Sumitomo Mitsui Trust Group Inc. Has $53.11 Million Stock Position in Reddit Inc. $RDDT

Sumitomo Mitsui Trust Group Inc. lowered its stake in shares of Reddit Inc. (NYSE:RDDT) by 17.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 352,728 shares of the company’s stock after selling 74,020 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.19% of Reddit worth $53,110,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Financial Perspectives Inc acquired a new position in shares of Reddit during the second quarter valued at about $34,000. CWM LLC raised its holdings in shares of 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 acquired a new stake in shares of Reddit in the 1st quarter worth about $31,000. Geneos Wealth Management Inc. raised its holdings in shares of Reddit by 344.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 369 shares of the company’s stock worth $39,000 after acquiring an additional 286 shares during the last quarter. Finally, Western Pacific Wealth Management LP acquired a new stake in shares of Reddit in the 2nd quarter worth about $60,000.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on RDDT shares. Royal Bank Of Canada restated a “sector perform” rating on shares of Reddit in a report on Wednesday, October 1st. Cannonball Research restated a “buy” rating on shares of Reddit in a report on Tuesday, September 23rd. Zacks Research downgraded shares of Reddit from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 30th. Jefferies Financial Group upped their price objective on shares of Reddit from $230.00 to $300.00 and gave the stock a “buy” rating in a research report on Wednesday, September 10th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Reddit from $145.00 to $190.00 and gave the stock a “neutral” rating in a research report on Friday, August 1st. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $217.50.

Insider Activity at Reddit

In other news, CTO Christopher Brian Slowe sold 28,000 shares of the stock in a transaction that occurred on 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 transaction, the chief technology officer directly owned 222,534 shares of the company’s stock, valued at $48,721,593.96. This represents a 11.18% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Jennifer L. Wong sold 40,967 shares of the firm’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $220.38, for a total transaction of $9,028,307.46. Following the completion of the transaction, the chief operating officer directly owned 120,033 shares of the company’s stock, valued at approximately $26,452,872.54. This trade represents a 25.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 419,626 shares of company stock valued at $94,485,676 over the last quarter. 34.25% of the stock is currently owned by insiders.

Reddit Stock Up 2.4%

Reddit stock opened at $219.37 on Tuesday. Reddit Inc. has a twelve month low of $79.10 and a twelve month high of $282.95. The firm has a 50 day moving average price of $224.97 and a 200-day moving average price of $167.76. The company has a market capitalization of $41.06 billion, a P/E ratio of 199.42, a P/E/G ratio of 3.27 and a beta of 2.23.

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

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.