Rhumbline Advisers Buys 9,162 Shares of Reddit Inc. $RDDT

Key Points

• Rhumbline Advisers increased its stake in Reddit Inc. by 202.7%, holding 13,682 shares valued at approximately $1.4 million after purchasing an additional 9,162 shares.
• Reddit reported strong quarterly earnings with an EPS of $0.45, significantly above expectations of $0.20, alongside a year-over-year revenue increase of 77.9% to $499.63 million.
• Multiple analysts have raised their price targets for Reddit, with Needham & Company setting a target at $300, reflecting positive market sentiment towards the company's performance.

Rhumbline Advisers raised its stake in Reddit Inc. (NYSE:RDDT - Free Report) by 202.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,682 shares of the company's stock after acquiring an additional 9,162 shares during the quarter. Rhumbline Advisers' holdings in Reddit were worth $1,435,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in RDDT. Cetera Investment Advisers increased its position in Reddit by 94.3% in the 4th quarter. Cetera Investment Advisers now owns 7,258 shares of the company's stock valued at $1,186,000 after acquiring an additional 3,523 shares in the last quarter. Tidal Investments LLC bought a new position in shares of Reddit in the 4th quarter valued at about $2,388,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Reddit by 154.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 105,180 shares of the company's stock valued at $17,191,000 after purchasing an additional 63,857 shares during the last quarter. PharVision Advisers LLC bought a new position in Reddit during the 4th quarter worth approximately $248,000. Finally, Fourth Dimension Wealth LLC bought a new position in Reddit during the 4th quarter worth approximately $49,000.

Reddit Stock Performance

RDDT traded down $4.84 during trading on Monday, reaching $259.64. 2,874,276 shares of the stock were exchanged, compared to its average volume of 7,644,297. The stock has a market cap of $48.59 billion, a P/E ratio of 236.06, a price-to-earnings-growth ratio of 4.16 and a beta of 2.38. Reddit Inc. has a twelve month low of $63.60 and a twelve month high of $282.95. The stock's 50 day moving average price is $208.28 and its two-hundred day moving average price is $149.27.

Reddit (NYSE:RDDT - Get Free Report) last issued its quarterly earnings data 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. The company had revenue of $499.63 million for the quarter, compared to analyst estimates of $424.07 million. Reddit had a net margin of 12.97% and a return on equity of 9.93%. The company's revenue was up 77.9% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.06) earnings per share. Reddit has set its Q3 2025 guidance at EPS. Equities research analysts predict that Reddit Inc. will post 1.12 earnings per share for the current fiscal year.

Insider Activity at Reddit

In other news, CTO Christopher Brian Slowe sold 28,000 shares of the stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $218.94, for a total value of $6,130,320.00. Following the transaction, the chief technology officer directly owned 222,534 shares of the company's stock, valued at $48,721,593.96. This represents a 11.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Jennifer L. Wong sold 40,967 shares of the company'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 owned 120,033 shares in the company, valued at $26,452,872.54. This trade represents a 25.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 344,126 shares of company stock valued at $71,345,839 over the last three months. Company insiders own 34.25% of the company's stock.

Wall Street Analyst Weigh In

RDDT has been the topic of several recent analyst reports. Wolfe Research raised shares of Reddit to an "outperform" rating in a research note on Sunday, August 3rd. JPMorgan Chase & Co. lifted their price target on shares of Reddit from $145.00 to $190.00 and gave the company a "neutral" rating in a research note on Friday, August 1st. Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $210.00 price target on shares of Reddit in a research note on Friday, August 22nd. Oppenheimer lifted their price target on shares of Reddit from $215.00 to $300.00 and gave the company an "outperform" rating in a research note on Tuesday, September 16th. Finally, Piper Sandler lifted their price target on shares of Reddit from $210.00 to $290.00 and gave the company an "overweight" rating in a research note on Thursday. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $197.88.

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.