Strategic Blueprint LLC Makes New $580,000 Investment in Reddit Inc. $RDDT

Key Points

• Strategic Blueprint LLC has made a new investment of $580,000 in Reddit Inc. (NYSE:RDDT), acquiring 3,853 shares during the 2nd quarter.
• Several hedge funds, including Vanguard Group and JPMorgan Chase, have significantly increased their stakes in Reddit, reflecting strong institutional confidence in the company.
• Analysts have varied price targets for Reddit's shares, with a consensus rating of "Moderate Buy" and a price target averaging around $217.50.

Strategic Blueprint LLC purchased a new position in Reddit Inc. (NYSE:RDDT - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,853 shares of the company's stock, valued at approximately $580,000.

Several other hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Reddit by 11.1% in the first 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 during the last quarter. Alliancebernstein L.P. lifted its stake in Reddit by 103.0% in the first quarter. Alliancebernstein L.P. now owns 5,659,990 shares of the company's stock worth $593,733,000 after purchasing an additional 2,871,232 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its stake in Reddit by 10.6% in the first 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 during the last quarter. JPMorgan Chase & Co. increased its position 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 during the period. Finally, Scge Management L.P. increased its position in shares of Reddit by 121.1% in the first quarter. Scge Management L.P. now owns 1,612,000 shares of the company's stock valued at $169,099,000 after acquiring an additional 883,000 shares during the period.

Analysts Set New Price Targets

A number of equities analysts have issued reports on RDDT shares. Weiss Ratings restated a "hold (c-)" rating on shares of Reddit in a research report on Saturday. Bank of America boosted their price objective on shares of Reddit from $130.00 to $150.00 and gave the company a "neutral" rating in a research report on Wednesday, July 30th. Sanford C. Bernstein set a $190.00 price objective on shares of Reddit and gave the company a "market perform" rating in a research report on Thursday. Wall Street Zen upgraded shares of Reddit from a "hold" rating to a "buy" rating in a research report on Sunday, September 7th. Finally, Robert W. Baird boosted their price objective on shares of Reddit from $177.00 to $240.00 and gave the company a "neutral" rating in a research report on Thursday, September 25th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, ten have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $217.50.

Reddit Price Performance

Shares of NYSE RDDT opened at $214.64 on Friday. Reddit Inc. has a 1 year low of $79.02 and a 1 year high of $282.95. The company's 50-day moving average is $225.42 and its 200 day moving average is $166.61. The stock has a market capitalization of $40.17 billion, a P/E ratio of 195.12, a P/E/G ratio of 3.27 and a beta of 2.23.

Reddit (NYSE:RDDT - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The company reported $0.45 earnings per share (EPS) for the quarter, beating 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 company had revenue of $499.63 million for the quarter, compared to analysts' expectations of $424.07 million. During the same quarter in the previous year, the company earned ($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.

Insider Buying and Selling at Reddit

In other Reddit news, CFO Andrew Vollero sold 30,000 shares of the company's stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $218.09, for a total value of $6,542,700.00. Following the sale, the chief financial officer owned 284,168 shares in the company, valued at approximately $61,974,199.12. This represents a 9.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Steve Ladd Huffman sold 18,000 shares of the company's stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $200.53, for a total transaction of $3,609,540.00. Following the completion of the sale, the chief executive officer owned 494,104 shares in the company, valued at approximately $99,082,675.12. This trade represents a 3.51% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 380,500 shares of company stock worth $86,589,351 in the last ninety days. 34.25% of the stock is 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.

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