Woodline Partners LP Has $9.74 Million Holdings in Reddit Inc. $RDDT

Key Points

• Woodline Partners LP significantly increased its holdings in Reddit Inc. by 302.7% during Q1, owning nearly $9.74 million in shares.
• Reddit reported earnings of $0.45 per share for the last quarter, exceeding estimates and showing a 77.9% year-over-year revenue increase.
• Analysts have given Reddit a consensus rating of "Moderate Buy", with target prices ranging from $151 to $250 based on recent upgrades from several firms.

Woodline Partners LP lifted its holdings in Reddit Inc. (NYSE:RDDT - Free Report) by 302.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 92,808 shares of the company's stock after purchasing an additional 69,760 shares during the period. Woodline Partners LP owned 0.05% of Reddit worth $9,736,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of RDDT. Alliancebernstein L.P. raised its holdings in Reddit by 103.0% in the 1st quarter. Alliancebernstein L.P. now owns 5,659,990 shares of the company's stock worth $593,733,000 after acquiring an additional 2,871,232 shares during the period. Whale Rock Capital Management LLC bought a new position in Reddit in the 4th quarter worth $204,054,000. Vanguard Group Inc. raised its holdings in Reddit by 11.1% in the 1st 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 during the period. JPMorgan Chase & Co. raised its holdings in Reddit by 98.2% in the 1st quarter. JPMorgan Chase & Co. now owns 1,907,495 shares of the company's stock worth $200,096,000 after acquiring an additional 944,847 shares during the period. Finally, Scge Management L.P. raised its holdings in Reddit by 121.1% in the 1st quarter. Scge Management L.P. now owns 1,612,000 shares of the company's stock worth $169,099,000 after acquiring an additional 883,000 shares during the period.

Reddit Price Performance

NYSE RDDT opened at $260.40 on Friday. The company's fifty day moving average is $194.36 and its two-hundred day moving average is $145.16. Reddit Inc. has a 52-week low of $57.22 and a 52-week high of $266.64. The firm has a market capitalization of $48.74 billion, a price-to-earnings ratio of 236.73, a P/E/G ratio of 4.11 and a beta of 2.40.

Reddit (NYSE:RDDT - Get Free Report) last issued its earnings results on Thursday, July 31st. The company reported $0.45 earnings per share 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 business had revenue of $499.63 million for the quarter, compared to analyst estimates of $424.07 million. During the same period in the previous year, the business earned ($0.06) EPS. The firm's revenue was up 77.9% on a year-over-year basis. Reddit has set its Q3 2025 guidance at EPS. As a group, sell-side analysts expect that Reddit Inc. will post 1.12 earnings per share for the current fiscal year.

Insider Buying and Selling at Reddit

In other news, CEO Steve Ladd Huffman sold 18,000 shares of Reddit stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $223.41, for a total transaction of $4,021,380.00. Following the sale, the chief executive officer directly owned 494,104 shares in the company, valued at approximately $110,387,774.64. The trade was a 3.51% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Andrew Vollero sold 30,000 shares of Reddit stock in a transaction dated 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 sale, the chief financial officer owned 284,168 shares in the company, valued at approximately $61,974,199.12. This trade represents a 9.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 500,777 shares of company stock worth $88,572,016 in the last 90 days. 34.25% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts recently commented on RDDT shares. Argus started coverage on shares of Reddit in a report on Monday, August 18th. They issued a "buy" rating and a $250.00 target price on the stock. Robert W. Baird lifted their target price on shares of Reddit from $120.00 to $151.00 and gave the stock a "neutral" rating in a report on Tuesday, July 8th. Guggenheim lifted their target price on shares of Reddit from $165.00 to $215.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Raymond James Financial restated a "strong-buy" rating and issued a $225.00 price target (up from $175.00) on shares of Reddit in a research report on Friday, August 1st. Finally, The Goldman Sachs Group restated a "neutral" rating and issued a $212.00 price target on shares of Reddit in a research report on Friday, August 1st. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $180.58.

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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