Reddit Inc. $RDDT Position Boosted by Think Investments LP

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 grew its holdings in Reddit Inc. (NYSE:RDDT - Free Report) by 10.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 268,000 shares of the company's stock after buying an additional 25,000 shares during the quarter. Reddit comprises 5.5% of Think Investments LP's investment portfolio, making the stock its 7th biggest holding. Think Investments LP owned 0.15% of Reddit worth $28,113,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of RDDT. Petrus Trust Company LTA purchased a new position in Reddit during the first quarter worth $473,000. JPMorgan Chase & Co. lifted its stake in shares of Reddit by 98.2% during 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 in the last quarter. Greycroft LP lifted its stake in shares of Reddit by 109.1% during the first quarter. Greycroft LP now owns 11,500 shares of the company's stock worth $1,206,000 after purchasing an additional 6,000 shares in the last quarter. Ogborne Capital Management LLC acquired a new position in shares of Reddit during the fourth quarter worth about $11,539,000. Finally, Voloridge Investment Management LLC lifted its stake 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 worth $157,477,000 after acquiring an additional 304,773 shares in the last quarter.

Reddit Price Performance

Shares of Reddit stock traded up $9.83 on Tuesday, hitting $239.81. 3,633,517 shares of the company's stock traded hands, compared to its average volume of 5,965,775. The firm's 50-day moving average price is $190.30 and its two-hundred day moving average price is $143.71. The stock has a market capitalization of $44.88 billion, a PE ratio of 218.01, a price-to-earnings-growth ratio of 3.65 and a beta of 2.40. Reddit Inc. has a one year low of $55.48 and a one year high of $253.14.

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 analysts' consensus estimates of $0.20 by $0.25. The company had revenue of $499.63 million during 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%. The company's quarterly revenue was up 77.9% on a year-over-year basis. During the same period in the prior year, the business posted ($0.06) EPS. Reddit has set its Q3 2025 guidance at EPS. On average, analysts forecast that Reddit Inc. will post 1.12 earnings per share for the current fiscal year.

Insider Buying and Selling at Reddit

In other news, COO Jennifer L. Wong sold 40,967 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief operating officer directly owned 120,033 shares of the company's stock, valued at $26,452,872.54. This represents a 25.45% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Andrew Vollero sold 30,000 shares of the firm's 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 of the company's stock, 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. Insiders have sold a total of 516,777 shares of company stock worth $88,790,076 in the last three months. 34.25% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Wall Street Zen raised Reddit from a "hold" rating to a "buy" rating in a report on Sunday. Roth Capital raised their price objective on Reddit from $130.00 to $145.00 and gave the stock a "neutral" rating in a research note on Monday, July 21st. Citigroup increased their target price on Reddit from $158.00 to $163.00 and gave the company a "buy" rating in a report on Tuesday, June 24th. Guggenheim increased their price objective on Reddit from $165.00 to $215.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Finally, The Goldman Sachs Group restated a "neutral" rating and set a $212.00 target price on shares of Reddit in a report on Friday, August 1st. Two equities 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 issued a Sell rating to the stock. According to data from MarketBeat, Reddit currently has a consensus rating of "Moderate Buy" and an average price target of $175.38.

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.