IFM Investors Pty Ltd Buys 915 Shares of Reddit Inc. $RDDT

IFM Investors Pty Ltd increased its stake in shares of Reddit Inc. (NYSE:RDDT) by 7.3% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 13,473 shares of the company’s stock after acquiring an additional 915 shares during the quarter. IFM Investors Pty Ltd’s holdings in Reddit were worth $2,029,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of RDDT. Alliancebernstein L.P. boosted its position 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 acquiring an additional 2,871,232 shares during the last quarter. Vanguard Group Inc. lifted its position in Reddit by 11.1% during 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. lifted its position in Reddit by 98.2% during the first quarter. JPMorgan Chase & Co. now owns 1,907,495 shares of the company’s stock valued at $200,096,000 after purchasing an additional 944,847 shares during the last quarter. Scge Management L.P. lifted its position in Reddit by 121.1% during the first quarter. Scge Management L.P. now owns 1,612,000 shares of the company’s stock valued at $169,099,000 after purchasing an additional 883,000 shares during the last quarter. Finally, Baillie Gifford & Co. bought a new position in Reddit during the first quarter valued at $78,675,000.

Reddit Stock Performance

Shares of NYSE RDDT opened at $257.52 on Tuesday. The firm has a market cap of $48.20 billion, a PE ratio of 234.11, a PEG ratio of 4.16 and a beta of 2.38. The firm has a fifty day moving average of $210.50 and a 200 day moving average of $150.13. Reddit Inc. has a one year low of $63.60 and a one year high of $282.95.

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

Analysts Set New Price Targets

Several research firms have commented on RDDT. Wolfe Research upgraded shares of Reddit to an “outperform” rating in a research report on Sunday, August 3rd. Needham & Company LLC raised their price target on shares of Reddit from $215.00 to $300.00 and gave the stock a “buy” rating in a research note on Monday, September 15th. Sanford C. Bernstein raised their target price on shares of Reddit from $130.00 to $150.00 and gave the company a “market perform” rating in a research report on Tuesday, July 22nd. Argus initiated coverage on shares of Reddit in a research report on Monday, August 18th. They set a “buy” rating and a $250.00 target price on the stock. Finally, Robert W. Baird lifted their price objective on shares of Reddit from $120.00 to $151.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 8th. Two equities research 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 stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $197.88.

Insider Buying and Selling at Reddit

In other news, COO Jennifer L. Wong sold 30,806 shares of the company’s stock in a transaction on Monday, August 25th. The shares were sold at an average price of $218.55, for a total transaction of $6,732,651.30. Following the completion of the sale, the chief operating officer owned 1,326,709 shares of the company’s stock, valued at $289,952,251.95. This represents a 2.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Steve Ladd Huffman sold 18,000 shares of the company’s stock in a transaction on Monday, September 15th. The stock was sold at an average price of $261.22, for a total transaction of $4,701,960.00. Following the sale, the chief executive officer directly owned 494,104 shares of the company’s stock, valued at $129,069,846.88. The trade was a 3.51% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 344,126 shares of company stock valued at $71,345,839. 34.25% of the stock is owned by company 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.