EFG Asset Management Americas Corp. Has $2.15 Million Position in Reddit Inc. $RDDT

EFG Asset Management Americas Corp. increased its holdings in shares of Reddit Inc. (NYSE:RDDT) by 92.4% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 14,292 shares of the company’s stock after purchasing an additional 6,864 shares during the period. EFG Asset Management Americas Corp.’s holdings in Reddit were worth $2,152,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Teacher Retirement System of Texas raised its stake in Reddit by 880.5% during the 2nd quarter. Teacher Retirement System of Texas now owns 94,676 shares of the company’s stock valued at $14,255,000 after purchasing an additional 85,020 shares during the last quarter. Petrus Trust Company LTA bought a new position in shares of Reddit during the 1st quarter worth about $473,000. JPMorgan Chase & Co. raised its position in shares of Reddit by 98.2% during the first quarter. JPMorgan Chase & Co. now owns 1,907,495 shares of the company’s stock valued at $200,096,000 after buying an additional 944,847 shares during the last quarter. Greycroft LP lifted its stake in shares of Reddit by 109.1% in the first quarter. Greycroft LP now owns 11,500 shares of the company’s stock valued at $1,206,000 after buying an additional 6,000 shares during the period. Finally, Think Investments LP grew its position in Reddit by 10.3% during the first quarter. Think Investments LP now owns 268,000 shares of the company’s stock worth $28,113,000 after buying an additional 25,000 shares in the last quarter.

Insider Activity

In related news, CEO Steve Ladd Huffman sold 18,000 shares of the firm’s stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $194.81, for a total value of $3,506,580.00. Following the completion of the sale, the chief executive officer owned 485,958 shares of the company’s stock, valued at $94,669,477.98. This trade represents a 3.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CTO Christopher Brian Slowe sold 14,000 shares of the company’s stock in a transaction on Monday, November 10th. The stock was sold at an average price of $204.43, for a total value of $2,862,020.00. Following the transaction, the chief technology officer directly owned 202,534 shares in the company, valued at approximately $41,404,025.62. This represents a 6.47% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 377,747 shares of company stock valued at $83,344,757 over the last three months. 34.25% of the stock is owned by insiders.

Reddit Stock Performance

Shares of RDDT opened at $188.10 on Thursday. The company has a market cap of $35.64 billion, a price-to-earnings ratio of 108.10, a PEG ratio of 2.05 and a beta of 2.14. The stock has a fifty day moving average price of $214.94 and a two-hundred day moving average price of $178.56. Reddit Inc. has a 52-week low of $79.75 and a 52-week high of $282.95.

Reddit (NYSE:RDDT) last released its quarterly earnings results on Thursday, October 30th. The company reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.30. Reddit had a return on equity of 14.94% and a net margin of 18.33%.The business had revenue of $584.91 million during the quarter, compared to analysts’ expectations of $546.65 million. During the same period in the previous year, the business posted $0.16 earnings per share. The firm’s revenue for the quarter was up 67.9% compared to the same quarter last year. Reddit has set its Q4 2025 guidance at EPS. As a group, research analysts predict that Reddit Inc. will post 1.12 EPS for the current fiscal year.

Wall Street Analyst Weigh In

RDDT has been the subject of several recent research reports. Zacks Research raised Reddit from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 29th. Morgan Stanley restated an “overweight” rating and set a $250.00 price objective on shares of Reddit in a research report on Friday, October 31st. Oppenheimer raised their target price on Reddit from $215.00 to $300.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 16th. Guggenheim lifted their price target on shares of Reddit from $165.00 to $215.00 and gave the stock a “buy” rating in a research note on Friday, August 1st. Finally, Piper Sandler reissued an “overweight” rating and issued a $290.00 price target on shares of Reddit in a report on Friday, October 3rd. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Reddit currently has a consensus rating of “Moderate Buy” and an average price target of $226.33.

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.