Korea Investment CORP Invests $4.39 Million in Reddit Inc. $RDDT

Key Points

• Korea Investment CORP acquired 41,866 shares of Reddit Inc. ($RDDT) valued at approximately $4.39 million during the 1st quarter.
• Insider selling has been significant, with a total of 411,004 shares sold in the last 90 days, representing a 7.15% decrease for one insider and a 10.27% decrease for another.
• Analysts have raised price targets for Reddit, with estimates ranging from $118.00 to $230.00 and a consensus rating of "Moderate Buy."

Korea Investment CORP bought a new position in shares of Reddit Inc. (NYSE:RDDT - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor bought 41,866 shares of the company's stock, valued at approximately $4,392,000.

Other large investors have also recently added to or reduced their stakes in the company. CWM LLC increased its position in shares of Reddit by 100.0% in the 1st quarter. CWM LLC now owns 256 shares of the company's stock valued at $27,000 after purchasing an additional 128 shares during the last quarter. Fourth Dimension Wealth LLC purchased a new stake in shares of Reddit in the 4th quarter valued at approximately $49,000. Chelsea Counsel Co. purchased a new stake in shares of Reddit in the 4th quarter valued at approximately $49,000. Stone House Investment Management LLC purchased a new stake in shares of Reddit in the 1st quarter valued at approximately $31,000. Finally, Quarry LP purchased a new stake in shares of Reddit in the 4th quarter valued at approximately $59,000.

Reddit Price Performance

Shares of RDDT stock traded up $0.36 during mid-day trading on Tuesday, hitting $220.09. The stock had a trading volume of 5,304,964 shares, compared to its average volume of 9,025,250. The company's 50-day simple moving average is $173.41 and its 200-day simple moving average is $141.61. The firm has a market cap of $41.19 billion, a PE ratio of 200.08, a PEG ratio of 3.48 and a beta of 2.30. Reddit Inc. has a fifty-two week low of $55.02 and a fifty-two week high of $253.14.

Reddit (NYSE:RDDT - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The company reported $0.45 earnings per share (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 the consensus estimate of $424.07 million. Reddit had a net margin of 12.97% and a return on equity of 9.93%. The business's revenue was up 77.9% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.06) EPS. Reddit has set its Q3 2025 guidance at EPS. On average, analysts expect that Reddit Inc. will post 1.12 EPS for the current year.

Insider Buying and Selling at Reddit

In other Reddit news, COO Jennifer L. Wong sold 40,967 shares of the firm's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $220.38, for a total transaction of $9,028,307.46. Following the completion of the transaction, the chief operating officer directly owned 120,033 shares in the company, valued at approximately $26,452,872.54. This trade represents a 25.45% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO Christopher Brian Slowe sold 28,000 shares of the firm's stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $218.94, for a total transaction of $6,130,320.00. Following the transaction, the chief technology officer owned 222,534 shares of the company's stock, valued at $48,721,593.96. This trade represents a 11.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 482,777 shares of company stock valued at $79,766,696. Insiders own 34.25% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on RDDT. Wolfe Research upgraded shares of Reddit to an "outperform" rating in a report on Sunday, August 3rd. Raymond James Financial restated a "strong-buy" rating and issued a $225.00 target price (up previously from $175.00) on shares of Reddit in a report on Friday, August 1st. Needham & Company LLC upped their target price on shares of Reddit from $165.00 to $215.00 and gave the company a "buy" rating in a report on Friday, August 1st. Robert W. Baird upped their target price on shares of Reddit from $120.00 to $151.00 and gave the company a "neutral" rating in a report on Tuesday, July 8th. Finally, Morgan Stanley upped their target price on shares of Reddit from $170.00 to $230.00 and gave the company an "overweight" rating in a 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 assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Reddit has a consensus rating of "Moderate Buy" and a consensus target price of $175.38.

Reddit 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.