Neuberger Berman Group LLC Buys 25,257 Shares of Reddit Inc. $RDDT

Neuberger Berman Group LLC increased its stake in Reddit Inc. (NYSE:RDDT) by 7.5% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 360,061 shares of the company’s stock after purchasing an additional 25,257 shares during the quarter. Neuberger Berman Group LLC’s holdings in Reddit were worth $54,214,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Reddit by 6.3% during the second quarter. Vanguard Group Inc. now owns 10,837,215 shares of the company’s stock valued at $1,631,759,000 after buying an additional 638,663 shares during the period. Alliancebernstein L.P. grew its stake in Reddit by 103.0% during the first quarter. Alliancebernstein L.P. now owns 5,659,990 shares of the company’s stock valued at $593,733,000 after acquiring an additional 2,871,232 shares in the last quarter. T. Rowe Price Investment Management Inc. increased its holdings in Reddit by 10.6% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 4,073,939 shares of the company’s stock worth $427,357,000 after acquiring an additional 389,761 shares during the period. JPMorgan Chase & Co. lifted its stake in Reddit by 7.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,051,175 shares of the company’s stock worth $308,846,000 after purchasing an additional 143,680 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Reddit by 72.1% in the 2nd quarter. Geode Capital Management LLC now owns 1,989,004 shares of the company’s stock valued at $299,044,000 after purchasing an additional 833,245 shares during the period.

Analyst Upgrades and Downgrades

RDDT has been the topic of several research analyst reports. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Reddit in a report on Tuesday. Wells Fargo & Company upped their target price on Reddit from $155.00 to $174.00 and gave the stock a “cautious” rating in a research note on Tuesday, October 7th. Cannonball Research reiterated a “buy” rating on shares of Reddit in a research report on Tuesday, September 23rd. Needham & Company LLC restated a “buy” rating and issued a $300.00 price objective on shares of Reddit in a research report on Friday, October 31st. Finally, Citigroup lifted their target price on shares of Reddit from $250.00 to $265.00 and gave the company a “buy” rating in a research report on Monday, November 3rd. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, nine have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Reddit currently has a consensus rating of “Moderate Buy” and a consensus target price of $226.33.

Insider Buying and Selling

In other news, CEO Steve Ladd Huffman sold 18,000 shares of Reddit stock in a transaction dated Tuesday, September 30th. The stock was sold at an average price of $229.10, for a total value of $4,123,800.00. Following the transaction, the chief executive officer owned 494,104 shares in the company, valued at approximately $113,199,226.40. The trade was a 3.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Christopher Brian Slowe sold 24,000 shares of the business’s stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $192.72, for a total value of $4,625,280.00. Following the completion of the sale, the chief technology officer directly owned 175,694 shares of the company’s stock, valued at approximately $33,859,747.68. This trade represents a 12.02% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 406,370 shares of company stock valued at $85,827,004 over the last three months. 34.25% of the stock is owned by corporate insiders.

Reddit Stock Performance

RDDT stock opened at $207.46 on Friday. The company has a market capitalization of $39.31 billion, a PE ratio of 119.23, a price-to-earnings-growth ratio of 2.29 and a beta of 2.14. Reddit Inc. has a one year low of $79.75 and a one year high of $282.95. The company’s 50 day moving average price is $207.17 and its two-hundred day moving average price is $181.81.

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

Reddit 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.