State of New Jersey Common Pension Fund D Raises Stake in Reddit Inc. $RDDT

State of New Jersey Common Pension Fund D boosted its holdings in shares of Reddit Inc. (NYSE:RDDT) by 4.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 24,225 shares of the company’s stock after buying an additional 1,094 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Reddit were worth $3,648,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Financial Perspectives Inc acquired a new stake in shares of Reddit in the second quarter worth $34,000. CWM LLC lifted its position in Reddit by 100.0% during 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. Stone House Investment Management LLC purchased a new stake in Reddit in the first quarter valued at $31,000. Geneos Wealth Management Inc. grew its position in 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 period. Finally, Western Pacific Wealth Management LP purchased a new position in shares of Reddit during the 2nd quarter valued at about $60,000.

Insider Activity

In related news, CTO Christopher Brian Slowe sold 28,000 shares of the firm’s stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $218.94, for a total transaction of $6,130,320.00. Following the completion of the sale, the chief technology officer directly owned 222,534 shares in the company, valued at approximately $48,721,593.96. This trade represents a 11.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Andrew Vollero sold 30,000 shares of the business’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $218.09, for a total transaction 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. The trade was a 9.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 419,626 shares of company stock worth $94,485,676. 34.25% of the stock is owned by insiders.

Reddit Stock Up 2.4%

Shares of NYSE RDDT opened at $219.37 on Tuesday. The firm has a 50-day simple moving average of $224.97 and a 200-day simple moving average of $167.76. The stock has a market capitalization of $41.06 billion, a price-to-earnings ratio of 199.42, a price-to-earnings-growth ratio of 3.27 and a beta of 2.23. Reddit Inc. has a 52 week low of $79.10 and a 52 week high of $282.95.

Reddit (NYSE:RDDT) last released its earnings results on Thursday, July 31st. The company reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.25. The business had revenue of $499.63 million for 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 business’s revenue was up 77.9% on a year-over-year basis. During the same period last year, the company posted ($0.06) EPS. Reddit has set its Q3 2025 guidance at EPS. As a group, equities research analysts expect that Reddit Inc. will post 1.12 EPS for the current year.

Wall Street Analysts Forecast Growth

RDDT has been the subject of several analyst reports. Piper Sandler reiterated an “overweight” rating and issued a $290.00 target price on shares of Reddit in a research note on Friday, October 3rd. Weiss Ratings restated a “hold (c-)” rating on shares of Reddit in a research report on Wednesday, October 8th. Citigroup upped their price target on Reddit from $220.00 to $250.00 and gave the stock a “buy” rating in a report on Tuesday, October 21st. Bank of America raised their price objective on Reddit from $130.00 to $150.00 and gave the company a “neutral” rating in a report on Wednesday, July 30th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and set a $236.00 target price on shares of Reddit in a research note on Tuesday, October 14th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Reddit currently has an average rating of “Moderate Buy” and a consensus target price 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.