Neuberger Berman Group LLC Has $54.21 Million Stock Holdings in Reddit Inc. $RDDT

Neuberger Berman Group LLC raised its holdings in Reddit Inc. (NYSE:RDDT) by 7.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 360,061 shares of the company’s stock after buying an additional 25,257 shares during the period. Neuberger Berman Group LLC owned about 0.19% of Reddit worth $54,214,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in RDDT. Resona Asset Management Co. Ltd. boosted its stake in Reddit by 0.3% during the 2nd quarter. Resona Asset Management Co. Ltd. now owns 20,201 shares of the company’s stock valued at $3,023,000 after purchasing an additional 65 shares during the last quarter. Congress Park Capital LLC raised its stake 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 worth $585,000 after purchasing an additional 76 shares during the last quarter. Platinum Investment Management Ltd. lifted its holdings in shares of Reddit by 4.3% in the second quarter. Platinum Investment Management Ltd. now owns 2,322 shares of the company’s stock valued at $350,000 after purchasing an additional 95 shares in the last quarter. CWM LLC lifted its holdings in shares of Reddit by 100.0% in the first quarter. CWM LLC now owns 256 shares of the company’s stock valued at $27,000 after purchasing an additional 128 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its position in shares of Reddit by 12.5% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 1,323 shares of the company’s stock valued at $139,000 after buying an additional 147 shares during the last quarter.

Analysts Set New Price Targets

A number of equities research analysts recently commented on RDDT shares. Wall Street Zen raised Reddit from a “hold” rating to a “buy” rating in a research report on Sunday, September 7th. Citigroup upped their target price on shares of Reddit from $250.00 to $265.00 and gave the stock a “buy” rating in a research note on Monday, November 3rd. Bank of America raised their price target on shares of Reddit from $180.00 to $210.00 and gave the company a “neutral” rating in a research report on Friday, October 31st. Roth Capital set a $210.00 price target on shares of Reddit in a report on Friday, October 31st. Finally, Sanford C. Bernstein increased their price objective on shares of Reddit from $190.00 to $210.00 and gave the company a “market perform” rating in a research note on Friday, October 31st. Three equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $226.33.

Reddit Stock Performance

Shares of RDDT stock opened at $207.46 on Friday. The firm has a market cap of $39.31 billion, a price-to-earnings ratio of 119.23, a P/E/G ratio of 2.29 and a beta of 2.14. Reddit Inc. has a 52 week low of $79.75 and a 52 week high of $282.95. The firm’s 50-day simple moving average is $207.17 and its two-hundred day simple moving average is $181.81.

Reddit (NYSE:RDDT) last released its earnings results on Thursday, October 30th. The company reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.30. The firm 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 company’s revenue was up 67.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.16 EPS. Reddit has set its Q4 2025 guidance at EPS. Analysts forecast that Reddit Inc. will post 1.12 earnings per share for the current year.

Insiders Place Their Bets

In other Reddit news, CAO Michelle Marie Reynolds sold 3,215 shares of the business’s stock in a transaction on Monday, November 24th. The stock was sold at an average price of $186.44, for a total value of $599,404.60. Following the sale, the chief accounting officer directly owned 21,807 shares in the company, valued at $4,065,697.08. The trade was a 12.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Jennifer L. Wong sold 63,427 shares of the company’s stock in a transaction on Monday, November 24th. The shares were sold at an average price of $192.72, for a total value of $12,223,651.44. Following the transaction, the chief operating officer directly owned 1,184,528 shares in the company, valued at $228,282,236.16. This represents a 5.08% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 406,370 shares of company stock valued at $85,827,004. Company insiders own 34.25% of the company’s stock.

About Reddit

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.