Russell Investments Group Ltd. Has $8.17 Million Stake in Reddit Inc. $RDDT

Key Points

• Russell Investments Group Ltd. reduced its stake in Reddit by 54.5%, selling 91,455 shares, and now holds a total of 76,470 shares valued at approximately $8.17 million.
• Other institutional investors have also increased their positions in Reddit, with Vanguard Group Inc. boosting holdings by 11.1% and JPMorgan Chase & Co. increasing theirs by 98.2%.
• Reddit reported earnings of $0.45 EPS, surpassing estimates, with a revenue of $499.63 million for the quarter, marking a year-over-year increase of 77.9%.

Russell Investments Group Ltd. cut its holdings in Reddit Inc. (NYSE:RDDT - Free Report) by 54.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 76,470 shares of the company's stock after selling 91,455 shares during the period. Russell Investments Group Ltd.'s holdings in Reddit were worth $8,174,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Mariner LLC lifted its position in shares of Reddit by 244.3% in the fourth quarter. Mariner LLC now owns 21,650 shares of the company's stock worth $3,538,000 after buying an additional 15,361 shares during the last quarter. Guggenheim Capital LLC acquired a new stake in Reddit in the 4th quarter worth approximately $606,000. United Capital Financial Advisors LLC bought a new stake in Reddit during the fourth quarter worth approximately $218,000. NewEdge Advisors LLC boosted its position in Reddit by 446.8% during the fourth quarter. NewEdge Advisors LLC now owns 3,281 shares of the company's stock worth $536,000 after purchasing an additional 2,681 shares during the period. Finally, First Trust Advisors LP grew its holdings in Reddit by 14.4% during the fourth quarter. First Trust Advisors LP now owns 61,019 shares of the company's stock valued at $9,973,000 after purchasing an additional 7,682 shares during the last quarter.

Wall Street Analyst Weigh In

RDDT has been the subject of several recent analyst reports. JMP Securities upped their price objective on shares of Reddit from $180.00 to $225.00 and gave the stock a "market outperform" rating in a report on Friday, August 1st. JPMorgan Chase & Co. upped their price target on shares of Reddit from $145.00 to $190.00 and gave the company a "neutral" rating in a report on Friday, August 1st. Argus assumed coverage on Reddit in a research report on Monday. They issued a "buy" rating and a $250.00 price target on the stock. Roth Capital lifted their price objective on Reddit from $130.00 to $145.00 and gave the stock a "neutral" rating in a research note on Monday, July 21st. Finally, Piper Sandler boosted their price objective 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 issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $175.38.

Insider Buying and Selling at Reddit

In other Reddit news, CTO Christopher Brian Slowe sold 28,000 shares of Reddit stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $218.94, for a total transaction of $6,130,320.00. Following the sale, the chief technology officer directly owned 222,534 shares of the company's stock, valued at approximately $48,721,593.96. The trade was a 11.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Jennifer L. Wong sold 33,334 shares of the company's stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $142.06, for a total value of $4,735,428.04. Following the completion of the sale, the chief operating officer owned 1,428,007 shares in the company, valued at approximately $202,862,674.42. This represents a 2.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 411,004 shares of company stock worth $64,005,737 in the last three months. 34.25% of the stock is currently owned by company insiders.

Reddit Stock Down 0.6%

Reddit stock traded down $1.3650 during trading hours on Friday, hitting $217.2850. The stock had a trading volume of 7,623,279 shares, compared to its average volume of 8,839,909. The company has a 50-day moving average of $169.82 and a two-hundred day moving average of $142.17. Reddit Inc. has a fifty-two week low of $55.02 and a fifty-two week high of $253.14. The company has a market cap of $40.67 billion, a PE ratio of 197.53, a price-to-earnings-growth ratio of 3.47 and a beta of 2.30.

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

About Reddit

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.