Russell Investments Group Ltd. Cuts Stock Position in Reddit Inc. $RDDT

Russell Investments Group Ltd. lowered its position in Reddit Inc. (NYSE:RDDT) by 54.5% during the first quarter, Holdings Channel reports. The institutional investor owned 76,470 shares of the company’s stock after selling 91,455 shares during the quarter. Russell Investments Group Ltd.’s holdings in Reddit were worth $8,174,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Whale Rock Capital Management LLC acquired a new stake in Reddit in the 4th quarter worth approximately $204,054,000. Vanguard Group Inc. boosted its stake in Reddit by 11.1% in the 1st quarter. Vanguard Group Inc. now owns 10,198,552 shares of the company’s stock worth $1,069,828,000 after purchasing an additional 1,017,162 shares in the last quarter. Voya Investment Management LLC acquired a new stake in Reddit in the 4th quarter worth approximately $157,984,000. JPMorgan Chase & Co. boosted its stake in Reddit by 98.2% in the 1st quarter. JPMorgan Chase & Co. now owns 1,907,495 shares of the company’s stock worth $200,096,000 after purchasing an additional 944,847 shares in the last quarter. Finally, Cresset Asset Management LLC boosted its stake in Reddit by 159.6% in the 4th quarter. Cresset Asset Management LLC now owns 1,308,797 shares of the company’s stock worth $213,910,000 after purchasing an additional 804,591 shares in the last quarter.

Insider Activity at Reddit

In related news, CTO Christopher Brian Slowe sold 16,000 shares of the business’s stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $145.58, for a total value of $2,329,280.00. Following the completion of the sale, the chief technology officer owned 241,373 shares of the company’s stock, valued at approximately $35,139,081.34. The trade was a 6.22% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Michelle Marie Reynolds sold 3,500 shares of the business’s stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $202.60, for a total transaction of $709,100.00. Following the completion of the sale, the chief accounting officer directly owned 34,368 shares of the company’s stock, valued at approximately $6,962,956.80. The trade was a 9.24% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 366,568 shares of company stock worth $49,223,917 in the last quarter. 34.25% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on RDDT shares. Wells Fargo & Company lifted their target price on shares of Reddit from $115.00 to $118.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 1st. JPMorgan Chase & Co. lifted their price objective on shares of Reddit from $145.00 to $190.00 and gave the company a “neutral” rating in a research note on Friday, August 1st. Piper Sandler lifted their price objective 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. Raymond James Financial restated a “strong-buy” rating and set a $225.00 price objective (up from $175.00) on shares of Reddit in a research note on Friday, August 1st. Finally, Wall Street Zen upgraded shares of Reddit from a “hold” rating to a “buy” rating in a research note on Saturday, June 14th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $171.83.

Reddit Price Performance

RDDT opened at $227.9930 on Wednesday. The firm has a fifty day moving average price of $163.70 and a 200 day moving average price of $141.52. Reddit Inc. has a 1 year low of $52.39 and a 1 year high of $253.14. The stock has a market cap of $42.67 billion, a P/E ratio of 207.27, a P/E/G ratio of 3.83 and a beta of 2.30.

Reddit (NYSE:RDDT) last posted its earnings results on Thursday, July 31st. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.25. The firm had revenue of $499.63 million during the quarter, compared to analysts’ expectations of $424.07 million. Reddit had a net margin of 12.97% and a return on equity of 9.93%. The business’s revenue was up 77.9% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.06) EPS. Reddit has set its Q3 2025 guidance at EPS. Equities analysts expect 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.