Think Investments LP Has $28.11 Million Stock Holdings in Reddit Inc. $RDDT

Key Points

• Think Investments LP increased its stake in Reddit Inc. by 10.3%, owning 268,000 shares valued at approximately $28 million, making it the 7th largest position in their portfolio.
• Several analysts have issued upbeat ratings on Reddit, with target prices raised significantly; Needham & Company set a target of $215.00 and Piper Sandler set a target of $210.00.
• Insider sales were reported, including a sale by CFO Andrew Vollero of 30,000 shares, highlighting a decrease in their ownership stake in the company.

Think Investments LP increased its position in Reddit Inc. (NYSE:RDDT - Free Report) by 10.3% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 268,000 shares of the company's stock after purchasing an additional 25,000 shares during the quarter. Reddit makes up about 5.5% of Think Investments LP's investment portfolio, making the stock its 7th largest holding. Think Investments LP owned about 0.15% of Reddit worth $28,113,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Alliancebernstein L.P. lifted its position in Reddit by 103.0% during the first quarter. Alliancebernstein L.P. now owns 5,659,990 shares of the company's stock valued at $593,733,000 after buying an additional 2,871,232 shares during the period. Whale Rock Capital Management LLC purchased a new position in Reddit during the 4th quarter valued at about $204,054,000. Vanguard Group Inc. boosted its stake in Reddit by 11.1% during the first quarter. Vanguard Group Inc. now owns 10,198,552 shares of the company's stock worth $1,069,828,000 after acquiring an additional 1,017,162 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Reddit by 98.2% in the first 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 during the period. Finally, Scge Management L.P. increased its stake in shares of Reddit by 121.1% during the first quarter. Scge Management L.P. now owns 1,612,000 shares of the company's stock valued at $169,099,000 after purchasing an additional 883,000 shares in the last quarter.

Analysts Set New Price Targets

A number of brokerages have recently commented on RDDT. Sanford C. Bernstein boosted their price target on Reddit from $130.00 to $150.00 and gave the stock a "market perform" rating in a research report on Tuesday, July 22nd. Robert W. Baird increased their target price on Reddit from $120.00 to $151.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 8th. Raymond James Financial restated a "strong-buy" rating and set a $225.00 price target (up from $175.00) on shares of Reddit in a report on Friday, August 1st. Wall Street Zen raised Reddit from a "hold" rating to a "buy" rating in a research report on Sunday, September 7th. Finally, JMP Securities increased their price objective on shares of Reddit from $180.00 to $225.00 and gave the company a "market outperform" rating in a research report on Friday, August 1st. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $180.58.

Reddit Stock Performance

Shares of NYSE:RDDT traded down $5.78 during midday trading on Friday, reaching $254.76. 2,478,270 shares of the company's stock traded hands, compared to its average volume of 7,673,375. The company has a market cap of $47.68 billion, a price-to-earnings ratio of 231.50, a P/E/G ratio of 4.11 and a beta of 2.40. Reddit Inc. has a one year low of $57.22 and a one year high of $266.64. The stock has a 50 day moving average of $194.36 and a 200 day moving average of $145.16.

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 analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $424.07 million. During the same period in the prior year, the company posted ($0.06) earnings per share. The company's quarterly revenue was up 77.9% on a year-over-year basis. Reddit has set its Q3 2025 guidance at EPS. Sell-side analysts predict that Reddit Inc. will post 1.12 EPS for the current fiscal year.

Insider Buying and Selling at Reddit

In other news, CFO Andrew Vollero sold 30,000 shares of Reddit stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $218.09, for a total transaction of $6,542,700.00. Following the transaction, the chief financial officer owned 284,168 shares in the company, valued at $61,974,199.12. This trade represents a 9.55% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Jennifer L. Wong sold 40,967 shares of the business's stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $220.38, for a total transaction of $9,028,307.46. Following the sale, the chief operating officer directly owned 120,033 shares of the company's stock, valued at approximately $26,452,872.54. The trade was a 25.45% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 500,777 shares of company stock worth $88,572,016. 34.25% of the stock is owned by corporate insiders.

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.