OMERS ADMINISTRATION Corp Buys 2,000 Shares of Reddit Inc. $RDDT

Key Points

• OMERS ADMINISTRATION Corp increased its stake in Reddit Inc. by 90.9% in Q1, owning 4,200 shares valued at $441,000.
• JPMorgan Chase & Co. also significantly boosted its stake by 98.2%, acquiring nearly 1.9 million shares valued at approximately $200 million.
• Analysts have raised their price targets for Reddit, with ranges between $170.00 and $230.00, and the stock is currently rated as a "Moderate Buy" with an average target price of $175.38.

OMERS ADMINISTRATION Corp boosted its holdings in shares of Reddit Inc. (NYSE:RDDT - Free Report) by 90.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,200 shares of the company's stock after buying an additional 2,000 shares during the period. OMERS ADMINISTRATION Corp's holdings in Reddit were worth $441,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of RDDT. Stifel Financial Corp acquired a new position in Reddit during the fourth quarter valued at $1,392,000. The Manufacturers Life Insurance Company grew its stake in Reddit by 20.4% in the fourth quarter. The Manufacturers Life Insurance Company now owns 19,236 shares of the company's stock valued at $3,144,000 after purchasing an additional 3,257 shares in the last quarter. Northern Trust Corp grew its stake in Reddit by 56.5% in the fourth quarter. Northern Trust Corp now owns 267,126 shares of the company's stock valued at $43,659,000 after purchasing an additional 96,461 shares in the last quarter. Comerica Bank grew its stake in Reddit by 122,300.0% in the fourth quarter. Comerica Bank now owns 3,672 shares of the company's stock valued at $600,000 after purchasing an additional 3,669 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV purchased a new position in Reddit in the fourth quarter valued at about $226,000.

Reddit Trading Up 3.5%

NYSE:RDDT traded up $8.08 during mid-day trading on Friday, hitting $240.19. 5,551,228 shares of the company's stock traded hands, compared to its average volume of 5,904,451. The firm has a 50 day moving average of $186.96 and a two-hundred day moving average of $143.13. Reddit Inc. has a 12 month low of $55.25 and a 12 month high of $253.14. The firm has a market capitalization of $44.95 billion, a price-to-earnings ratio of 218.18, a price-to-earnings-growth ratio of 3.81 and a beta of 2.40.

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

Insider Activity

In other Reddit news, CFO Andrew Vollero sold 30,000 shares of the company's stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $218.09, for a total value of $6,542,700.00. Following the completion of the transaction, the chief financial officer owned 284,168 shares of the company's stock, valued at $61,974,199.12. This represents a 9.55% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at 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 shares were sold at an average price of $218.55, for a total value of $6,732,651.30. Following the completion of the transaction, the chief operating officer directly owned 1,326,709 shares of the company's stock, valued at approximately $289,952,251.95. This trade represents a 2.27% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 516,777 shares of company stock worth $88,790,076 over the last 90 days. Company insiders own 34.25% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have commented on RDDT shares. Sanford C. Bernstein boosted their target price on Reddit from $130.00 to $150.00 and gave the company a "market perform" rating in a research note on Tuesday, July 22nd. Piper Sandler boosted their target price on Reddit from $150.00 to $210.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Morgan Stanley boosted their target price on Reddit from $170.00 to $230.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Loop Capital lowered their target price on Reddit from $210.00 to $200.00 and set a "buy" rating on the stock in a research note on Thursday, June 12th. Finally, Robert W. Baird upped their price target on Reddit from $120.00 to $151.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 8th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $175.38.

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.