Reddit Inc. $RDDT Shares Newly Purchased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Reddit Inc. (NYSE:RDDT) during the third quarter, Holdings Channel reports. The fund purchased 36,591 shares of the company’s stock, valued at approximately $5,212,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in RDDT. State Street Corp increased its stake in shares of Reddit by 8.7% in the second quarter. State Street Corp now owns 2,979,587 shares of the company’s stock valued at $517,197,000 after buying an additional 237,523 shares during the period. Wellington Management Group LLP boosted its position in Reddit by 21.8% during the 2nd quarter. Wellington Management Group LLP now owns 1,564,535 shares of the company’s stock worth $271,572,000 after buying an additional 280,030 shares during the period. Robeco Institutional Asset Management B.V. grew its holdings in Reddit by 74.6% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 809,063 shares of the company’s stock worth $115,243,000 after acquiring an additional 345,735 shares during the last quarter. DSM Capital Partners LLC grew its holdings in Reddit by 5.3% during the 1st quarter. DSM Capital Partners LLC now owns 848,206 shares of the company’s stock worth $114,211,000 after acquiring an additional 42,808 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Reddit by 8.9% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 481,893 shares of the company’s stock valued at $83,647,000 after acquiring an additional 39,540 shares during the period.

Insider Activity

In other Reddit news, Director Mary Gale sold 3,000 shares of the company’s stock in a transaction on Tuesday, November 3rd. The shares were sold at an average price of $96.00, for a total transaction of $288,000.00. Following the sale, the director owned 18,181 shares of the company’s stock, valued at approximately $1,745,376. This represents a 14.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Jennifer L. Wong sold 75,000 shares of the company’s stock in a transaction on Friday, August 14th. The shares were sold at an average price of $178.55, for a total transaction of $13,391,250.00. Following the sale, the chief operating officer directly owned 1,050,339 shares in the company, valued at $187,538,028.45. This trade represents a 6.66% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 291,052 shares of company stock worth $47,166,483 over the last ninety days. Corporate insiders own 28.48% of the company’s stock.

Reddit Stock Performance

Reddit stock opened at $93.85 on Friday. Reddit Inc. has a 52-week low of $89.28 and a 52-week high of $263.50. The firm has a 50 day moving average price of $145.55 and a two-hundred day moving average price of $157.31. The firm has a market cap of $18.06 billion, a price-to-earnings ratio of 19.15, a PEG ratio of 0.41 and a beta of 2.28.

Reddit (NYSE:RDDT) last issued its quarterly earnings results on Thursday, October 29th. The company reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.33 by $0.07. Reddit had a net margin of 32.10% and a return on equity of 30.57%. The firm had revenue of $894.96 million for the quarter, compared to the consensus estimate of $874.91 million. During the same quarter in the previous year, the company earned $0.80 EPS. The company’s revenue for the quarter was up 53.0% on a year-over-year basis. As a group, equities research analysts predict that Reddit Inc. will post 5.42 EPS for the current fiscal year.

Trending Headlines about Reddit

Here are the key news stories impacting Reddit this week:

• Positive Sentiment: KeyCorp raised its FY2026 EPS estimate to $5.41 from $4.90, close to the cited consensus estimate of $5.42. A separate analyst roundup also characterized sentiment toward Reddit as bullish. Analysts Are Bullish on These Communication Services Stocks
• Neutral Sentiment: Commentary described Reddit as recovering from concerns about AI search, while a report discussed broker forecasts for Q4 earnings; the supplied headlines did not provide details on the outlook or forecast changes. Reddit Stock Roars Back From AI Search Scare Brokers Issue Forecasts for Reddit’s Q4 Earnings
• Negative Sentiment: KeyCorp cut its FY2028 EPS estimate to $7.06 from $8.73, pointing to reduced longer-term earnings expectations. Reddit analyst estimates
• Negative Sentiment: Reports said Loop Capital lowered its rating on Reddit and Evercore moved its rating to Hold, adding to pressure on investor sentiment. Loop Capital Lowers Reddit Rating Evercore Lowers Reddit to Hold
• Negative Sentiment: Director Mary Gale sold 3,000 shares for $288,000, reducing her stake by 14.16%, though she retained 18,181 shares. Insider sales can raise concerns but do not by themselves establish a negative outlook. SEC Form 4 filing
• Negative Sentiment: Block & Leviton announced an investigation into potential securities-law violations and invited investors who lost money to contact the firm. The announcement is an allegation/investigation, not a finding of wrongdoing. Block & Leviton Investigation Announcement

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Piper Sandler cut their price target on shares of Reddit from $195.00 to $145.00 in a report on Friday, October 30th. Wells Fargo & Company decreased their price objective on Reddit from $142.00 to $110.00 and set an “equal weight” rating for the company in a report on Friday, October 30th. B. Riley Financial lowered their target price on Reddit from $270.00 to $190.00 and set a “buy” rating for the company in a research report on Friday, October 30th. Robert W. Baird set a $185.00 target price on Reddit in a report on Friday, July 31st. Finally, Needham & Company LLC cut their target price on Reddit from $300.00 to $150.00 and set a “buy” rating on the stock in a report on Friday, October 30th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and fifteen have given a Hold rating to the company’s stock. According to MarketBeat, Reddit presently has a consensus rating of “Moderate Buy” and a consensus price target of $180.91.

Reddit Profile

Reddit, Inc operates a global online platform where users participate in communities organized around shared interests, topics and activities. Members can submit text posts, links, images and videos, as well as comment on and vote on content. The platform includes thousands of communities, commonly known as subreddits, covering subjects such as news, entertainment, technology, sports, finance and lifestyle.

Reddit generates revenue primarily through digital advertising, offering advertisers access to audiences based on community interests and user engagement.