E Fund Management Hong Kong Co. Ltd. Takes $76,000 Position in Reddit Inc. $RDDT

E Fund Management Hong Kong Co. Ltd. acquired a new stake in Reddit Inc. (NYSE:RDDT) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 506 shares of the company’s stock, valued at approximately $76,000.

A number of other hedge funds have also modified their holdings of the company. Congress Park Capital LLC increased its holdings in shares of Reddit by 2.0% in the second quarter. Congress Park Capital LLC now owns 3,885 shares of the company’s stock valued at $585,000 after purchasing an additional 76 shares during the period. Platinum Investment Management Ltd. grew its holdings in Reddit by 4.3% during the second quarter. Platinum Investment Management Ltd. now owns 2,322 shares of the company’s stock worth $350,000 after acquiring an additional 95 shares during the period. Signaturefd LLC grew its holdings in Reddit by 3.5% during the first quarter. Signaturefd LLC now owns 2,859 shares of the company’s stock worth $300,000 after acquiring an additional 97 shares during the period. CWM LLC grew its holdings in Reddit by 100.0% during the first quarter. CWM LLC now owns 256 shares of the company’s stock worth $27,000 after acquiring an additional 128 shares during the period. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in Reddit by 12.5% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 1,323 shares of the company’s stock worth $139,000 after acquiring an additional 147 shares during the period.

Reddit Price Performance

NYSE RDDT opened at $202.43 on Thursday. The company has a market cap of $37.89 billion, a PE ratio of 184.03, a price-to-earnings-growth ratio of 3.14 and a beta of 2.23. The stock’s 50 day simple moving average is $228.07 and its 200-day simple moving average is $158.15. Reddit Inc. has a 1-year low of $69.30 and a 1-year 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, beating the consensus estimate of $0.20 by $0.25. The business had revenue of $499.63 million for the quarter, compared to the consensus estimate of $424.07 million. Reddit had a return on equity of 9.93% and a net margin of 12.97%.The business’s quarterly revenue was up 77.9% compared to the same quarter last year. During the same quarter last year, the business posted ($0.06) earnings per share. Reddit has set its Q3 2025 guidance at EPS. On average, equities research analysts anticipate that Reddit Inc. will post 1.12 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Reddit in a report on Wednesday. Sanford C. Bernstein increased their price target on Reddit from $130.00 to $150.00 and gave the stock a “market perform” rating in a research report on Tuesday, July 22nd. Morgan Stanley increased their price target on Reddit from $170.00 to $230.00 and gave the stock an “overweight” rating in a research report on Friday, August 1st. Wolfe Research upgraded Reddit to an “outperform” rating in a research report on Sunday, August 3rd. Finally, Argus assumed coverage on Reddit in a research report on Monday, August 18th. They set a “buy” rating and a $250.00 price target on the stock. Two 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 given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $203.92.

Insider Transactions at Reddit

In related news, CEO Steve Ladd Huffman sold 18,000 shares of the stock in a transaction that occurred on Tuesday, September 30th. The stock was sold at an average price of $229.10, for a total value of $4,123,800.00. Following the completion of the sale, the chief executive officer owned 494,104 shares of the company’s stock, valued at approximately $113,199,226.40. This trade represents a 3.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Andrew Vollero sold 30,000 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $218.09, for a total value of $6,542,700.00. Following the completion of the sale, the chief financial officer directly owned 284,168 shares of the company’s stock, valued at approximately $61,974,199.12. This represents a 9.55% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 397,834 shares of company stock valued at $86,512,599. 34.25% of the stock is currently owned by company insiders.

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.