Reddit Inc. $RDDT Stock Position Lifted by Graham Capital Management L.P.

Key Points

• Graham Capital Management L.P. acquired an additional 15,986 shares of Reddit Inc., increasing its stake by 80.7%, bringing total holdings to 35,785 shares valued at approximately $3.75 million.
• Several analysts have raised their price targets for Reddit, with Piper Sandler and others setting targets between $210.00 and $215.00, indicating strong confidence in the stock's future performance.
• Insider trading activity includes COO Jennifer L. Wong and CEO Steve Ladd Huffman selling significant shares, suggesting a decrease in their ownership but potentially reflecting confidence in company growth.

Graham Capital Management L.P. raised its holdings in Reddit Inc. (NYSE:RDDT - Free Report) by 80.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 35,785 shares of the company's stock after purchasing an additional 15,986 shares during the quarter. Graham Capital Management L.P.'s holdings in Reddit were worth $3,754,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. JPMorgan Chase & Co. boosted its holdings in shares of Reddit by 98.2% in 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 in the last quarter. Greycroft LP lifted its holdings in shares of Reddit by 109.1% in the first quarter. Greycroft LP now owns 11,500 shares of the company's stock valued at $1,206,000 after purchasing an additional 6,000 shares in the last quarter. Ogborne Capital Management LLC purchased a new stake in shares of Reddit in the fourth quarter valued at about $11,539,000. Voloridge Investment Management LLC lifted its holdings in shares of Reddit by 46.3% in the fourth quarter. Voloridge Investment Management LLC now owns 963,516 shares of the company's stock valued at $157,477,000 after purchasing an additional 304,773 shares in the last quarter. Finally, Renaissance Capital LLC lifted its holdings in shares of Reddit by 10.9% in the first quarter. Renaissance Capital LLC now owns 34,636 shares of the company's stock valued at $3,633,000 after purchasing an additional 3,400 shares in the last quarter.

Analyst Ratings Changes

Several brokerages recently issued reports on RDDT. Citigroup upped their price objective on shares of Reddit from $158.00 to $163.00 and gave the company a "buy" rating in a research note on Tuesday, June 24th. Bank of America increased their price objective on shares of Reddit from $130.00 to $150.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 30th. JMP Securities increased their price objective on shares of Reddit from $180.00 to $225.00 and gave the stock a "market outperform" rating in a research report on Friday, August 1st. Raymond James Financial reaffirmed a "strong-buy" rating and set a $225.00 price target (up previously from $175.00) on shares of Reddit in a research note on Friday, August 1st. Finally, Robert W. Baird lifted their price target on shares of Reddit from $120.00 to $151.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 8th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Reddit currently has an average rating of "Moderate Buy" and an average target price of $175.38.

Reddit Stock Performance

Shares of RDDT stock traded up $9.16 during midday trading on Thursday, reaching $232.30. 4,264,063 shares of the company were exchanged, compared to its average volume of 7,776,296. Reddit Inc. has a 12 month low of $55.25 and a 12 month high of $253.14. The company has a market cap of $43.48 billion, a P/E ratio of 211.18, a PEG ratio of 3.57 and a beta of 2.40. The company's 50 day moving average price is $183.25 and its two-hundred day moving average price is $142.52.

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

Insider Buying and Selling at Reddit

In other news, COO Jennifer L. Wong sold 40,967 shares of Reddit stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $220.38, for a total value of $9,028,307.46. Following the transaction, the chief operating officer directly owned 120,033 shares of the company's stock, valued at $26,452,872.54. This trade represents a 25.45% 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, CFO Andrew Vollero sold 30,000 shares of Reddit stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $117.64, for a total transaction of $3,529,200.00. Following the completion of the transaction, the chief financial officer directly owned 333,806 shares in the company, valued at approximately $39,268,937.84. This trade represents a 8.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 486,777 shares of company stock worth $82,247,376. 34.25% of the stock is currently owned by company insiders.

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.