Fishman Jay A Ltd. MI Grows Stake in Reddit Inc. $RDDT

Fishman Jay A Ltd. MI boosted its position in shares of Reddit Inc. (NYSE:RDDT) by 27.3% during the 2nd quarter, HoldingsChannel reports. The firm owned 124,255 shares of the company’s stock after buying an additional 26,625 shares during the period. Reddit comprises about 1.8% of Fishman Jay A Ltd. MI’s investment portfolio, making the stock its 15th largest holding. Fishman Jay A Ltd. MI’s holdings in Reddit were worth $18,709,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Valeo Financial Advisors LLC purchased a new position in shares of Reddit in the 2nd quarter valued at $252,000. DAVENPORT & Co LLC purchased a new position in shares of Reddit in the 2nd quarter valued at $4,066,000. Highland Capital Management LLC purchased a new position in shares of Reddit in the 2nd quarter valued at $753,000. QRG Capital Management Inc. increased its holdings in shares of Reddit by 19.7% in the 2nd quarter. QRG Capital Management Inc. now owns 4,203 shares of the company’s stock valued at $633,000 after acquiring an additional 693 shares during the period. Finally, Fortis Capital Advisors LLC acquired a new stake in shares of Reddit in the 2nd quarter worth $367,000.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Zacks Research cut Reddit from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 30th. Jefferies Financial Group raised their price objective on Reddit from $230.00 to $300.00 and gave the stock a “buy” rating in a research report on Wednesday, September 10th. Wells Fargo & Company lifted their price target on Reddit from $115.00 to $118.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 1st. Robert W. Baird lifted their price target on Reddit from $177.00 to $240.00 and gave the stock a “neutral” rating in a research report on Thursday, September 25th. Finally, Guggenheim boosted their price objective on Reddit from $165.00 to $215.00 and gave the company a “buy” rating in a report on Friday, August 1st. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $201.58.

Reddit Price Performance

RDDT stock opened at $207.24 on Monday. The business has a 50 day simple moving average of $224.76 and a 200-day simple moving average of $156.89. The firm has a market capitalization of $38.79 billion, a PE ratio of 188.40, a price-to-earnings-growth ratio of 3.26 and a beta of 2.23. Reddit Inc. has a 1 year low of $68.80 and a 1 year high of $282.95.

Reddit (NYSE:RDDT) last issued its quarterly earnings data on Thursday, July 31st. The company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.25. The company had revenue of $499.63 million during the quarter, compared to analyst estimates of $424.07 million. Reddit had a return on equity of 9.93% and a net margin of 12.97%.The firm’s revenue for the quarter was up 77.9% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.06) earnings per share. Reddit has set its Q3 2025 guidance at EPS. On average, equities research analysts expect that Reddit Inc. will post 1.12 EPS for the current year.

Insider Transactions at Reddit

In related news, CEO Steve Ladd Huffman sold 18,000 shares of Reddit stock in a transaction on Friday, August 29th. The stock was sold at an average price of $223.41, for a total value of $4,021,380.00. Following the completion of the transaction, the chief executive officer directly owned 494,104 shares in the company, valued at approximately $110,387,774.64. This trade represents a 3.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Jennifer L. Wong sold 40,967 shares of Reddit stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $220.38, for a total value of $9,028,307.46. Following the completion of the transaction, the chief operating officer owned 120,033 shares of the company’s stock, valued at approximately $26,452,872.54. This trade represents a 25.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 397,834 shares of company stock valued at $86,512,599. Corporate insiders own 34.25% of the company’s stock.

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.