IFM Investors Pty Ltd Takes $1.32 Million Position in Reddit Inc. $RDDT

Key Points

• IFM Investors Pty Ltd has acquired a new stake in Reddit Inc. valued at approximately $1.32 million, purchasing 12,558 shares in the first quarter of the year.
• Multiple institutional investors, including Vanguard Group Inc. and Alliancebernstein L.P., significantly increased their holdings in Reddit during the same period, with increases of up to 121.1%.
• In its latest earnings report, Reddit Inc. posted $0.45 earnings per share, significantly exceeding analyst expectations and showing a 77.9% increase in revenue compared to last year.

IFM Investors Pty Ltd purchased a new stake in Reddit Inc. (NYSE:RDDT - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The fund purchased 12,558 shares of the company's stock, valued at approximately $1,317,000.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Vanguard Group Inc. boosted its holdings in shares of Reddit by 11.1% in the 1st 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 during the period. Alliancebernstein L.P. boosted its holdings in shares of Reddit by 103.0% in the 1st 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 during the period. T. Rowe Price Investment Management Inc. boosted its holdings in shares of Reddit by 10.6% in the 1st 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 during the period. JPMorgan Chase & Co. boosted its holdings in shares of Reddit by 98.2% in 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 during the period. Finally, Scge Management L.P. boosted its holdings in shares of Reddit by 121.1% in the 1st 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 during the period.

Reddit Trading Down 2.3%

Shares of NYSE:RDDT opened at $254.44 on Friday. The company has a 50 day moving average of $196.30 and a 200-day moving average of $145.81. The firm has a market cap of $47.62 billion, a P/E ratio of 231.31, a P/E/G ratio of 4.13 and a beta of 2.40. Reddit Inc. has a twelve month low of $57.22 and a twelve month high of $266.64.

Reddit (NYSE:RDDT - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The company reported $0.45 earnings per share for the quarter, topping analysts' consensus estimates of $0.20 by $0.25. The company had revenue of $499.63 million during the quarter, compared to analyst estimates of $424.07 million. Reddit had a net margin of 12.97% and a return on equity of 9.93%. The business's revenue for the quarter was up 77.9% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.06) EPS. Reddit has set its Q3 2025 guidance at EPS. Equities research analysts forecast that Reddit Inc. will post 1.12 EPS for the current year.

Insider Buying and Selling

In other news, CEO Steve Ladd Huffman sold 18,000 shares of the company'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 sale, the chief executive officer directly owned 494,104 shares of the company's stock, valued at approximately $110,387,774.64. This represents a 3.51% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Jennifer L. Wong sold 30,806 shares of the company's stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $218.55, for a total transaction of $6,732,651.30. Following the completion of 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 represents a 2.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 500,777 shares of company stock worth $88,572,016. Company insiders own 34.25% of the company's stock.

Analyst Upgrades and Downgrades

RDDT has been the subject of a number of analyst reports. Raymond James Financial reissued a "strong-buy" rating and set a $225.00 target price (up from $175.00) on shares of Reddit in a research note on Friday, August 1st. Wall Street Zen raised shares of Reddit from a "hold" rating to a "buy" rating in a research note on Sunday, September 7th. Wells Fargo & Company boosted their target price on shares of Reddit from $115.00 to $118.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 1st. Royal Bank Of Canada reissued a "sector perform" rating and set a $210.00 target price on shares of Reddit in a research note on Friday, August 22nd. Finally, Robert W. Baird boosted their target price on shares of Reddit from $120.00 to $151.00 and gave the company a "neutral" rating in a research note on Tuesday, July 8th. Two research 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 issued a Sell rating to the company. According to MarketBeat, the company has a consensus 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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