Livforsakringsbolaget Skandia Omsesidigt Increases Stock Position in Reddit Inc. $RDDT

Key Points

• Livforsakringsbolaget Skandia Omsesidigt significantly increased its investment in Reddit Inc. by acquiring 7,071 shares, bringing its total holdings to 7,571 shares worth approximately $1.14 million.
• Analysts have raised their price targets for Reddit, with estimates varying from $200 to $300, reflecting strong confidence in the company's future performance; consensus ratings currently sit at a "Moderate Buy."
• Reddit reported robust financial results, with a 77.9% year-over-year revenue increase and earnings per share of $0.45, surpassing consensus estimates significantly.

Livforsakringsbolaget Skandia Omsesidigt boosted its stake in shares of Reddit Inc. (NYSE:RDDT - Free Report) by 1,414.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,571 shares of the company's stock after buying an additional 7,071 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt's holdings in Reddit were worth $1,140,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RDDT. CWM LLC lifted its holdings in Reddit by 100.0% during the 1st quarter. CWM LLC now owns 256 shares of the company's stock valued at $27,000 after buying an additional 128 shares in the last quarter. Stone House Investment Management LLC bought a new stake in Reddit during the 1st quarter valued at about $31,000. Geneos Wealth Management Inc. raised its holdings in shares of Reddit by 344.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 369 shares of the company's stock valued at $39,000 after purchasing an additional 286 shares in the last quarter. Canton Hathaway LLC bought a new stake in shares of Reddit in the 1st quarter valued at about $43,000. Finally, Olde Wealth Management LLC bought a new stake in shares of Reddit in the 1st quarter valued at about $46,000.

Insiders Place Their Bets

In other news, COO Jennifer L. Wong sold 30,806 shares of the company's stock in a transaction on Monday, August 25th. The shares were sold at an average price of $218.55, for a total value of $6,732,651.30. Following the sale, the chief operating officer directly owned 1,326,709 shares of the company's stock, valued at $289,952,251.95. This represents a 2.27% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Andrew Vollero sold 30,000 shares of the company'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 directly owned 284,168 shares in the company, valued at $61,974,199.12. This trade represents a 9.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 360,126 shares of company stock worth $73,529,359. Company insiders own 34.25% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on RDDT. Wolfe Research upgraded shares of Reddit to an "outperform" rating in a report on Sunday, August 3rd. JPMorgan Chase & Co. boosted 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. Wells Fargo & Company boosted their price target on shares of Reddit from $115.00 to $118.00 and gave the company an "equal weight" rating in a report on Tuesday, July 1st. Jefferies Financial Group boosted their price target on shares of Reddit from $230.00 to $300.00 and gave the company a "buy" rating in a report on Wednesday, September 10th. Finally, Roth Capital lifted their price objective on shares of Reddit from $130.00 to $145.00 and gave the stock a "neutral" rating in a research report on Monday, July 21st. Two equities research 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 assigned a Sell rating to the company. According to data from MarketBeat.com, Reddit currently has an average rating of "Moderate Buy" and an average price target of $197.88.

Reddit Price Performance

NYSE:RDDT traded up $4.00 during trading hours on Thursday, hitting $270.47. 6,833,524 shares of the company were exchanged, compared to its average volume of 5,058,259. The stock has a market capitalization of $50.62 billion, a price-to-earnings ratio of 245.88, a PEG ratio of 4.19 and a beta of 2.40. Reddit Inc. has a 52-week low of $63.60 and a 52-week high of $282.95. The company's 50 day moving average price is $205.88 and its 200-day moving average price is $148.68.

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 the consensus estimate of $0.20 by $0.25. The business had revenue of $499.63 million for 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 for the quarter was up 77.9% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.06) EPS. Reddit has set its Q3 2025 guidance at EPS. On average, equities analysts predict that Reddit Inc. will post 1.12 earnings per share for the current 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.