Jupiter Asset Management Ltd. Purchases 10,016 Shares of Reddit Inc. $RDDT

Jupiter Asset Management Ltd. increased its position in Reddit Inc. (NYSE:RDDT) by 9.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 114,572 shares of the company’s stock after buying an additional 10,016 shares during the period. Jupiter Asset Management Ltd.’s holdings in Reddit were worth $17,251,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Alliancebernstein L.P. raised its holdings in shares of Reddit by 103.0% in the 1st quarter. Alliancebernstein L.P. now owns 5,659,990 shares of the company’s stock worth $593,733,000 after purchasing an additional 2,871,232 shares during the period. Nordea Investment Management AB boosted its stake in shares of Reddit by 21,703.0% in the 2nd quarter. Nordea Investment Management AB now owns 1,060,935 shares of the company’s stock valued at $164,021,000 after purchasing an additional 1,056,069 shares in the last quarter. Vanguard Group Inc. lifted its position in Reddit by 11.1% in the first quarter. Vanguard Group Inc. now owns 10,198,552 shares of the company’s stock valued at $1,069,828,000 after purchasing an additional 1,017,162 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Reddit by 98.2% during the first quarter. JPMorgan Chase & Co. now owns 1,907,495 shares of the company’s stock worth $200,096,000 after purchasing an additional 944,847 shares during the period. Finally, Scge Management L.P. boosted its holdings in Reddit by 121.1% in the first quarter. Scge Management L.P. now owns 1,612,000 shares of the company’s stock valued at $169,099,000 after acquiring an additional 883,000 shares in the last quarter.

Insider Transactions at Reddit

In other news, CEO Steve Ladd Huffman sold 18,000 shares of the stock in a transaction on Friday, August 29th. The stock was sold at an average price of $223.41, for a total transaction of $4,021,380.00. Following the sale, the chief executive officer owned 494,104 shares in the company, valued at approximately $110,387,774.64. This represents a 3.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Christopher Brian Slowe sold 28,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $218.94, for a total transaction of $6,130,320.00. Following the completion of the transaction, the chief technology officer directly owned 222,534 shares in the company, valued at approximately $48,721,593.96. The trade was a 11.18% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 434,126 shares of company stock worth $97,231,634. 34.25% of the stock is owned by company insiders.

Reddit Stock Down 2.7%

RDDT opened at $202.65 on Thursday. The business’s fifty day simple moving average is $220.10 and its 200 day simple moving average is $176.09. Reddit Inc. has a 52 week low of $79.75 and a 52 week high of $282.95. The firm has a market cap of $38.40 billion, a P/E ratio of 116.46, a PEG ratio of 2.29 and a beta of 2.14.

Reddit (NYSE:RDDT) last issued its quarterly earnings data on Thursday, October 30th. The company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.30. Reddit had a net margin of 18.33% and a return on equity of 14.94%. The company had revenue of $585.00 million during the quarter, compared to the consensus estimate of $546.65 million. During the same quarter last year, the company earned $0.16 earnings per share. Reddit’s revenue for the quarter was up 67.9% on a year-over-year basis. Reddit has set its Q4 2025 guidance at EPS. As a group, equities analysts expect that Reddit Inc. will post 1.12 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

RDDT has been the topic of several analyst reports. Wolfe Research raised Reddit to an “outperform” rating in a report on Sunday, August 3rd. Jefferies Financial Group raised their price objective on Reddit from $230.00 to $300.00 and gave the company a “buy” rating in a research report on Wednesday, September 10th. Truist Financial set a $270.00 target price on shares of Reddit in a report on Friday, October 31st. Citigroup raised their target price on shares of Reddit from $250.00 to $265.00 and gave the company a “buy” rating in a research report on Monday, November 3rd. Finally, The Goldman Sachs Group restated a “neutral” rating and set a $236.00 price objective on shares of Reddit in a report on Tuesday, October 14th. Three analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $226.33.

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.