Ethic Inc. Invests $273,000 in Reddit Inc. $RDDT

Ethic Inc. acquired a new position in Reddit Inc. (NYSE:RDDT) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 1,909 shares of the company’s stock, valued at approximately $273,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Petrus Trust Company LTA purchased a new stake in Reddit during the 1st quarter valued at about $473,000. JPMorgan Chase & Co. boosted its holdings in Reddit by 98.2% during 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. Greycroft LP boosted its holdings in Reddit by 109.1% during the 1st quarter. Greycroft LP now owns 11,500 shares of the company’s stock valued at $1,206,000 after acquiring an additional 6,000 shares during the period. Think Investments LP boosted its holdings in Reddit by 10.3% during the 1st quarter. Think Investments LP now owns 268,000 shares of the company’s stock valued at $28,113,000 after acquiring an additional 25,000 shares during the period. Finally, Sender Co & Partners Inc. purchased a new stake in Reddit during the 1st quarter valued at about $1,367,000.

Reddit Stock Performance

Shares of NYSE:RDDT opened at $195.27 on Friday. Reddit Inc. has a 52-week low of $79.75 and a 52-week high of $282.95. The firm has a market capitalization of $36.55 billion, a P/E ratio of 177.52, a P/E/G ratio of 3.22 and a beta of 2.23. The stock has a 50 day moving average price of $224.05 and a 200-day moving average price of $169.49.

Reddit (NYSE:RDDT) last posted its quarterly earnings results on Thursday, October 30th. The company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.30. The company had revenue of $585.00 million for the quarter, compared to the consensus estimate of $546.65 million. Reddit had a return on equity of 9.93% and a net margin of 12.97%.The firm’s quarterly revenue was up 67.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.16 EPS. Reddit has set its Q4 2025 guidance at EPS. On average, equities analysts forecast that Reddit Inc. will post 1.12 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Steve Ladd Huffman sold 18,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $200.53, for a total value of $3,609,540.00. Following the sale, the chief executive officer owned 494,104 shares in the company, valued at $99,082,675.12. This represents a 3.51% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CTO Christopher Brian Slowe sold 14,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 22nd. The stock was sold at an average price of $197.10, for a total value of $2,759,400.00. Following the completion of the sale, the chief technology officer owned 204,534 shares in the company, valued at $40,313,651.40. The trade was a 6.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 419,626 shares of company stock worth $94,485,676 in the last 90 days. Insiders own 34.25% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on RDDT. Guggenheim increased their target price on Reddit from $165.00 to $215.00 and gave the company a “buy” rating in a report on Friday, August 1st. The Goldman Sachs Group reiterated a “neutral” rating and issued a $236.00 price objective on shares of Reddit in a report on Tuesday, October 14th. Argus initiated coverage on Reddit in a report on Monday, August 18th. They issued a “buy” rating and a $250.00 price objective for the company. JPMorgan Chase & Co. increased their price objective on Reddit from $145.00 to $190.00 and gave the stock a “neutral” rating in a report on Friday, August 1st. Finally, Wolfe Research upgraded Reddit to an “outperform” rating in a report on Sunday, August 3rd. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $217.50.

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.