Clough Capital Partners L P Sells 10,084 Shares of Reddit Inc. $RDDT

Key Points

• Clough Capital Partners L P sold 10,084 shares of Reddit Inc. (NYSE:RDDT), reducing its holdings by 13.7% during the 1st quarter, leaving it with 63,617 shares valued at approximately $6.67 million.
• Several institutional investors have significantly increased their positions in Reddit, with Vanguard Group Inc. raising its stake by 11.1% and JPMorgan Chase & Co. increasing its ownership by 98.2% in the same quarter.
• Reddit's stock received multiple positive ratings from analysts, with price targets increased, including Piper Sandler's adjustment from $150.00 to $210.00 and Raymond James' rise from $175.00 to $225.00.

Clough Capital Partners L P trimmed its position in shares of Reddit Inc. (NYSE:RDDT - Free Report) by 13.7% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 63,617 shares of the company's stock after selling 10,084 shares during the quarter. Clough Capital Partners L P's holdings in Reddit were worth $6,673,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position 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 worth $1,069,828,000 after purchasing an additional 1,017,162 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its position in shares of Reddit by 10.6% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 4,073,939 shares of the company's stock worth $427,357,000 after purchasing an additional 389,761 shares in the last quarter. JPMorgan Chase & Co. boosted its position 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 worth $200,096,000 after purchasing an additional 944,847 shares in the last quarter. Cresset Asset Management LLC boosted its position 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 worth $213,910,000 after purchasing an additional 804,591 shares in the last quarter. Finally, Whale Rock Capital Management LLC bought a new stake in shares of Reddit in the 4th quarter worth approximately $204,054,000.

Analyst Ratings Changes

A number of brokerages have recently commented on RDDT. Seaport Res Ptn raised Reddit from a "hold" rating to a "strong-buy" rating in a research report on Monday, May 5th. Wall Street Zen lowered shares of Reddit from a "buy" rating to a "hold" rating in a report on Saturday. Guggenheim boosted their price objective on shares of Reddit from $165.00 to $215.00 and gave the stock a "buy" rating in a report on Friday, August 1st. JMP Securities boosted their price objective on shares of Reddit from $180.00 to $225.00 and gave the stock a "market outperform" rating in a report on Friday, August 1st. Finally, Wolfe Research upgraded shares of Reddit to an "outperform" rating in a report on Sunday, August 3rd. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Reddit has an average rating of "Moderate Buy" and an average price target of $175.38.

Insiders Place Their Bets

In other news, CAO Michelle Marie Reynolds sold 3,214 shares of the firm's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $217.69, for a total transaction of $699,655.66. Following the completion of the transaction, the chief accounting officer owned 28,088 shares in the company, valued at $6,114,476.72. This trade represents a 10.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 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 transaction, the chief operating officer owned 1,326,709 shares of the company's stock, valued at approximately $289,952,251.95. The trade was a 2.27% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 468,777 shares of company stock worth $78,225,996 in the last three months. 34.25% of the stock is owned by company insiders.

Reddit Price Performance

Shares of NYSE:RDDT traded down $5.01 during midday trading on Tuesday, hitting $220.07. The company had a trading volume of 4,506,437 shares, compared to its average volume of 7,792,715. The company has a market cap of $41.19 billion, a price-to-earnings ratio of 200.06, a PEG ratio of 3.57 and a beta of 2.38. Reddit Inc. has a 12-month low of $55.25 and a 12-month high of $253.14. The company has a fifty day moving average of $180.03 and a two-hundred day moving average of $141.41.

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 return on equity of 9.93% and a net margin of 12.97%.The firm had revenue of $499.63 million during the quarter, compared to analyst estimates of $424.07 million. During the same period in the prior year, the business posted ($0.06) EPS. Reddit's revenue was up 77.9% on a year-over-year basis. Reddit has set its Q3 2025 guidance at EPS. Research analysts expect that Reddit Inc. will post 1.12 earnings per share for the current fiscal year.

Reddit 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.