DNB Asset Management AS Acquires 1,398 Shares of Reddit Inc. $RDDT

DNB Asset Management AS grew its holdings in shares of Reddit Inc. (NYSE:RDDT) by 12.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,006 shares of the company’s stock after acquiring an additional 1,398 shares during the quarter. DNB Asset Management AS’s holdings in Reddit were worth $1,958,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. CWM LLC raised its stake in Reddit by 100.0% in the first quarter. CWM LLC now owns 256 shares of the company’s stock valued at $27,000 after purchasing an additional 128 shares in the last quarter. Stone House Investment Management LLC bought a new position in shares of Reddit in the 1st quarter worth $31,000. Financial Perspectives Inc purchased a new stake in shares of Reddit during the 2nd quarter valued at $34,000. Geneos Wealth Management Inc. raised its position in shares of Reddit by 344.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 369 shares of the company’s stock valued at $39,000 after buying an additional 286 shares in the last quarter. Finally, Western Pacific Wealth Management LP bought a new stake in shares of Reddit during the 2nd quarter worth $60,000.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on RDDT shares. Bank of America raised their price target on Reddit from $180.00 to $210.00 and gave the company a “neutral” rating in a research report on Friday, October 31st. JPMorgan Chase & Co. raised their price objective on Reddit from $190.00 to $227.00 and gave the company a “neutral” rating in a report on Friday, October 31st. Jefferies Financial Group boosted their target price on Reddit from $230.00 to $300.00 and gave the stock a “buy” rating in a research report on Wednesday, September 10th. Raymond James Financial reiterated a “strong-buy” rating and set a $250.00 price target (up from $225.00) on shares of Reddit in a research report on Monday, October 20th. Finally, Wall Street Zen raised shares of Reddit from a “hold” rating to a “buy” rating in a research note on Sunday, September 7th. Three research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Reddit currently has an average rating of “Moderate Buy” and an average price target of $226.33.

Insider Activity at Reddit

In other Reddit news, CAO Michelle Marie Reynolds sold 3,215 shares of the stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of $186.44, for a total value of $599,404.60. Following the completion of the sale, the chief accounting officer owned 21,807 shares in the company, valued at approximately $4,065,697.08. This trade represents a 12.85% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Steve Ladd Huffman sold 18,000 shares of Reddit stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $194.81, for a total value of $3,506,580.00. Following the completion of the sale, the chief executive officer owned 485,958 shares in the company, valued at approximately $94,669,477.98. This represents a 3.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 424,370 shares of company stock valued at $89,848,384 in the last quarter. 34.25% of the stock is currently owned by company insiders.

Reddit Price Performance

Shares of RDDT stock opened at $218.80 on Wednesday. The business has a 50-day moving average of $209.62 and a 200 day moving average of $181.44. Reddit Inc. has a 1-year low of $79.75 and a 1-year high of $282.95. The stock has a market capitalization of $41.46 billion, a PE ratio of 125.74, a P/E/G ratio of 2.15 and a beta of 2.14.

Reddit (NYSE:RDDT) last announced its quarterly earnings data on Thursday, October 30th. The company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.30. Reddit had a return on equity of 14.94% and a net margin of 18.33%.The firm had revenue of $584.91 million during the quarter, compared to the consensus estimate of $546.65 million. During the same quarter in the previous year, the company posted $0.16 earnings per share. The business’s revenue was up 67.9% on a year-over-year basis. Reddit has set its Q4 2025 guidance at EPS. 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.