Ardmore Road Asset Management LP Buys Shares of 180,000 Reddit Inc. $RDDT

Ardmore Road Asset Management LP bought a new stake in shares of Reddit Inc. (NYSE:RDDT) in the 1st quarter, HoldingsChannel reports. The firm bought 180,000 shares of the company’s stock, valued at approximately $18,882,000. Reddit accounts for about 1.9% of Ardmore Road Asset Management LP’s investment portfolio, making the stock its 23rd largest position.

Several other hedge funds have also bought and sold shares of the stock. CWM LLC raised its stake in shares of 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 in the last quarter. Fourth Dimension Wealth LLC purchased a new position in shares of Reddit during the fourth quarter worth approximately $49,000. Chelsea Counsel Co. purchased a new position in shares of Reddit during the fourth quarter worth approximately $49,000. Stone House Investment Management LLC purchased a new position in shares of Reddit during the first quarter worth approximately $31,000. Finally, Quarry LP purchased a new position in shares of Reddit during the fourth quarter worth approximately $59,000.

Insider Transactions at Reddit

In other news, insider Benjamin Seong Lee sold 6,426 shares of the firm’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $220.28, for a total value of $1,415,519.28. Following the completion of the sale, the insider directly owned 83,445 shares of the company’s stock, valued at approximately $18,381,264.60. This trade represents a 7.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Michelle Marie Reynolds sold 3,214 shares of the firm’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $217.69, for a total transaction of $699,655.66. Following the completion of the sale, the chief accounting officer directly owned 28,088 shares of the company’s stock, valued at approximately $6,114,476.72. This represents a 10.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 468,777 shares of company stock worth $78,225,996. 34.25% of the stock is owned by corporate insiders.

Reddit Stock Down 0.1%

Shares of NYSE RDDT opened at $225.28 on Friday. Reddit Inc. has a 52 week low of $55.25 and a 52 week high of $253.14. The firm’s fifty day moving average is $178.21 and its 200 day moving average is $142.18. The company has a market cap of $42.16 billion, a price-to-earnings ratio of 204.80, a PEG ratio of 3.58 and a beta of 2.30.

Reddit (NYSE:RDDT) last released its quarterly 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. Reddit had a net margin of 12.97% and a return on equity of 9.93%. The business had revenue of $499.63 million for the quarter, compared to analysts’ expectations of $424.07 million. During the same quarter in the previous year, the business posted ($0.06) earnings per share. The firm’s revenue for the quarter was up 77.9% compared to the same quarter last year. Reddit has set its Q3 2025 guidance at EPS. Equities research analysts anticipate that Reddit Inc. will post 1.12 earnings per share for the current year.

Wall Street Analysts Forecast Growth

RDDT has been the topic of several research reports. Citigroup lifted their price target on shares of Reddit from $158.00 to $163.00 and gave the stock a “buy” rating in a research note on Tuesday, June 24th. Roth Mkm lifted their price target on shares of Reddit from $120.00 to $130.00 and gave the stock a “neutral” rating in a research note on Friday, May 2nd. Raymond James Financial reissued a “strong-buy” rating and set a $225.00 price target (up from $175.00) on shares of Reddit in a research note on Friday, August 1st. Piper Sandler lifted their target price on shares of Reddit from $150.00 to $210.00 and gave the stock an “overweight” rating in a research note on Friday, August 1st. Finally, JPMorgan Chase & Co. lifted their target price on shares of Reddit from $145.00 to $190.00 and gave the stock a “neutral” rating in a research note on Friday, August 1st. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Reddit presently has a consensus rating of “Moderate Buy” and an average price target of $175.38.

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.