Rhumbline Advisers Increases Stake in Reddit Inc. $RDDT

Rhumbline Advisers increased its position in shares of Reddit Inc. (NYSE:RDDT) by 202.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 13,682 shares of the company’s stock after buying an additional 9,162 shares during the period. Rhumbline Advisers’ holdings in Reddit were worth $1,435,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in RDDT. Siren L.L.C. acquired a new position in Reddit during the 1st quarter worth approximately $2,465,000. Geneos Wealth Management Inc. lifted 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 worth $39,000 after purchasing an additional 286 shares during the last quarter. IFM Investors Pty Ltd acquired a new position in shares of Reddit during the first quarter worth $1,317,000. Focus Partners Wealth grew its stake in shares of Reddit by 40.8% during the first quarter. Focus Partners Wealth now owns 10,224 shares of the company’s stock worth $1,073,000 after purchasing an additional 2,965 shares in the last quarter. Finally, Flaharty Asset Management LLC purchased a new position in Reddit in the first quarter valued at $210,000.

Reddit Trading Down 1.8%

Shares of RDDT opened at $265.75 on Friday. Reddit Inc. has a twelve month low of $63.60 and a twelve month high of $282.95. The firm has a market capitalization of $49.74 billion, a P/E ratio of 241.59, a PEG ratio of 4.26 and a beta of 2.40. The firm’s 50-day moving average is $208.28 and its two-hundred day moving average is $149.41.

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

Insider Activity at Reddit

In other news, CFO Andrew Vollero sold 30,000 shares of the firm’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $218.09, for a total value of $6,542,700.00. Following the completion of the transaction, the chief financial officer owned 284,168 shares in the company, valued at $61,974,199.12. This trade represents a 9.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CTO Christopher Brian Slowe sold 14,000 shares of Reddit stock in a transaction on Monday, September 8th. The stock was sold at an average price of $236.51, for a total value of $3,311,140.00. Following the transaction, the chief technology officer directly owned 210,534 shares of the company’s stock, valued at $49,793,396.34. This trade represents a 6.24% decrease in their position. The disclosure for this sale can be found here. Insiders sold 360,126 shares of company stock valued at $73,529,359 in the last 90 days. 34.25% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have issued reports on RDDT shares. Needham & Company LLC lifted their price target on Reddit from $215.00 to $300.00 and gave the stock a “buy” rating in a report on Monday, September 15th. Morgan Stanley raised their target price on Reddit from $170.00 to $230.00 and gave the stock an “overweight” rating in a research report on Friday, August 1st. Jefferies Financial Group increased their price target on shares of Reddit from $230.00 to $300.00 and gave the company a “buy” rating in a research note on Wednesday, September 10th. Raymond James Financial reissued a “strong-buy” rating and set a $225.00 price objective (up previously from $175.00) on shares of Reddit in a report on Friday, August 1st. Finally, Bank of America upped their target price on shares of Reddit from $130.00 to $150.00 and gave the company a “neutral” rating in a report on Wednesday, July 30th. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Reddit currently has a consensus rating of “Moderate Buy” and a consensus target price of $197.88.

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.