Nemes Rush Group LLC Has $661,000 Stock Holdings in Reddit Inc. $RDDT

Nemes Rush Group LLC raised its holdings in shares of Reddit Inc. (NYSE:RDDT) by 374.3% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 4,387 shares of the company’s stock after purchasing an additional 3,462 shares during the quarter. Nemes Rush Group LLC’s holdings in Reddit were worth $661,000 at the end of the most recent quarter.

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

Reddit Price Performance

Shares of NYSE RDDT opened at $183.39 on Friday. The business has a 50-day moving average of $211.95 and a 200-day moving average of $179.53. The stock has a market capitalization of $34.75 billion, a price-to-earnings ratio of 105.40, a PEG ratio of 2.02 and a beta of 2.14. Reddit Inc. has a fifty-two week low of $79.75 and a fifty-two week high of $282.95.

Reddit (NYSE:RDDT) last issued its quarterly earnings results on Thursday, October 30th. The company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.50 by $0.30. The firm had revenue of $584.91 million during the quarter, compared to analysts’ expectations of $546.65 million. Reddit had a return on equity of 14.94% and a net margin of 18.33%.The business’s quarterly revenue was up 67.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.16 earnings per share. Reddit has set its Q4 2025 guidance at EPS. On average, sell-side analysts expect that Reddit Inc. will post 1.12 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on RDDT shares. Roth Capital set a $210.00 price target on shares of Reddit in a research report on Friday, October 31st. Piper Sandler reaffirmed an “overweight” rating and set a $290.00 price objective on shares of Reddit in a research note on Friday, October 3rd. Zacks Research raised Reddit from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 29th. Raymond James Financial restated a “strong-buy” rating and issued a $250.00 price target (up from $225.00) on shares of Reddit in a report on Monday, October 20th. Finally, Citigroup lifted their price objective on Reddit from $250.00 to $265.00 and gave the company a “buy” rating in a report on Monday, November 3rd. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $226.33.

Insider Activity

In other Reddit news, CEO Steve Ladd Huffman sold 18,000 shares of the company’s stock in a transaction on Friday, November 14th. The shares were sold at an average price of $194.81, for a total transaction of $3,506,580.00. Following the sale, the chief executive officer directly owned 485,958 shares of the company’s stock, valued at approximately $94,669,477.98. This represents a 3.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CTO Christopher Brian Slowe sold 14,000 shares of the stock in a transaction on Monday, November 10th. The shares were sold at an average price of $204.43, for a total transaction of $2,862,020.00. Following the completion of the sale, the chief technology officer owned 202,534 shares of the company’s stock, valued at approximately $41,404,025.62. This represents a 6.47% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 317,140 shares of company stock valued at $69,998,775. 34.25% of the stock is owned by insiders.

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.