Reddit Inc. $RDDT Shares Bought by Fishman Jay A Ltd. MI

Key Points

• Fishman Jay A Ltd. MI increased its Reddit stake by 23.2% in the first quarter, buying 28,490 additional shares and bringing its total holdings to 151,066 shares worth about $20.3 million.
• Reddit continues to draw bullish analyst attention, with Wells Fargo lifting its price target to $187 and several other firms reiterating positive ratings; the Street’s average target now sits at $231.14.
• The company reported strong first-quarter results, beating EPS and revenue estimates as revenue rose 69.1% year over year, while Reddit is also expanding its AI licensing business and tightening AI safety and anti-spam measures.

Fishman Jay A Ltd. MI grew its stake in shares of Reddit Inc. (NYSE:RDDT - Free Report) by 23.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 151,066 shares of the company's stock after purchasing an additional 28,490 shares during the quarter. Reddit makes up 1.8% of Fishman Jay A Ltd. MI's portfolio, making the stock its 15th largest holding. Fishman Jay A Ltd. MI owned about 0.08% of Reddit worth $20,341,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Truist Financial Corp boosted its position in shares of Reddit by 67.7% during the fourth quarter. Truist Financial Corp now owns 15,659 shares of the company's stock worth $3,600,000 after buying an additional 6,321 shares during the period. Swiss Life Asset Management Ltd increased its position in Reddit by 63.2% in the 4th quarter. Swiss Life Asset Management Ltd now owns 32,003 shares of the company's stock valued at $7,357,000 after acquiring an additional 12,398 shares during the period. Calamos Advisors LLC bought a new stake in Reddit during the 4th quarter valued at $2,299,000. Handelsbanken Fonder AB raised its stake in Reddit by 22.9% during the 4th quarter. Handelsbanken Fonder AB now owns 37,000 shares of the company's stock valued at $8,505,000 after acquiring an additional 6,900 shares in the last quarter. Finally, Berkshire Capital Holdings Inc. boosted its position in Reddit by 326,400.0% during the 4th quarter. Berkshire Capital Holdings Inc. now owns 32,650 shares of the company's stock worth $7,505,000 after acquiring an additional 32,640 shares during the period.

Key Headlines Impacting Reddit

Here are the key news stories impacting Reddit this week:

• Positive Sentiment: Wells Fargo raised its price target on Reddit to $187 from $176, reinforcing a constructive view on the stock and helping support bullish momentum after a recent rally. Wells Fargo raises target on Reddit
• Positive Sentiment: Reddit is expanding its AI licensing business, which investors may view as an additional revenue stream tied to demand for its content in the AI ecosystem. Reddit expands AI licensing
• Positive Sentiment: The company is accelerating AI safety and anti-spam efforts, including stronger bot detection and human verification, which could improve user trust and protect the quality of Reddit conversations. Reddit AI safety drive accelerates
• Neutral Sentiment: Coverage on Reddit’s recent rally highlights technical strength and potential upside levels, but it is mostly a trading-focused read rather than a new fundamental catalyst. Options Corner video on RDDT
• Neutral Sentiment: Insider selling by the company’s CAO was disclosed, but the transaction was small and occurred under a pre-arranged 10b5-1 plan, making it less likely to signal a major change in outlook. Reddit CAO sells stock
• Negative Sentiment: Despite the higher target, Wells Fargo still rates Reddit “equal weight,” implying the stock may be close to fairly valued rather than dramatically undervalued at current levels. Wells Fargo equal weight rating on Reddit

Analyst Ratings Changes

A number of brokerages have recently commented on RDDT. Needham & Company LLC reissued a "buy" rating and set a $300.00 price target on shares of Reddit in a report on Wednesday, June 24th. Citigroup reiterated a "market outperform" rating on shares of Reddit in a research report on Tuesday, May 26th. DA Davidson reissued a "buy" rating and set a $200.00 target price on shares of Reddit in a research note on Friday, May 1st. Wells Fargo & Company boosted their price target on shares of Reddit from $176.00 to $187.00 and gave the stock an "equal weight" rating in a research report on Tuesday. Finally, Raymond James Financial set a $180.00 price target on shares of Reddit and gave the stock a "market perform" rating in a research note on Friday, May 1st. Eighteen investment analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. According to data from MarketBeat.com, Reddit currently has an average rating of "Moderate Buy" and an average target price of $231.14.

Reddit Stock Down 0.8%

RDDT opened at $199.32 on Wednesday. The firm has a market cap of $38.37 billion, a PE ratio of 56.95 and a beta of 1.93. The business has a fifty day simple moving average of $166.78 and a 200-day simple moving average of $171.23. Reddit Inc. has a fifty-two week low of $119.27 and a fifty-two week high of $282.95.

Reddit (NYSE:RDDT - Get Free Report) last announced its earnings results on Thursday, April 30th. The company reported $1.01 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.62 by $0.39. The company had revenue of $663.41 million for the quarter, compared to analyst estimates of $607.74 million. Reddit had a return on equity of 25.48% and a net margin of 28.60%.Reddit's revenue for the quarter was up 69.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.13 earnings per share. On average, equities research analysts anticipate that Reddit Inc. will post 4.83 EPS for the current fiscal year.

Insider Transactions at Reddit

In related news, CAO Michelle Marie Reynolds sold 808 shares of the company's stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $200.00, for a total value of $161,600.00. Following the completion of the sale, the chief accounting officer owned 15,060 shares in the company, valued at approximately $3,012,000. This represents a 5.09% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Steve Ladd Huffman sold 18,000 shares of the firm's stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $157.15, for a total transaction of $2,828,700.00. Following the completion of the transaction, the chief executive officer directly owned 411,195 shares of the company's stock, valued at $64,619,294.25. This represents a 4.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 226,308 shares of company stock valued at $37,856,340 over the last ninety days. Corporate insiders own 28.48% of the company's stock.

Reddit Company Profile

Reddit is an online social news aggregation, discussion and content-sharing platform organized around user-created communities called "subreddits," each focused on a particular topic or interest. Registered users submit links, text posts, images and video, and community members vote and comment to surface popular content. The site is accessed via its web platform and mobile apps for iOS and Android, and it supports live events such as Ask Me Anything (AMA) sessions and community-driven discussions.

Founded in 2005 by Steve Huffman and Alexis Ohanian, Reddit is headquartered in San Francisco and serves a global audience with particularly large user bases in the United States and other English-speaking markets.

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