Aware Super Pty Ltd as trustee of Aware Super Invests $2.35 Million in Reddit Inc. $RDDT

Aware Super Pty Ltd as trustee of Aware Super purchased a new stake in shares of Reddit Inc. (NYSE:RDDT) in the 1st quarter, Holdings Channel reports. The fund purchased 17,477 shares of the company’s stock, valued at approximately $2,353,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in RDDT. Institute for Wealth Management LLC. increased its holdings in shares of Reddit by 6.1% in the 4th quarter. Institute for Wealth Management LLC. now owns 1,071 shares of the company’s stock worth $246,000 after purchasing an additional 62 shares in the last quarter. Roxbury Financial LLC raised its position in Reddit by 7.4% in the 4th quarter. Roxbury Financial LLC now owns 929 shares of the company’s stock worth $214,000 after buying an additional 64 shares during the last quarter. Florida Financial Advisors LLC raised its position in Reddit by 6.7% in the 4th quarter. Florida Financial Advisors LLC now owns 1,087 shares of the company’s stock worth $250,000 after buying an additional 68 shares during the last quarter. Diversified Trust Co lifted its stake in Reddit by 2.1% during the 1st quarter. Diversified Trust Co now owns 3,271 shares of the company’s stock valued at $440,000 after acquiring an additional 68 shares during the period. Finally, IFP Advisors Inc boosted its holdings in shares of Reddit by 9.9% during the 3rd quarter. IFP Advisors Inc now owns 796 shares of the company’s stock valued at $183,000 after acquiring an additional 72 shares during the last quarter.

Analyst Upgrades and Downgrades

RDDT has been the subject of a number of research analyst reports. Citizens Jmp reduced their price target on shares of Reddit from $250.00 to $240.00 and set a “market outperform” rating for the company in a research note on Friday, May 1st. Wells Fargo & Company raised their target price on shares of Reddit from $176.00 to $187.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 7th. Zacks Research lowered shares of Reddit from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 3rd. Cantor Fitzgerald increased their price target on Reddit from $170.00 to $180.00 and gave the company a “neutral” rating in a report on Friday, May 1st. Finally, Piper Sandler restated an “overweight” rating and issued a $215.00 price target on shares of Reddit in a research note on Thursday, July 9th. Nineteen equities research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. According to MarketBeat.com, Reddit presently has an average rating of “Moderate Buy” and an average target price of $231.79.

Insider Activity

In related news, COO Jennifer L. Wong sold 39,167 shares of the company’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $158.52, for a total transaction of $6,208,752.84. Following the sale, the chief operating officer owned 1,088,451 shares of the company’s stock, valued at $172,541,252.52. This represents a 3.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Steve Ladd Huffman sold 18,000 shares of the stock in a transaction on Monday, June 15th. The shares were sold at an average price of $178.26, for a total transaction of $3,208,680.00. Following the transaction, the chief executive officer owned 373,814 shares of the company’s stock, valued at $66,636,083.64. This trade represents a 4.59% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 169,141 shares of company stock worth $28,680,845. 28.48% of the stock is currently owned by insiders.

Reddit Stock Down 1.8%

Shares of Reddit stock opened at $181.91 on Friday. Reddit Inc. has a twelve month low of $119.27 and a twelve month high of $282.95. The business has a 50-day moving average price of $172.78 and a 200-day moving average price of $169.74. The firm has a market cap of $35.02 billion, a price-to-earnings ratio of 51.97 and a beta of 1.93.

Reddit (NYSE:RDDT) last announced its quarterly earnings results on Thursday, April 30th. The company reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.39. The company had revenue of $663.41 million during the quarter, compared to analyst estimates of $607.74 million. Reddit had a return on equity of 25.48% and a net margin of 28.60%.The firm’s revenue was up 69.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.13 earnings per share. On average, equities analysts expect that Reddit Inc. will post 4.83 EPS for the current fiscal year.

Reddit News Roundup

Here are the key news stories impacting Reddit this week:

• Positive Sentiment: Wedbush initiated coverage on Reddit with an Outperform rating and a $250 price target, signaling strong confidence in the company’s long-term monetization potential. Benzinga article on Wedbush coverage
• Positive Sentiment: Analysts highlighted Reddit’s AI initiative, including partnerships, platform upgrades, and ad tools, as a growing driver of revenue and engagement. Zacks article on Reddit AI initiative
• Positive Sentiment: Jefferies said Reddit could beat second-quarter revenue and EBITDA expectations thanks to strong ad checks and improving user growth, which would support the bullish earnings narrative. Proactive Investors article on earnings beat potential
• Positive Sentiment: Several reports suggested Reddit stock may be undervalued relative to its AI and ad-growth outlook, with one piece citing as much as 47% upside based on those themes. Yahoo Finance article on undervaluation
• Neutral Sentiment: One article noted that analysts are still mixed on Reddit and other communication-services names, suggesting the stock may remain volatile as sentiment varies. The Globe and Mail article on conflicted analysts
• Negative Sentiment: Reddit also saw coverage around a recent selloff and questions about why the stock fell more than the broader market, indicating some traders are still taking profits after a strong run. Zacks article on recent decline

Reddit Company Profile

Reddit is an online social news aggregation, discussion and content-sharing platform organized around user-created communities called “subreddits,” each focused on a particular topic or interest. Registered users submit links, text posts, images and video, and community members vote and comment to surface popular content. The site is accessed via its web platform and mobile apps for iOS and Android, and it supports live events such as Ask Me Anything (AMA) sessions and community-driven discussions.

Founded in 2005 by Steve Huffman and Alexis Ohanian, Reddit is headquartered in San Francisco and serves a global audience with particularly large user bases in the United States and other English-speaking markets.