Ontario Teachers Pension Plan Board Buys New Stake in Reddit Inc. $RDDT

Ontario Teachers Pension Plan Board purchased a new position in Reddit Inc. (NYSE:RDDT) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 10,649 shares of the company’s stock, valued at approximately $1,603,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Glaxis Capital Management LLC purchased a new position in shares of Reddit during the second quarter valued at about $602,000. Intech Investment Management LLC bought a new position in Reddit during the second quarter valued at approximately $7,869,000. Creative Planning grew its holdings in Reddit by 0.3% during the 2nd quarter. Creative Planning now owns 59,102 shares of the company’s stock valued at $8,899,000 after buying an additional 204 shares in the last quarter. SG Americas Securities LLC increased its stake in Reddit by 223.3% in the 2nd quarter. SG Americas Securities LLC now owns 37,154 shares of the company’s stock worth $5,594,000 after acquiring an additional 25,661 shares during the last quarter. Finally, Foundations Investment Advisors LLC raised its holdings in shares of Reddit by 4.4% during the 2nd quarter. Foundations Investment Advisors LLC now owns 6,452 shares of the company’s stock worth $971,000 after acquiring an additional 270 shares in the last quarter.

Insiders Place Their Bets

In other news, COO Jennifer L. Wong sold 40,967 shares of the business’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $220.38, for a total transaction of $9,028,307.46. Following the completion of the sale, the chief operating officer directly owned 120,033 shares of the company’s stock, valued at approximately $26,452,872.54. The trade was a 25.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Christopher Brian Slowe sold 28,000 shares of the company’s stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $218.94, for a total transaction of $6,130,320.00. Following the completion of the transaction, the chief technology officer owned 222,534 shares in the company, valued at approximately $48,721,593.96. The trade was a 11.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 387,747 shares of company stock worth $85,968,497 in the last 90 days. 34.25% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on RDDT. Morgan Stanley reissued an “overweight” rating and issued a $250.00 target price on shares of Reddit in a report on Friday, October 31st. JMP Securities reiterated a “market outperform” rating and set a $300.00 price objective on shares of Reddit in a research report on Friday, October 3rd. Needham & Company LLC restated a “buy” rating and issued a $300.00 target price on shares of Reddit in a report on Friday, October 31st. Wolfe Research upgraded shares of Reddit to an “outperform” rating in a research report on Sunday, August 3rd. Finally, Bank of America lifted their price target on Reddit from $180.00 to $210.00 and gave the stock a “neutral” rating in a research report on Friday, October 31st. 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 MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $226.33.

Reddit Trading Up 2.0%

Shares of NYSE:RDDT opened at $193.24 on Monday. Reddit Inc. has a 12 month low of $79.75 and a 12 month high of $282.95. The company has a market capitalization of $36.62 billion, a price-to-earnings ratio of 111.06, a PEG ratio of 2.13 and a beta of 2.15. The firm’s 50-day moving average is $218.30 and its 200 day moving average is $177.49.

Reddit (NYSE:RDDT) last announced its earnings results on Thursday, October 30th. The company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $546.65 million. During the same quarter in the previous year, the business earned $0.16 earnings per share. The company’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, equities analysts forecast that Reddit Inc. will post 1.12 EPS for the current fiscal year.

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.