Mitsubishi UFJ Trust & Banking Corp Grows Stock Position in Reddit Inc. $RDDT

Mitsubishi UFJ Trust & Banking Corp lifted its holdings in Reddit Inc. (NYSE:RDDT) by 545.0% during the 2nd quarter, Holdings Channel.com reports. The firm owned 190,248 shares of the company’s stock after buying an additional 160,754 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Reddit were worth $28,646,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. CWM LLC increased its holdings 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 buying an additional 128 shares during the last quarter. Stone House Investment Management LLC bought a new stake in shares of Reddit during the 1st quarter valued at $31,000. Financial Perspectives Inc bought a new position in Reddit in the 2nd quarter worth $34,000. Geneos Wealth Management Inc. lifted its position in Reddit by 344.6% during the first quarter. Geneos Wealth Management Inc. now owns 369 shares of the company’s stock valued at $39,000 after purchasing an additional 286 shares in the last quarter. Finally, Western Pacific Wealth Management LP bought a new stake in Reddit during the second quarter valued at about $60,000.

Insider Transactions at Reddit

In related news, COO Jennifer L. Wong sold 40,967 shares of the firm’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $220.38, for a total value 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO Christopher Brian Slowe sold 28,000 shares of the business’s stock in a transaction on Thursday, August 21st. The stock was 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 owned 222,534 shares in the company, valued at $48,721,593.96. This represents a 11.18% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 420,126 shares of company stock valued at $93,805,834 in the last ninety days. Corporate insiders own 34.25% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Truist Financial set a $270.00 price objective on Reddit in a research report on Friday, October 31st. JPMorgan Chase & Co. raised their target price on shares of Reddit from $190.00 to $227.00 and gave the stock a “neutral” rating in a research note on Friday, October 31st. Cannonball Research reiterated a “buy” rating on shares of Reddit in a research report on Tuesday, September 23rd. Weiss Ratings reissued a “hold (c-)” rating on shares of Reddit in a research note on Wednesday, October 8th. Finally, Oppenheimer lifted their target price on shares of Reddit from $215.00 to $300.00 and gave the company an “outperform” rating in a research note on Tuesday, September 16th. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, Reddit currently has an average rating of “Moderate Buy” and an average price target of $226.33.

Reddit Stock Performance

Shares of NYSE:RDDT opened at $189.51 on Friday. The firm has a market cap of $35.91 billion, a price-to-earnings ratio of 108.91, a P/E/G ratio of 2.23 and a beta of 2.14. The firm has a fifty day moving average price of $219.24 and a 200 day moving average price of $176.19. Reddit Inc. has a fifty-two week low of $79.75 and a fifty-two week high of $282.95.

Reddit (NYSE:RDDT) last released its quarterly earnings data on Thursday, October 30th. The company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.50 by $0.30. The business had revenue of $584.91 million during the quarter, compared to the consensus estimate of $546.65 million. Reddit had a net margin of 18.33% and a return on equity of 14.94%. The business’s revenue was up 67.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.16 EPS. Reddit has set its Q4 2025 guidance at EPS. As a group, research analysts predict that Reddit Inc. will post 1.12 earnings per share for the current year.

Reddit Company 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.