Envestnet Asset Management Inc. Buys 78,988 Shares of Reddit Inc. $RDDT

Envestnet Asset Management Inc. raised its position in shares of Reddit Inc. (NYSE:RDDT) by 166.9% in the third quarter, according to its most recent filing with the SEC. The firm owned 126,328 shares of the company’s stock after purchasing an additional 78,988 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.07% of Reddit worth $29,054,000 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. Vanguard Group Inc. raised its stake in Reddit by 6.3% during the second quarter. Vanguard Group Inc. now owns 10,837,215 shares of the company’s stock worth $1,631,759,000 after buying an additional 638,663 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Reddit by 7.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,051,175 shares of the company’s stock worth $308,846,000 after acquiring an additional 143,680 shares during the period. State Street Corp raised its position in shares of Reddit by 138.5% in the 2nd quarter. State Street Corp now owns 2,030,139 shares of the company’s stock worth $305,678,000 after acquiring an additional 1,178,890 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Reddit by 72.1% in the 2nd quarter. Geode Capital Management LLC now owns 1,989,004 shares of the company’s stock worth $299,044,000 after acquiring an additional 833,245 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Reddit in the 2nd quarter valued at about $294,254,000.

Key Headlines Impacting Reddit

Here are the key news stories impacting Reddit this week:

• Positive Sentiment: New ad integration with Shirofune should make Reddit ads easier to buy and optimize alongside major channels, strengthening ad demand and advertiser ROI expectations. This supports revenue growth prospects. Read More.
• Positive Sentiment: Director Sarah E. Farrell bought a large stake (43,800 shares on 2/10 and 6,700 shares on 2/11), increasing her position materially — a strong insider vote of confidence that can be viewed as bullish by the market. Read More.
• Positive Sentiment: Sell‑side commentary (Needham) and coverage noting Reddit’s ad momentum and AI tools argue the company can sustain growth, which could support multiple expansion if execution continues. Read More.
• Neutral Sentiment: Reddit is a hot search topic among investors — increased attention can amplify volatility (both up and down) but does not itself change fundamentals. Read More.
• Negative Sentiment: CTO Christopher Slowe sold 11,464 shares (~6.5% reduction in his holding), which markets often view as a negative signal when insiders reduce exposure. Read More.
• Negative Sentiment: Multiple headlines cite that Reddit shares plunged and fell ~46% over the past month amid macro pressure and competition; that magnitude of recent drawdown can trigger momentum selling and dampen near‑term sentiment. Read More.
• Negative Sentiment: Coverage summarizing why shares plunged points to macro headwinds and competitive risks to ad monetization — factors that could pressure revenue growth and multiples if they persist. Read More.

Reddit Price Performance

Shares of NYSE RDDT opened at $130.95 on Friday. The company has a 50-day moving average price of $214.67 and a 200-day moving average price of $214.47. The stock has a market capitalization of $24.82 billion, a P/E ratio of 49.98, a P/E/G ratio of 1.03 and a beta of 2.17. Reddit Inc. has a 1 year low of $79.75 and a 1 year high of $282.95.

Reddit (NYSE:RDDT) last announced its quarterly earnings results on Thursday, February 5th. The company reported $1.24 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.28. The business had revenue of $725.61 million for the quarter, compared to analysts’ expectations of $665.80 million. Reddit had a net margin of 24.05% and a return on equity of 20.89%. The firm’s revenue for the quarter was up 69.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.36 EPS. As a group, equities research analysts anticipate that Reddit Inc. will post 1.12 earnings per share for the current fiscal year.

Insider Activity at Reddit

In other news, insider Benjamin Seong Lee sold 55,005 shares of the stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $221.21, for a total value of $12,167,656.05. Following the completion of the sale, the insider owned 62,608 shares in the company, valued at $13,849,515.68. This represents a 46.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CTO Christopher Brian Slowe sold 24,000 shares of the firm’s stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $192.72, for a total transaction of $4,625,280.00. Following the transaction, the chief technology officer directly owned 175,694 shares in the company, valued at $33,859,747.68. The trade was a 12.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 502,975 shares of company stock valued at $109,585,305 over the last 90 days. Corporate insiders own 34.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Citigroup raised their target price on Reddit from $250.00 to $265.00 and gave the stock a “buy” rating in a research note on Monday, November 3rd. The Goldman Sachs Group reduced their price objective on shares of Reddit from $236.00 to $206.00 and set a “neutral” rating for the company in a research report on Friday, February 6th. Guggenheim lifted their price objective on shares of Reddit from $245.00 to $255.00 and gave the company a “buy” rating in a research note on Friday, February 6th. Piper Sandler reiterated an “overweight” rating and set a $205.00 target price (down previously from $290.00) on shares of Reddit in a research report on Friday, February 6th. Finally, Robert W. Baird set a $200.00 price target on shares of Reddit in a report on Friday, February 6th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $240.93.

About Reddit

Reddit is an online social news aggregation, discussion and content-sharing platform organized around user-created communities called “subreddits,” each focused on a particular topic or interest. Registered users submit links, text posts, images and video, and community members vote and comment to surface popular content. The site is accessed via its web platform and mobile apps for iOS and Android, and it supports live events such as Ask Me Anything (AMA) sessions and community-driven discussions.

Founded in 2005 by Steve Huffman and Alexis Ohanian, Reddit is headquartered in San Francisco and serves a global audience with particularly large user bases in the United States and other English-speaking markets.