Nissay Asset Management Corp Japan ADV Invests $842,000 in Reddit Inc. $RDDT

Key Points

• Nissay Asset Management Corp Japan ADV has purchased 8,026 shares of Reddit Inc. (NYSE:RDDT), valued at approximately $842,000, marking its new stake in the company during the first quarter.
• Reddit's stock has seen recent analyst upgrades, with target prices raised by firms like Citigroup and JMP Securities, reflecting a general sentiment of growth potential.
• Insider trading activity has increased, with COO Jennifer L. Wong selling 40,967 shares and CTO Christopher Brian Slowe selling 28,000 shares, both showing significant decreases in their ownership percentages.

Nissay Asset Management Corp Japan ADV acquired a new position in Reddit Inc. (NYSE:RDDT - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 8,026 shares of the company's stock, valued at approximately $842,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its position in Reddit by 98.2% in the first quarter. JPMorgan Chase & Co. now owns 1,907,495 shares of the company's stock worth $200,096,000 after purchasing an additional 944,847 shares during the period. Greycroft LP grew its stake in shares of Reddit by 109.1% during the first quarter. Greycroft LP now owns 11,500 shares of the company's stock worth $1,206,000 after purchasing an additional 6,000 shares during the period. Ogborne Capital Management LLC acquired a new stake in shares of Reddit during the fourth quarter worth $11,539,000. Voloridge Investment Management LLC grew its stake in shares of Reddit by 46.3% during the fourth quarter. Voloridge Investment Management LLC now owns 963,516 shares of the company's stock worth $157,477,000 after purchasing an additional 304,773 shares during the period. Finally, Renaissance Capital LLC grew its stake in shares of Reddit by 10.9% during the first quarter. Renaissance Capital LLC now owns 34,636 shares of the company's stock worth $3,633,000 after purchasing an additional 3,400 shares during the period.

Analyst Ratings Changes

A number of research analysts have issued reports on RDDT shares. Roth Capital boosted their target price on Reddit from $130.00 to $145.00 and gave the company a "neutral" rating in a research note on Monday, July 21st. Royal Bank Of Canada restated a "sector perform" rating and issued a $210.00 price objective on shares of Reddit in a research note on Friday, August 22nd. Sanford C. Bernstein increased their target price on Reddit from $130.00 to $150.00 and gave the stock a "market perform" rating in a research note on Tuesday, July 22nd. Bank of America increased their target price on Reddit from $130.00 to $150.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 30th. Finally, Piper Sandler increased their price target on Reddit from $150.00 to $210.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $180.58.

Insiders Place Their Bets

In other Reddit news, insider Benjamin Seong Lee sold 6,426 shares of the firm's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $220.28, for a total value of $1,415,519.28. Following the completion of the sale, the insider directly owned 83,445 shares in the company, valued at $18,381,264.60. This trade represents a 7.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, COO Jennifer L. Wong sold 30,806 shares of the firm's stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $218.55, for a total transaction 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 trade represents a 2.27% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 500,777 shares of company stock valued at $88,572,016 over the last ninety days. 34.25% of the stock is owned by corporate insiders.

Reddit Stock Down 2.3%

Reddit stock traded down $6.10 during trading on Friday, hitting $254.44. The stock had a trading volume of 3,677,329 shares, compared to its average volume of 5,714,706. The stock has a market cap of $47.62 billion, a price-to-earnings ratio of 231.31, a price-to-earnings-growth ratio of 4.13 and a beta of 2.40. The stock's 50 day moving average is $196.30 and its two-hundred day moving average is $145.81. Reddit Inc. has a 1 year low of $57.22 and a 1 year high of $266.64.

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

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.