Reddit Inc. $RDDT Shares Bought by State of New Jersey Common Pension Fund D

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

A number of other institutional investors and hedge funds have also made changes to their positions in RDDT. Janney Montgomery Scott LLC lifted its holdings in shares of Reddit by 4.5% in the 1st quarter. Janney Montgomery Scott LLC now owns 9,183 shares of the company’s stock worth $963,000 after acquiring an additional 397 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its stake in Reddit by 2.7% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 14,683 shares of the company’s stock worth $1,540,000 after purchasing an additional 383 shares in the last quarter. Asset Management One Co. Ltd. acquired a new position in Reddit during the first quarter worth $2,735,000. Robeco Institutional Asset Management B.V. purchased a new position in shares of Reddit during the first quarter worth $1,209,000. Finally, Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Reddit by 0.7% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 426,748 shares of the company’s stock valued at $44,766,000 after buying an additional 3,112 shares in the last quarter.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on RDDT shares. Citigroup increased their target price on Reddit from $220.00 to $250.00 and gave the stock a “buy” rating in a research note on Tuesday, October 21st. Roth Capital set a $185.00 price target on shares of Reddit and gave the stock a “neutral” rating in a research report on Thursday. Cannonball Research reissued a “buy” rating on shares of Reddit in a research note on Tuesday, September 23rd. 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. Finally, Wall Street Zen upgraded shares of Reddit from a “hold” rating to a “buy” rating in a report on Sunday, September 7th. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $217.50.

Insiders Place Their Bets

In other news, CTO Christopher Brian Slowe sold 14,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 22nd. The shares were sold at an average price of $197.10, for a total transaction of $2,759,400.00. Following the completion of the sale, the chief technology officer owned 204,534 shares in the company, valued at approximately $40,313,651.40. The trade was a 6.41% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Jennifer L. Wong sold 30,659 shares of the company’s stock in a transaction on Thursday, October 23rd. The shares were sold at an average price of $201.82, for a total transaction of $6,187,599.38. Following the completion of the transaction, the chief operating officer owned 1,295,968 shares of the company’s stock, valued at approximately $261,552,261.76. The trade was a 2.31% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 419,626 shares of company stock valued at $94,485,676. 34.25% of the stock is owned by corporate insiders.

Reddit Price Performance

Reddit stock opened at $219.37 on Tuesday. The stock has a market cap of $41.06 billion, a PE ratio of 199.42, a P/E/G ratio of 3.27 and a beta of 2.23. The stock’s fifty day moving average is $224.97 and its two-hundred day moving average is $167.76. Reddit Inc. has a 1-year low of $79.10 and a 1-year high of $282.95.

Reddit (NYSE:RDDT) last released its quarterly earnings data on Thursday, July 31st. The company reported $0.45 EPS for the quarter, beating analysts’ consensus estimates 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 revenue for the quarter was up 77.9% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.06) EPS. Reddit has set its Q3 2025 guidance at EPS. On average, research analysts expect that Reddit Inc. will post 1.12 earnings per share for the current fiscal 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.