Reddit Inc. $RDDT Shares Purchased by Rhumbline Advisers

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

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. CWM LLC increased its position in Reddit by 100.0% during the first quarter. CWM LLC now owns 256 shares of the company's stock worth $27,000 after acquiring an additional 128 shares during the period. Stone House Investment Management LLC bought a new position in shares of Reddit in the first quarter worth about $31,000. Geneos Wealth Management Inc. grew its stake in shares of Reddit by 344.6% during the first quarter. Geneos Wealth Management Inc. now owns 369 shares of the company's stock worth $39,000 after buying an additional 286 shares during the last quarter. Canton Hathaway LLC bought a new position in Reddit in the first quarter valued at about $43,000. Finally, Olde Wealth Management LLC acquired a new position in shares of Reddit in the first quarter valued at approximately $46,000.

Insider Buying and Selling at Reddit

In other Reddit news, CEO Steve Ladd Huffman sold 18,000 shares of the business's stock in a transaction on Monday, September 15th. The shares were sold at an average price of $261.22, for a total transaction of $4,701,960.00. Following the transaction, the chief executive officer owned 494,104 shares in the company, valued at $129,069,846.88. The trade was a 3.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Andrew Vollero sold 30,000 shares of Reddit stock in a transaction dated 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 sale, the chief financial officer owned 284,168 shares of the company's stock, valued at $61,974,199.12. The trade was a 9.55% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 344,126 shares of company stock valued at $71,345,839 in the last ninety days. 34.25% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages recently commented on RDDT. Guggenheim upped their target price on Reddit from $165.00 to $215.00 and gave the company a "buy" rating in a report on Friday, August 1st. Sanford C. Bernstein boosted their price objective on Reddit from $130.00 to $150.00 and gave the company a "market perform" rating in a report on Tuesday, July 22nd. Bank of America boosted their price objective on Reddit from $130.00 to $150.00 and gave the stock a "neutral" rating in a report on Wednesday, July 30th. JPMorgan Chase & Co. increased their target price on shares of Reddit from $145.00 to $190.00 and gave the company a "neutral" rating in a report on Friday, August 1st. Finally, Cannonball Research reiterated a "buy" rating on shares of Reddit in a report on Tuesday. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Reddit presently has a consensus rating of "Moderate Buy" and an average target price of $197.88.

Reddit Trading Down 5.3%

Shares of RDDT stock traded down $13.57 during trading hours on Tuesday, reaching $243.99. The company's stock had a trading volume of 2,180,549 shares, compared to its average volume of 7,621,396. The stock has a market capitalization of $45.66 billion, a P/E ratio of 221.84, a P/E/G ratio of 4.16 and a beta of 2.38. The firm's fifty day simple moving average is $210.50 and its 200 day simple moving average is $150.13. Reddit Inc. has a one year low of $63.60 and a one year high of $282.95.

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