146,363 Shares in Reddit Inc. $RDDT Purchased by Atreides Management LP

Key Points

• Atreides Management LP has invested approximately $15.35 million in Reddit Inc., acquiring 146,363 shares in the first quarter.
• Wall Street analysts are optimistic, with several brokerages raising their target prices for Reddit's stock, which now have a consensus rating of "Moderate Buy".
• Recent insider trades reveal that key executives have sold significant shares, with one insider selling 10,000 shares for over $2.2 million, indicating ongoing market adjustments.

Atreides Management LP bought a new stake in shares of Reddit Inc. (NYSE:RDDT - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund bought 146,363 shares of the company's stock, valued at approximately $15,353,000. Atreides Management LP owned approximately 0.08% of Reddit at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of RDDT. Whale Rock Capital Management LLC bought a new stake in shares of Reddit in the 4th quarter valued at approximately $204,054,000. Vanguard Group Inc. grew its stake in shares of Reddit by 11.1% in the 1st quarter. Vanguard Group Inc. now owns 10,198,552 shares of the company's stock valued at $1,069,828,000 after buying an additional 1,017,162 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Reddit by 98.2% in the 1st quarter. JPMorgan Chase & Co. now owns 1,907,495 shares of the company's stock valued at $200,096,000 after buying an additional 944,847 shares in the last quarter. Cresset Asset Management LLC grew its stake in shares of Reddit by 159.6% in the 4th quarter. Cresset Asset Management LLC now owns 1,308,797 shares of the company's stock valued at $213,910,000 after buying an additional 804,591 shares in the last quarter. Finally, Nuveen Asset Management LLC grew its stake in shares of Reddit by 424.6% in the 4th quarter. Nuveen Asset Management LLC now owns 932,991 shares of the company's stock valued at $152,488,000 after buying an additional 755,152 shares in the last quarter.

Insider Transactions at Reddit

In other news, CTO Christopher Brian Slowe sold 10,000 shares of the stock in a transaction on Friday, August 22nd. The stock was 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 in the company, valued at approximately $46,810,613.50. This represents a 4.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Jennifer L. Wong sold 30,806 shares of the firm's stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $218.55, for a total value of $6,732,651.30. Following the completion of the transaction, the chief operating officer owned 1,326,709 shares in the company, valued at approximately $289,952,251.95. This represents a 2.27% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 516,777 shares of company stock valued at $88,790,076. 34.25% of the stock is owned by insiders.

Reddit Stock Up 3.5%

Shares of RDDT stock traded up $8.08 during trading hours on Friday, reaching $240.19. 5,551,228 shares of the company's stock were exchanged, compared to its average volume of 5,904,451. Reddit Inc. has a fifty-two week low of $55.25 and a fifty-two week high of $253.14. The stock has a market capitalization of $44.95 billion, a P/E ratio of 218.35, a P/E/G ratio of 3.68 and a beta of 2.40. The business has a fifty day moving average price of $186.96 and a 200-day moving average price of $143.13.

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

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on RDDT. Morgan Stanley boosted their target price on Reddit from $170.00 to $230.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. The Goldman Sachs Group restated a "neutral" rating and issued a $212.00 target price on shares of Reddit in a report on Friday, August 1st. Wells Fargo & Company boosted their target price on Reddit from $115.00 to $118.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 1st. Bank of America boosted their target price on Reddit from $130.00 to $150.00 and gave the stock a "neutral" rating in a report on Wednesday, July 30th. Finally, Raymond James Financial restated a "strong-buy" rating and issued a $225.00 target price (up from $175.00) on shares of Reddit in a report on Friday, August 1st. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $175.38.

Reddit Company Profile

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.