Gulf International Bank UK Ltd Acquires New Stake in Reddit Inc. $RDDT

Key Points

• Gulf International Bank UK Ltd acquired 1,948 shares of Reddit Inc. valued at approximately $204,000 in the first quarter of the year.
• Several institutional investors significantly increased their stakes in Reddit, with Vanguard Group owning over $1 billion worth of shares, alongside substantial boosts from JPMorgan and Cresset Asset Management.
• Reddit's quarterly earnings showed a profit of $0.45 EPS, exceeding expectations, with revenue up 77.9% year-over-year, leading analysts to predict a total of 1.12 EPS for the current year.

Gulf International Bank UK Ltd acquired a new position in Reddit Inc. (NYSE:RDDT - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,948 shares of the company's stock, valued at approximately $204,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Reddit by 11.1% during the 1st quarter. Vanguard Group Inc. now owns 10,198,552 shares of the company's stock valued at $1,069,828,000 after purchasing an additional 1,017,162 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings 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 purchasing an additional 944,847 shares during the last quarter. Lord Abbett & CO. LLC lifted its holdings in shares of Reddit by 12.8% during the 4th 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 during the last quarter. Cresset Asset Management LLC lifted its holdings in shares of Reddit by 159.6% during the 4th 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 during the last quarter. Finally, Whale Rock Capital Management LLC purchased a new stake in shares of Reddit during the 4th quarter valued at $204,054,000.

Insider Activity at Reddit

In other Reddit news, CAO Michelle Marie Reynolds sold 3,500 shares of the company's stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $202.60, for a total transaction of $709,100.00. Following the completion of the transaction, the chief accounting officer directly owned 34,368 shares in the company, valued at approximately $6,962,956.80. This represents a 9.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Steve Ladd Huffman sold 14,000 shares of Reddit stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $244.70, for a total transaction of $3,425,800.00. Following the completion of the sale, the chief executive officer owned 531,485 shares in the company, valued at approximately $130,054,379.50. This trade represents a 2.57% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 363,364 shares of company stock worth $53,557,742 in the last quarter. 34.25% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages have recently commented on RDDT. Royal Bank Of Canada set a $125.00 price objective on Reddit and gave the company a "sector perform" rating in a report on Wednesday, June 25th. JPMorgan Chase & Co. boosted their price target on Reddit from $145.00 to $190.00 and gave the company a "neutral" rating in a research note on Friday, August 1st. Roth Mkm boosted their price target on Reddit from $120.00 to $130.00 and gave the company a "neutral" rating in a research note on Friday, May 2nd. Piper Sandler boosted their price target on Reddit from $150.00 to $210.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Finally, Needham & Company LLC boosted their price target on Reddit from $165.00 to $215.00 and gave the company a "buy" rating in a research note on Friday, August 1st. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Reddit presently has a consensus rating of "Moderate Buy" and a consensus target price of $171.83.

Reddit Price Performance

RDDT stock traded up $0.8450 during mid-day trading on Thursday, reaching $219.2150. 3,348,411 shares of the company's stock were exchanged, compared to its average volume of 7,903,796. Reddit Inc. has a 12-month low of $55.02 and a 12-month high of $253.14. The stock's 50 day moving average is $165.78 and its 200 day moving average is $142.05. The company has a market cap of $41.03 billion, a price-to-earnings ratio of 199.42, a price-to-earnings-growth ratio of 3.62 and a beta of 2.30.

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. The business had revenue of $499.63 million during the quarter, compared to analysts' expectations of $424.07 million. Reddit had a return on equity of 9.93% and a net margin of 12.97%.The business's revenue was up 77.9% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.06) earnings per share. Reddit has set its Q3 2025 guidance at EPS. On average, research analysts forecast that Reddit Inc. will post 1.12 earnings per share for the current fiscal year.

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.