the first quarter. Think Investments LP now owns 268,000 shares of the company's stock valued at $28,113,000 after purchasing an additional 25,000 shares during the last quarter. Finally, Sender Co & Partners Inc. purchased a new stake in Reddit in the first quarter valued at $1,367,000.

Insider Activity at Reddit

In other Reddit news, CEO Steve Ladd Huffman sold 18,000 shares of the firm's stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $223.41, for a total value of $4,021,380.00. Following the completion of the transaction, the chief executive officer owned 494,104 shares of the company's stock, valued at $110,387,774.64. This trade represents a 3.51% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Andrew Vollero sold 30,000 shares of the firm's stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $218.09, for a total transaction of $6,542,700.00. Following the completion of the sale, the chief financial officer owned 284,168 shares in the company, valued at $61,974,199.12. The trade was a 9.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 342,126 shares of company stock worth $68,827,399. Company insiders own 34.25% of the company's stock.

Reddit Stock Down 2.3%

RDDT opened at $254.44 on Monday. Reddit Inc. has a twelve month low of $57.22 and a twelve month high of $266.64. The company has a 50-day moving average price of $196.30 and a 200 day moving average price of $145.56. The company has a market cap of $47.62 billion, a PE ratio of 231.31, a price-to-earnings-growth ratio of 4.03 and a beta of 2.38.

Reddit (NYSE:RDDT - Get Free Report) last released 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 net margin of 12.97% and a return on equity of 9.93%. The company had revenue of $499.63 million during the quarter, compared to the consensus estimate of $424.07 million. During the same quarter in the prior year, the firm earned ($0.06) EPS. Reddit's quarterly revenue 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 expect that Reddit Inc. will post 1.12 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Roth Capital upped their price target on shares of Reddit from $130.00 to $145.00 and gave the company a "neutral" rating in a report on Monday, July 21st. Needham & Company LLC upped their price target on shares of Reddit from $165.00 to $215.00 and gave the company a "buy" rating in a report on Friday, August 1st. Citigroup upped their price target on shares of Reddit from $158.00 to $163.00 and gave the company a "buy" rating in a report on Tuesday, June 24th. Sanford C. Bernstein upped 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. Finally, JPMorgan Chase & Co. upped their price target on shares of Reddit from $145.00 to $190.00 and gave the company a "neutral" rating in a report on Friday, August 1st. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price 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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