Versor Investments LP Acquires New Position in Reddit Inc. $RDDT

Key Points

• Versor Investments LP has entered a new investment in Reddit Inc. (NYSE:RDDT), acquiring 2,200 shares valued at approximately $231,000 in the first quarter.
• Recent equity research shows a generally positive outlook for Reddit, with multiple firms, including Wolfe Research and Piper Sandler, raising their ratings and price targets for the stock.
• Insider trading activity included CEO Steve Ladd Huffman selling over 124,000 shares of the company, significantly reducing their ownership by 18.55%.

Versor Investments LP bought a new position in Reddit Inc. (NYSE:RDDT - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 2,200 shares of the company's stock, valued at approximately $231,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. CWM LLC grew its stake in shares of Reddit by 100.0% in the 1st quarter. CWM LLC now owns 256 shares of the company's stock worth $27,000 after buying an additional 128 shares in the last quarter. Fourth Dimension Wealth LLC bought a new stake in Reddit during the 4th quarter valued at about $49,000. Chelsea Counsel Co. bought a new stake in Reddit during the 4th quarter valued at about $49,000. Stone House Investment Management LLC bought a new stake in Reddit during the 1st quarter valued at about $31,000. Finally, Quarry LP bought a new stake in shares of Reddit in the 4th quarter valued at about $59,000.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Sanford C. Bernstein lifted their price objective on shares of Reddit from $130.00 to $150.00 and gave the stock a "market perform" rating in a research report on Tuesday, July 22nd. Needham & Company LLC boosted their target price on shares of Reddit from $165.00 to $215.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Bank of America upped their price objective on shares of Reddit from $130.00 to $150.00 and gave the company a "neutral" rating in a report on Wednesday, July 30th. Piper Sandler lifted their target price on shares of Reddit from $150.00 to $210.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Finally, Argus started coverage on Reddit in a research report on Monday, August 18th. They set a "buy" rating and a $250.00 price target on the stock. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued 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.com, the stock has an average rating of "Moderate Buy" and an average price target of $175.38.

Insider Transactions at Reddit

In other Reddit news, CTO Christopher Brian Slowe sold 28,000 shares of Reddit stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $218.94, for a total value of $6,130,320.00. Following the completion of the sale, the chief technology officer owned 222,534 shares in the company, valued at $48,721,593.96. The trade was a 11.18% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Jennifer L. Wong sold 33,334 shares of the business's stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $142.06, for a total value of $4,735,428.04. Following the sale, the chief operating officer owned 1,428,007 shares of the company's stock, valued at $202,862,674.42. The trade was a 2.28% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 411,004 shares of company stock worth $64,005,737. Corporate insiders own 34.25% of the company's stock.

Reddit Stock Performance

Shares of RDDT traded up $2.65 during mid-day trading on Monday, hitting $219.96. 4,577,329 shares of the company's stock were exchanged, compared to its average volume of 8,996,657. The company has a market cap of $41.17 billion, a price-to-earnings ratio of 197.55, a P/E/G ratio of 3.45 and a beta of 2.30. Reddit Inc. has a fifty-two week low of $55.02 and a fifty-two week high of $253.14. The stock's 50-day moving average is $169.82 and its 200-day moving average is $141.10.

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

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.