New Mexico Educational Retirement Board Makes New Investment in Reddit Inc. $RDDT

New Mexico Educational Retirement Board acquired a new position in Reddit Inc. (NYSE:RDDT) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 6,500 shares of the company’s stock, valued at approximately $926,000.

Several other large investors also recently added to or reduced their stakes in the company. Maryland State Retirement & Pension System boosted its position in Reddit by 16.8% during the third quarter. Maryland State Retirement & Pension System now owns 8,292 shares of the company’s stock worth $1,181,000 after purchasing an additional 1,194 shares during the period. First Command Advisory Services Inc. raised its position in shares of Reddit by 171.1% in the third quarter. First Command Advisory Services Inc. now owns 572 shares of the company’s stock valued at $81,000 after purchasing an additional 361 shares during the period. Illinois Municipal Retirement Fund raised its position in shares of Reddit by 4.8% in the third quarter. Illinois Municipal Retirement Fund now owns 78,838 shares of the company’s stock valued at $11,230,000 after purchasing an additional 3,584 shares during the period. Inspire Trust Co. N.A. lifted its stake in shares of Reddit by 50.0% during the 3rd quarter. Inspire Trust Co. N.A. now owns 30,000 shares of the company’s stock valued at $4,273,000 after buying an additional 10,000 shares in the last quarter. Finally, Lido Advisors LLC lifted its stake in shares of Reddit by 51.1% during the 3rd quarter. Lido Advisors LLC now owns 14,090 shares of the company’s stock valued at $2,007,000 after buying an additional 4,767 shares in the last quarter.

Reddit Stock Up 7.0%

Shares of RDDT opened at $105.55 on Thursday. Reddit Inc. has a twelve month low of $89.28 and a twelve month high of $263.50. The stock has a market cap of $20.38 billion, a PE ratio of 20.14, a P/E/G ratio of 0.40 and a beta of 2.28. The business’s 50-day moving average price is $141.58 and its 200-day moving average price is $154.97.

Reddit (NYSE:RDDT) last released its quarterly earnings data on Thursday, October 29th. The company reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.33 by $0.07. The company had revenue of $894.96 million during the quarter, compared to analyst estimates of $874.91 million. Reddit had a net margin of 32.10% and a return on equity of 30.57%. Reddit’s revenue was up 53.0% compared to the same quarter last year. During the same period last year, the business earned $0.80 earnings per share. Analysts expect that Reddit Inc. will post 5.42 earnings per share for the current fiscal year.

Insider Activity

In other Reddit news, Director Robert A. Sauerberg sold 5,128 shares of the firm’s stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $159.92, for a total value of $820,069.76. Following the completion of the transaction, the director directly owned 27,087 shares of the company’s stock, valued at $4,331,753.04. This trade represents a 15.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Mary Gale sold 4,000 shares of the business’s stock in a transaction on Friday, November 6th. The shares were sold at an average price of $96.00, for a total transaction of $384,000.00. Following the transaction, the director owned 11,181 shares of the company’s stock, valued at $1,073,376. This trade represents a 26.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 295,052 shares of company stock valued at $47,550,483. 28.48% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms recently commented on RDDT. Telsey Advisory Group set a $240.00 price objective on shares of Reddit in a report on Friday, July 31st. KeyCorp cut shares of Reddit from an “overweight” rating to a “sector weight” rating in a report on Friday, October 30th. Cantor Fitzgerald dropped their target price on Reddit from $170.00 to $120.00 and set a “neutral” rating on the stock in a research report on Friday, October 30th. Sanford C. Bernstein restated a “market perform” rating and set a $120.00 target price (down from $180.00) on shares of Reddit in a research report on Friday, October 30th. Finally, DA Davidson cut their price target on Reddit from $185.00 to $125.00 and set a “buy” rating for the company in a report on Monday, November 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and fifteen have assigned a Hold rating to the company. According to data from MarketBeat, Reddit presently has an average rating of “Moderate Buy” and a consensus target price of $180.00.

Reddit News Roundup

Investors following RDDT have been watching these news items:

• Positive Sentiment: Reddit’s growing ad revenue, AI-powered targeting and expanding advertiser base are supporting optimism about its ability to win more digital-ad spending, though it faces competition from Meta and Snap. Reddit Rides on Strong Ad Growth
• Positive Sentiment: The company introduced Reddit Reviews, which uses AI to organize product-related community discussions into reviews and takeaways. The feature could strengthen Reddit’s appeal for product research and help monetize user activity. Reddit is turning user conversations into AI-powered product reviews
• Neutral Sentiment: Guggenheim lowered its price target to $140 from $170 but kept a Buy rating, signaling a reduced valuation outlook while maintaining a positive recommendation. Guggenheim stock recommendations

About Reddit

Reddit, Inc. operates Reddit, an online platform where users share posts, discuss topics and participate in communities known as subreddits. Members can submit text, images, videos and links, comment on posts, and vote on content, helping shape what appears in each community. The company generates revenue primarily through advertising and also offers paid subscriptions and other products. Reddit serves users and advertisers around the world through its website and mobile applications. Reddit was founded in 2005 by Steve Huffman, Alexis Ohanian and Aaron Swartz.