KLP Kapitalforvaltning AS Buys 400 Shares of Reddit Inc. $RDDT

KLP Kapitalforvaltning AS grew its stake in Reddit Inc. (NYSE:RDDT) by 1.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,000 shares of the company’s stock after acquiring an additional 400 shares during the period. KLP Kapitalforvaltning AS’s holdings in Reddit were worth $3,764,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in RDDT. Rhumbline Advisers grew its stake in Reddit by 202.7% in the 1st quarter. Rhumbline Advisers now owns 13,682 shares of the company’s stock worth $1,435,000 after acquiring an additional 9,162 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in shares of Reddit by 152.0% during the first quarter. Farther Finance Advisors LLC now owns 620 shares of the company’s stock valued at $68,000 after purchasing an additional 374 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Reddit during the first quarter valued at approximately $1,206,000. Polianta Ltd bought a new position in shares of Reddit during the first quarter valued at approximately $996,000. Finally, Salem Investment Counselors Inc. bought a new position in shares of Reddit during the first quarter valued at approximately $559,000.

Insider Activity at Reddit

In other news, CTO Christopher Brian Slowe sold 14,000 shares of Reddit stock in a transaction on Wednesday, October 8th. The shares were sold at an average price of $200.81, for a total transaction of $2,811,340.00. Following the completion of the sale, the chief technology officer directly owned 206,534 shares in the company, valued at approximately $41,474,092.54. The trade was a 6.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Jennifer L. Wong sold 30,741 shares of Reddit stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $257.28, for a total transaction of $7,909,044.48. Following the sale, the chief operating officer owned 1,295,968 shares of the company’s stock, valued at $333,426,647.04. The trade was a 2.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 411,834 shares of company stock valued at $89,323,939. 34.25% of the stock is currently owned by corporate insiders.

Reddit Stock Down 6.2%

NYSE:RDDT opened at $198.67 on Friday. Reddit Inc. has a 52 week low of $69.74 and a 52 week high of $282.95. The firm has a 50 day moving average of $229.29 and a 200 day moving average of $159.25. The stock has a market capitalization of $37.18 billion, a price-to-earnings ratio of 180.61, a PEG ratio of 3.23 and a beta of 2.23.

Reddit (NYSE:RDDT) last posted its earnings results on Thursday, July 31st. The company reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.25. Reddit had a net margin of 12.97% and a return on equity of 9.93%. The company had revenue of $499.63 million during the quarter, compared to analysts’ expectations of $424.07 million. During the same quarter in the prior year, the company posted ($0.06) earnings per share. Reddit’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. As a group, analysts expect that Reddit Inc. will post 1.12 EPS for the current year.

Analyst Ratings Changes

RDDT has been the topic of a number of recent research reports. The Goldman Sachs Group reiterated a “neutral” rating and set a $212.00 price objective on shares of Reddit in a research note on Friday, August 1st. Royal Bank Of Canada reiterated a “sector perform” rating on shares of Reddit in a research note on Wednesday, October 1st. Argus initiated coverage on shares of Reddit in a research note on Monday, August 18th. They set a “buy” rating and a $250.00 price objective on the stock. Cannonball Research reiterated a “buy” rating on shares of Reddit in a research note on Tuesday, September 23rd. Finally, Morgan Stanley increased their price objective on shares of Reddit from $170.00 to $230.00 and gave the company an “overweight” rating in a research note on Friday, August 1st. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Reddit has an average rating of “Moderate Buy” and a consensus target price of $203.92.

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.