Keybank National Association OH Has $3.09 Million Stake in Reddit Inc. $RDDT

Keybank National Association OH decreased its position in Reddit Inc. (NYSE:RDDT) by 80.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,509 shares of the company’s stock after selling 86,077 shares during the quarter. Keybank National Association OH’s holdings in Reddit were worth $3,088,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of RDDT. Alliancebernstein L.P. raised its stake in shares of Reddit by 103.0% in the 1st quarter. Alliancebernstein L.P. now owns 5,659,990 shares of the company’s stock valued at $593,733,000 after purchasing an additional 2,871,232 shares during the period. Nordea Investment Management AB raised its stake in shares of Reddit by 21,703.0% in the 2nd quarter. Nordea Investment Management AB now owns 1,060,935 shares of the company’s stock valued at $164,021,000 after purchasing an additional 1,056,069 shares during the period. Vanguard Group Inc. raised its stake in shares of Reddit by 11.1% in the 1st quarter. Vanguard Group Inc. now owns 10,198,552 shares of the company’s stock valued at $1,069,828,000 after purchasing an additional 1,017,162 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Reddit by 98.2% in the 1st quarter. JPMorgan Chase & Co. now owns 1,907,495 shares of the company’s stock valued at $200,096,000 after purchasing an additional 944,847 shares during the period. Finally, Scge Management L.P. raised its stake in shares of Reddit by 121.1% in the 1st quarter. Scge Management L.P. now owns 1,612,000 shares of the company’s stock valued at $169,099,000 after purchasing an additional 883,000 shares during the period.

Insider Activity

In other news, CEO Steve Ladd Huffman sold 18,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $200.53, for a total value of $3,609,540.00. Following the completion of the sale, the chief executive officer directly owned 494,104 shares of the company’s stock, valued at $99,082,675.12. This trade represents a 3.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, COO Jennifer L. Wong sold 30,659 shares of the firm’s stock in a transaction that occurred on Thursday, October 23rd. The shares were sold at an average price of $201.82, for a total value of $6,187,599.38. Following the completion of the sale, the chief operating officer directly owned 1,295,968 shares of the company’s stock, valued at approximately $261,552,261.76. The trade was a 2.31% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 419,626 shares of company stock valued at $94,485,676 over the last three months. Insiders own 34.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Needham & Company LLC reissued a “buy” rating and issued a $300.00 price target on shares of Reddit in a research note on Friday. Jefferies Financial Group upped their target price on Reddit from $230.00 to $300.00 and gave the stock a “buy” rating in a report on Wednesday, September 10th. Truist Financial set a $270.00 price target on Reddit in a research note on Friday. Oppenheimer raised their price target on Reddit from $215.00 to $300.00 and gave the company an “outperform” rating in a research note on Tuesday, September 16th. Finally, Argus began coverage on Reddit in a research note on Monday, August 18th. They issued a “buy” rating and a $250.00 price target for the company. Three research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $225.71.

Reddit Stock Up 7.6%

NYSE:RDDT opened at $209.15 on Friday. The stock’s 50 day moving average price is $223.88 and its two-hundred day moving average price is $170.78. The firm has a market capitalization of $39.15 billion, a price-to-earnings ratio of 120.20, a P/E/G ratio of 3.15 and a beta of 2.23. Reddit Inc. has a 12-month low of $79.75 and a 12-month high of $282.95.

Reddit (NYSE:RDDT) last released its quarterly earnings data 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 15.55% and a net margin of 18.33%.The company had revenue of $585.00 million during the quarter, compared to analysts’ expectations of $546.65 million. During the same period last year, the firm posted $0.16 earnings per share. The business’s revenue was up 67.9% on a year-over-year basis. Reddit has set its Q4 2025 guidance at EPS. Equities research analysts expect that Reddit Inc. will post 1.12 EPS for the current 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.