Illinois Municipal Retirement Fund Increases Stock Holdings in Reddit Inc. $RDDT

Illinois Municipal Retirement Fund increased its position in shares of Reddit Inc. (NYSE:RDDT) by 333.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 41,760 shares of the company’s stock after purchasing an additional 32,133 shares during the period. Illinois Municipal Retirement Fund’s holdings in Reddit were worth $9,604,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of RDDT. Caisse Des Depots ET Consignations acquired a new stake in shares of Reddit during the 3rd quarter worth approximately $825,000. GK Wealth Management LLC purchased a new position in Reddit in the third quarter worth approximately $1,740,000. Cibc World Market Inc. increased its stake in Reddit by 16.3% during the third quarter. Cibc World Market Inc. now owns 5,918 shares of the company’s stock worth $1,361,000 after acquiring an additional 829 shares during the last quarter. Rhumbline Advisers raised its position in Reddit by 4.8% in the third quarter. Rhumbline Advisers now owns 145,710 shares of the company’s stock valued at $33,512,000 after purchasing an additional 6,713 shares during the period. Finally, Advisors Asset Management Inc. raised its position in Reddit by 1,144.9% in the third quarter. Advisors Asset Management Inc. now owns 4,544 shares of the company’s stock valued at $1,045,000 after purchasing an additional 4,179 shares during the period.

Reddit News Roundup

Here are the key news stories impacting Reddit this week:

• Positive Sentiment: New ad integration with Shirofune should make Reddit ads easier to buy and optimize alongside major channels, strengthening ad demand and advertiser ROI expectations. This supports revenue growth prospects. Read More.
• Positive Sentiment: Director Sarah E. Farrell bought a large stake (43,800 shares on 2/10 and 6,700 shares on 2/11), increasing her position materially — a strong insider vote of confidence that can be viewed as bullish by the market. Read More.
• Positive Sentiment: Sell‑side commentary (Needham) and coverage noting Reddit’s ad momentum and AI tools argue the company can sustain growth, which could support multiple expansion if execution continues. Read More.
• Neutral Sentiment: Reddit is a hot search topic among investors — increased attention can amplify volatility (both up and down) but does not itself change fundamentals. Read More.
• Negative Sentiment: CTO Christopher Slowe sold 11,464 shares (~6.5% reduction in his holding), which markets often view as a negative signal when insiders reduce exposure. Read More.
• Negative Sentiment: Multiple headlines cite that Reddit shares plunged and fell ~46% over the past month amid macro pressure and competition; that magnitude of recent drawdown can trigger momentum selling and dampen near‑term sentiment. Read More.
• Negative Sentiment: Coverage summarizing why shares plunged points to macro headwinds and competitive risks to ad monetization — factors that could pressure revenue growth and multiples if they persist. Read More.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Citigroup raised their price objective on Reddit from $250.00 to $265.00 and gave the stock a “buy” rating in a research report on Monday, November 3rd. Raymond James Financial reiterated a “strong-buy” rating and set a $250.00 price target (up from $225.00) on shares of Reddit in a research report on Monday, October 20th. Needham & Company LLC reissued a “buy” rating and issued a $300.00 price target on shares of Reddit in a research note on Friday, February 6th. Oppenheimer lowered their price objective on shares of Reddit from $300.00 to $250.00 and set an “outperform” rating for the company in a research report on Friday, February 6th. Finally, B. Riley Securities boosted their target price on Reddit from $245.00 to $250.00 and gave the company a “buy” rating in a research report on Friday, February 6th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $240.93.

Insider Activity

In other news, CFO Andrew Vollero sold 3,674 shares of the company’s stock in a transaction on Tuesday, January 13th. The shares were sold at an average price of $261.21, for a total value of $959,685.54. Following the completion of the transaction, the chief financial officer owned 251,644 shares in the company, valued at approximately $65,731,929.24. This represents a 1.44% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Steve Ladd Huffman sold 18,000 shares of the stock in a transaction on Friday, January 30th. The shares were sold at an average price of $183.18, for a total transaction of $3,297,240.00. Following the completion of the transaction, the chief executive officer directly owned 448,576 shares in the company, valued at $82,170,151.68. This trade represents a 3.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 502,975 shares of company stock valued at $109,585,305 over the last 90 days. Insiders own 34.25% of the company’s stock.

Reddit Trading Down 6.0%

Shares of RDDT stock opened at $130.95 on Friday. The company has a market cap of $24.82 billion, a P/E ratio of 49.98, a PEG ratio of 1.03 and a beta of 2.17. The firm has a fifty day moving average price of $214.67 and a 200 day moving average price of $214.47. Reddit Inc. has a 12 month low of $79.75 and a 12 month high of $282.95.

Reddit (NYSE:RDDT) last announced its quarterly earnings results on Thursday, February 5th. The company reported $1.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.28. Reddit had a return on equity of 20.89% and a net margin of 24.05%.The company had revenue of $725.61 million during the quarter, compared to the consensus estimate of $665.80 million. During the same period in the previous year, the business earned $0.36 EPS. Reddit’s revenue for the quarter was up 69.7% on a year-over-year basis. On average, equities analysts forecast that Reddit Inc. will post 1.12 EPS for the current year.

About Reddit

Reddit is an online social news aggregation, discussion and content-sharing platform organized around user-created communities called “subreddits,” each focused on a particular topic or interest. Registered users submit links, text posts, images and video, and community members vote and comment to surface popular content. The site is accessed via its web platform and mobile apps for iOS and Android, and it supports live events such as Ask Me Anything (AMA) sessions and community-driven discussions.

Founded in 2005 by Steve Huffman and Alexis Ohanian, Reddit is headquartered in San Francisco and serves a global audience with particularly large user bases in the United States and other English-speaking markets.