Amundi Cuts Stake in Reddit Inc. $RDDT

Amundi cut its stake in Reddit Inc. (NYSE:RDDT) by 54.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 60,506 shares of the company’s stock after selling 71,306 shares during the quarter. Amundi’s holdings in Reddit were worth $5,863,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. CWM LLC raised its position 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 during the period. Fourth Dimension Wealth LLC purchased a new position in Reddit in the fourth quarter valued at about $49,000. Chelsea Counsel Co. purchased a new position in Reddit in the fourth quarter valued at about $49,000. Stone House Investment Management LLC purchased a new position in Reddit in the first quarter valued at about $31,000. Finally, CoreCap Advisors LLC raised its position in Reddit by 3,500.0% in the fourth quarter. CoreCap Advisors LLC now owns 360 shares of the company’s stock valued at $59,000 after purchasing an additional 350 shares during the period.

Reddit Stock Performance

NYSE:RDDT opened at $259.04 on Thursday. The company has a market capitalization of $48.48 billion, a price-to-earnings ratio of 235.49, a price-to-earnings-growth ratio of 3.81 and a beta of 2.40. Reddit Inc. has a one year low of $55.84 and a one year high of $261.13. The stock has a 50-day simple moving average of $192.30 and a 200 day simple moving average of $144.50.

Reddit (NYSE:RDDT) last posted its quarterly earnings results on Thursday, July 31st. The company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.25. The business had revenue of $499.63 million during the quarter, compared to the consensus estimate of $424.07 million. Reddit had a return on equity of 9.93% and a net margin of 12.97%.The company’s revenue for the quarter was up 77.9% compared to the same quarter last year. During the same period last year, the firm earned ($0.06) earnings per share. Reddit has set its Q3 2025 guidance at EPS. On average, equities research analysts forecast that Reddit Inc. will post 1.12 EPS for the current fiscal year.

Insider Buying and Selling at Reddit

In other Reddit news, COO Jennifer L. Wong sold 40,967 shares of the firm’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $220.38, for a total value of $9,028,307.46. Following the transaction, the chief operating officer owned 120,033 shares of the company’s stock, valued at $26,452,872.54. This trade represents a 25.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO Christopher Brian Slowe sold 28,000 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the chief technology officer directly owned 222,534 shares in the company, valued at $48,721,593.96. This represents a 11.18% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 530,777 shares of company stock worth $92,101,216. Insiders own 34.25% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on the company. Robert W. Baird raised their price objective on Reddit from $120.00 to $151.00 and gave the company a “neutral” rating in a research report on Tuesday, July 8th. Citigroup raised their price objective on Reddit from $158.00 to $163.00 and gave the company a “buy” rating in a research report on Tuesday, June 24th. Wells Fargo & Company raised their price objective on Reddit from $115.00 to $118.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 1st. Guggenheim raised their target price on Reddit from $165.00 to $215.00 and gave the company a “buy” rating in a research note on Friday, August 1st. Finally, JPMorgan Chase & Co. raised their target price on Reddit from $145.00 to $190.00 and gave the company a “neutral” rating in a research note on Friday, August 1st. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Reddit currently has a consensus rating of “Moderate Buy” and a consensus target price of $180.58.

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.