Caisse DE Depot ET Placement DU Quebec Invests $6.35 Million in Reddit Inc. $RDDT

Caisse DE Depot ET Placement DU Quebec acquired a new position in shares of Reddit Inc. (NYSE:RDDT) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 60,500 shares of the company’s stock, valued at approximately $6,346,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in RDDT. Whale Rock Capital Management LLC bought a new stake in Reddit in the fourth quarter valued at about $204,054,000. Vanguard Group Inc. increased its stake in Reddit by 11.1% in the first quarter. Vanguard Group Inc. now owns 10,198,552 shares of the company’s stock valued at $1,069,828,000 after acquiring an additional 1,017,162 shares during the period. JPMorgan Chase & Co. increased its stake in Reddit by 98.2% in the first quarter. JPMorgan Chase & Co. now owns 1,907,495 shares of the company’s stock valued at $200,096,000 after acquiring an additional 944,847 shares during the period. Cresset Asset Management LLC increased its stake in Reddit by 159.6% in the fourth quarter. Cresset Asset Management LLC now owns 1,308,797 shares of the company’s stock valued at $213,910,000 after acquiring an additional 804,591 shares during the period. Finally, Nuveen Asset Management LLC increased its stake in Reddit by 424.6% in the fourth quarter. Nuveen Asset Management LLC now owns 932,991 shares of the company’s stock valued at $152,488,000 after acquiring an additional 755,152 shares during the period.

Analysts Set New Price Targets

A number of research firms recently weighed in on RDDT. Piper Sandler upped their target price on shares of Reddit from $150.00 to $210.00 and gave the company an “overweight” rating in a research note on Friday, August 1st. Needham & Company LLC boosted their price target on shares of Reddit from $165.00 to $215.00 and gave the company a “buy” rating in a research report on Friday, August 1st. Royal Bank Of Canada restated a “sector perform” rating and issued a $210.00 price target on shares of Reddit in a research report on Friday, August 22nd. JPMorgan Chase & Co. boosted their price target on shares of Reddit from $145.00 to $190.00 and gave the company a “neutral” rating in a research report on Friday, August 1st. Finally, Argus started coverage on shares of Reddit in a research report on Monday, August 18th. They issued a “buy” rating and a $250.00 price target on the stock. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $175.38.

Insider Buying and Selling

In other Reddit news, CTO Christopher Brian Slowe sold 10,000 shares of the stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $220.25, for a total value of $2,202,500.00. Following the sale, the chief technology officer directly owned 212,534 shares in the company, valued at approximately $46,810,613.50. This trade represents a 4.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Benjamin Seong Lee sold 6,426 shares of the firm’s stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $220.28, for a total transaction of $1,415,519.28. Following the sale, the insider owned 83,445 shares in the company, valued at approximately $18,381,264.60. The trade was a 7.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 468,777 shares of company stock valued at $78,225,996. 34.25% of the stock is owned by company insiders.

Reddit Trading Up 7.0%

Shares of RDDT stock opened at $225.79 on Friday. Reddit Inc. has a 1 year low of $55.25 and a 1 year high of $253.14. The firm’s 50 day moving average is $176.49 and its 200-day moving average is $142.10. The firm has a market capitalization of $42.26 billion, a price-to-earnings ratio of 205.26, a PEG ratio of 3.35 and a beta of 2.30.

Reddit (NYSE:RDDT) last announced its earnings results on Thursday, July 31st. The company reported $0.45 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analyst estimates of $424.07 million. During the same period in the prior year, the business earned ($0.06) earnings per share. Reddit’s quarterly revenue was up 77.9% on a year-over-year basis. Reddit has set its Q3 2025 guidance at EPS. On average, equities research analysts forecast 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.