Algert Global LLC Cuts Stock Holdings in Reddit Inc. $RDDT

Key Points

• Algert Global LLC significantly reduced its stake in Reddit Inc., cutting its holdings by 85.7% in the first quarter, now owning 5,099 shares valued at $535,000.
• Other institutional investors, such as Vanguard Group Inc. and JPMorgan Chase & Co., have increased their positions in Reddit, with Vanguard raising its stake by 11.1%.
• Reddit recently reported quarterly earnings of $0.45 EPS, outperforming estimates, with revenue up 77.9% year-over-year, totaling $499.63 million.

Algert Global LLC trimmed its position in shares of Reddit Inc. (NYSE:RDDT - Free Report) by 85.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,099 shares of the company's stock after selling 30,528 shares during the period. Algert Global LLC's holdings in Reddit were worth $535,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Reddit by 11.1% during the first quarter. Vanguard Group Inc. now owns 10,198,552 shares of the company's stock valued at $1,069,828,000 after acquiring an additional 1,017,162 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Reddit by 98.2% during the first quarter. JPMorgan Chase & Co. now owns 1,907,495 shares of the company's stock valued at $200,096,000 after acquiring an additional 944,847 shares during the last quarter. Cresset Asset Management LLC raised its stake in shares of Reddit by 159.6% during the fourth quarter. Cresset Asset Management LLC now owns 1,308,797 shares of the company's stock valued at $213,910,000 after acquiring an additional 804,591 shares during the last quarter. Whale Rock Capital Management LLC bought a new position in shares of Reddit during the fourth quarter valued at about $204,054,000. Finally, Voloridge Investment Management LLC raised its stake in shares of Reddit by 46.3% during the fourth quarter. Voloridge Investment Management LLC now owns 963,516 shares of the company's stock valued at $157,477,000 after acquiring an additional 304,773 shares during the last quarter.

Insider Buying and Selling at Reddit

In related news, CTO Christopher Brian Slowe sold 10,000 shares of the business's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $220.25, for a total transaction of $2,202,500.00. Following the sale, the chief technology officer owned 212,534 shares of the company's stock, valued at $46,810,613.50. The trade was a 4.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Steve Ladd Huffman sold 14,000 shares of the business's stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $244.70, for a total transaction of $3,425,800.00. Following the sale, the chief executive officer directly owned 531,485 shares in the company, valued at $130,054,379.50. The trade was a 2.57% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 411,004 shares of company stock valued at $64,005,737 over the last three months. 34.25% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on RDDT shares. Raymond James Financial reaffirmed a "strong-buy" rating and set a $225.00 price objective (up from $175.00) on shares of Reddit in a research note on Friday, August 1st. Wall Street Zen raised shares of Reddit from a "hold" rating to a "buy" rating in a research note on Saturday, June 14th. Royal Bank Of Canada reiterated a "sector perform" rating and set a $210.00 price target on shares of Reddit in a research report on Friday. Argus initiated coverage on shares of Reddit in a research report on Monday, August 18th. They set a "buy" rating and a $250.00 price target on the stock. Finally, Seaport Res Ptn upgraded shares of Reddit from a "hold" rating to a "strong-buy" rating in a research report on Monday, May 5th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Reddit presently has an average rating of "Moderate Buy" and a consensus target price of $175.38.

Reddit Price Performance

Shares of NYSE RDDT opened at $217.2850 on Friday. Reddit Inc. has a 1 year low of $55.02 and a 1 year high of $253.14. The company's 50-day moving average is $169.82 and its 200 day moving average is $141.63. The stock has a market capitalization of $40.67 billion, a P/E ratio of 197.53, a P/E/G ratio of 3.45 and a beta of 2.30.

Reddit (NYSE:RDDT - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.20 by $0.25. Reddit had a net margin of 12.97% and a return on equity of 9.93%. The business had revenue of $499.63 million for the quarter, compared to analyst estimates of $424.07 million. During the same quarter in the previous year, the firm posted ($0.06) earnings per share. Reddit's quarterly revenue was up 77.9% on a year-over-year basis. Reddit has set its Q3 2025 guidance at EPS. Research analysts anticipate that Reddit Inc. will post 1.12 earnings per share for the current 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.

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