North Dakota State Investment Board bought a new stake in Reddit Inc. (NYSE:RDDT – Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 4,109 shares of the company’s stock, valued at approximately $945,000.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. iA Global Asset Management Inc. purchased a new position in shares of Reddit in the fourth quarter valued at $2,496,000. DNB Asset Management AS increased its position in shares of Reddit by 2.4% in the fourth quarter. DNB Asset Management AS now owns 19,440 shares of the company’s stock valued at $4,469,000 after buying an additional 449 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its position in shares of Reddit by 788.4% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 81,528 shares of the company’s stock valued at $18,741,000 after buying an additional 72,351 shares in the last quarter. Bessemer Group Inc. increased its position in shares of Reddit by 1,529,603.3% in the fourth quarter. Bessemer Group Inc. now owns 458,911 shares of the company’s stock valued at $105,489,000 after buying an additional 458,881 shares in the last quarter. Finally, AustralianSuper Pty Ltd increased its position in shares of Reddit by 1,429.6% in the fourth quarter. AustralianSuper Pty Ltd now owns 263,521 shares of the company’s stock valued at $60,576,000 after buying an additional 246,293 shares in the last quarter.
Analysts Set New Price Targets
A number of research firms recently commented on RDDT. JPMorgan Chase & Co. decreased their price objective on Reddit from $227.00 to $200.00 and set a “neutral” rating on the stock in a research note on Friday, February 6th. Truist Financial set a $265.00 target price on shares of Reddit in a research note on Friday, May 1st. The Goldman Sachs Group restated a “neutral” rating and issued a $200.00 target price on shares of Reddit in a report on Friday, May 1st. Bank of America reduced their target price on shares of Reddit from $205.00 to $175.00 and set a “neutral” rating on the stock in a report on Thursday, April 2nd. Finally, Oppenheimer restated an “outperform” rating and issued a $225.00 target price on shares of Reddit in a report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $228.61.
Key Headlines Impacting Reddit
Here are the key news stories impacting Reddit this week:
- Positive Sentiment: Analysts and commentary remain constructive on Reddit’s fundamentals, pointing to rapid revenue growth, strong margins, and a net cash balance sheet as support for longer-term upside. Article Title
- Positive Sentiment: ARPU rose 44% in the first quarter, helped by advertiser growth, AI-driven ad tools, and international expansion, which signals improving monetization for the platform. Article Title
- Positive Sentiment: One bullish note argues Reddit remains oversold and attractive after a steep year-to-date decline, citing strong user growth, high gross margins, and a Rule of 40 score above 100. Article Title
- Neutral Sentiment: Needham reportedly remains bullish on Reddit, reinforcing the view that Wall Street still sees growth potential despite near-term volatility. Article Title
- Negative Sentiment: CEO Steve Huffman sold 18,000 shares in a pre-arranged 10b5-1 plan, which can weigh on sentiment even though the sale was not necessarily a change in outlook. Article Title
- Negative Sentiment: Technical selling has pushed RDDT below major moving averages, and traders appear to be reducing exposure to richly valued growth stocks in the current market environment. Article Title
Reddit Price Performance
NYSE RDDT opened at $147.12 on Thursday. The firm has a market capitalization of $28.32 billion, a P/E ratio of 42.03 and a beta of 1.85. Reddit Inc. has a 1-year low of $94.89 and a 1-year high of $282.95. The business’s 50-day simple moving average is $147.25 and its 200-day simple moving average is $180.18.
Reddit (NYSE:RDDT – Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The company reported $1.01 EPS for the quarter, topping the consensus estimate of $0.62 by $0.39. The firm had revenue of $663.41 million for the quarter, compared to analyst estimates of $607.74 million. Reddit had a return on equity of 25.48% and a net margin of 28.60%.Reddit’s revenue for the quarter was up 69.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.13 EPS. On average, equities research analysts expect that Reddit Inc. will post 4.83 EPS for the current fiscal year.
Insider Buying and Selling at Reddit
In other Reddit news, CEO Steve Ladd Huffman sold 18,000 shares of the company’s stock in a transaction that occurred on Friday, February 27th. The stock was sold at an average price of $145.12, for a total value of $2,612,160.00. Following the transaction, the chief executive officer directly owned 411,195 shares of the company’s stock, valued at $59,672,618.40. This represents a 4.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Jennifer L. Wong sold 39,167 shares of the company’s stock in a transaction that occurred on Thursday, April 16th. The shares were sold at an average price of $161.47, for a total value of $6,324,295.49. Following the completion of the transaction, the chief operating officer directly owned 1,088,451 shares in the company, valued at approximately $175,752,182.97. The trade was a 3.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 326,144 shares of company stock valued at $48,788,412 in the last three months. Corporate insiders own 34.25% of the company’s stock.
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.
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