Renaissance Capital LLC Has $14.47 Million Holdings in Reddit Inc. $RDDT

Key Points

• Renaissance Capital LLC trimmed its stake in Reddit by 14% to 62,967 shares valued at $14.47 million, with Reddit making up about 10.4% of the fund's portfolio as its largest holding.
• Reddit beat estimates with Q4 EPS of $1.24 and revenue of $725.6M (up 69.7% YoY), but several analysts have cut target prices; the consensus rating remains a Moderate Buy with a $234.22 target.
• Insiders have mixed activity: Director Sarah E. Farrell bought 43,800 shares (~$6.55M) while insiders sold 298,441 shares over the past 90 days; the stock trades around $154.79 with a 52‑week range of $94.89–$282.95.

Renaissance Capital LLC lowered its stake in Reddit Inc. (NYSE:RDDT - Free Report) by 14.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 62,967 shares of the company's stock after selling 10,251 shares during the quarter. Reddit makes up approximately 10.4% of Renaissance Capital LLC's investment portfolio, making the stock its largest position. Renaissance Capital LLC's holdings in Reddit were worth $14,474,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Anchyra Partners LLC bought a new position in shares of Reddit in the fourth quarter worth about $592,000. S.A. Mason LLC lifted its holdings in shares of Reddit by 61.1% in the fourth quarter. S.A. Mason LLC now owns 2,570 shares of the company's stock worth $591,000 after acquiring an additional 975 shares during the last quarter. Kestra Private Wealth Services LLC lifted its holdings in shares of Reddit by 265.3% in the fourth quarter. Kestra Private Wealth Services LLC now owns 4,245 shares of the company's stock worth $976,000 after acquiring an additional 3,083 shares during the last quarter. Pictet Asset Management Holding SA lifted its holdings in shares of Reddit by 52.9% in the fourth quarter. Pictet Asset Management Holding SA now owns 203,184 shares of the company's stock worth $46,707,000 after acquiring an additional 70,315 shares during the last quarter. Finally, Roth Financial Partners LLC bought a new position in shares of Reddit in the fourth quarter worth about $207,000.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Jefferies Financial Group dropped their target price on shares of Reddit from $285.00 to $250.00 and set a "buy" rating for the company in a report on Tuesday, March 10th. The Goldman Sachs Group dropped their target price on shares of Reddit from $206.00 to $180.00 and set a "neutral" rating for the company in a report on Tuesday, April 14th. Piper Sandler reissued an "overweight" rating and issued a $205.00 target price (down from $290.00) on shares of Reddit in a report on Friday, February 6th. Weiss Ratings reissued a "hold (c-)" rating on shares of Reddit in a report on Monday, December 29th. Finally, Oppenheimer dropped their target price on shares of Reddit from $300.00 to $250.00 and set an "outperform" rating for the company in a report on Friday, February 6th. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and eleven have assigned a Hold rating to the stock. According to data from MarketBeat.com, Reddit presently has an average rating of "Moderate Buy" and a consensus target price of $234.22.

Reddit Price Performance

Reddit stock opened at $154.79 on Monday. The business has a 50 day moving average of $143.49 and a 200-day moving average of $185.55. Reddit Inc. has a 1 year low of $94.89 and a 1 year high of $282.95. The company has a market capitalization of $29.57 billion, a P/E ratio of 59.08, a P/E/G ratio of 1.13 and a beta of 2.40.

Reddit (NYSE:RDDT - Get Free Report) last released its quarterly earnings data on Thursday, February 5th. The company reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.28. Reddit had a return on equity of 20.89% and a net margin of 24.05%.The company had revenue of $725.61 million during the quarter, compared to the consensus estimate of $665.80 million. During the same quarter in the prior year, the firm posted $0.36 earnings per share. The firm's revenue was up 69.7% compared to the same quarter last year. Equities analysts anticipate that Reddit Inc. will post 4.02 EPS for the current year.

Insider Transactions at Reddit

In other news, Director Sarah E. Farrell bought 43,800 shares of the firm's stock in a transaction on Tuesday, February 10th. The stock was acquired at an average price of $149.52 per share, with a total value of $6,548,976.00. Following the transaction, the director owned 43,800 shares of the company's stock, valued at $6,548,976. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Christopher Brian Slowe sold 19,036 shares of the stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $144.05, for a total transaction of $2,742,135.80. Following the sale, the chief technology officer directly owned 185,057 shares of the company's stock, valued at $26,657,460.85. This represents a 9.33% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders purchased 61,000 shares of company stock worth $8,870,815 and sold 298,441 shares worth $44,170,999. 34.25% of the stock is owned by company insiders.

Reddit Company Profile

Reddit is an online social news aggregation, discussion and content-sharing platform organized around user-created communities called "subreddits," each focused on a particular topic or interest. Registered users submit links, text posts, images and video, and community members vote and comment to surface popular content. The site is accessed via its web platform and mobile apps for iOS and Android, and it supports live events such as Ask Me Anything (AMA) sessions and community-driven discussions.

Founded in 2005 by Steve Huffman and Alexis Ohanian, Reddit is headquartered in San Francisco and serves a global audience with particularly large user bases in the United States and other English-speaking markets.

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