State Street Corp Raises Stock Position in Reddit Inc. $RDDT

State Street Corp increased its stake in Reddit Inc. by 8.7% in the second quarter, now holding 2.98 million shares valued at $517.2 million. This increase follows Reddit's stronger-than-expected quarterly results, with EPS of $1.25 and revenue of $804.9 million, a 61% year-over-year increase. Despite a "Moderate Buy" consensus from analysts and an average price target of $219.29, insiders have sold a significant amount of stock recently.