Reddit Inc. $RDDT is Renaissance Capital LLC’s 2nd Largest Position

Renaissance Capital LLC boosted its stake in Reddit Inc. (NYSE:RDDT) by 204.1% in the second quarter, Holdings Channel reports. The institutional investor owned 105,340 shares of the company’s stock after acquiring an additional 70,704 shares during the quarter. Reddit makes up approximately 11.1% of Renaissance Capital LLC’s holdings, making the stock its 2nd largest position. Renaissance Capital LLC’s holdings in Reddit were worth $15,861,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Union Bancaire Privee UBP SA bought a new position in shares of Reddit during the 2nd quarter valued at $2,078,000. Janney Montgomery Scott LLC raised its holdings in shares of Reddit by 44.0% during the 2nd quarter. Janney Montgomery Scott LLC now owns 13,223 shares of the company’s stock valued at $1,991,000 after purchasing an additional 4,040 shares in the last quarter. Venture Visionary Partners LLC bought a new position in shares of Reddit during the 2nd quarter valued at $2,409,000. Wolff Wiese Magana LLC raised its holdings in shares of Reddit by 77,200.0% during the 2nd quarter. Wolff Wiese Magana LLC now owns 1,546 shares of the company’s stock valued at $233,000 after purchasing an additional 1,544 shares in the last quarter. Finally, GC Wealth Management RIA LLC bought a new position in shares of Reddit during the 2nd quarter valued at $7,974,000.

Reddit Stock Performance

Shares of Reddit stock opened at $241.98 on Tuesday. Reddit Inc. has a twelve month low of $64.51 and a twelve month high of $282.95. The firm has a market cap of $45.29 billion, a P/E ratio of 219.98, a price-to-earnings-growth ratio of 3.78 and a beta of 2.38. The firm’s 50-day simple moving average is $219.74 and its 200-day simple moving average is $154.18.

Reddit (NYSE:RDDT) last announced its earnings results on Thursday, July 31st. The company reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $424.07 million. During the same period in the previous year, the firm posted ($0.06) earnings per share. The company’s revenue was up 77.9% on a year-over-year basis. Reddit has set its Q3 2025 guidance at EPS. On average, equities analysts forecast that Reddit Inc. will post 1.12 earnings per share for the current fiscal year.

Analysts Set New Price Targets

RDDT has been the topic of several recent analyst reports. Piper Sandler lifted their target price on shares of Reddit from $210.00 to $290.00 and gave the stock an “overweight” rating in a report on Thursday, September 18th. Citigroup restated an “outperform” rating on shares of Reddit in a research report on Thursday, September 18th. Bank of America raised their price target on shares of Reddit from $130.00 to $150.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 30th. Robert W. Baird raised their price target on shares of Reddit from $177.00 to $240.00 and gave the stock a “neutral” rating in a research report on Thursday. Finally, Wolfe Research upgraded shares of Reddit to an “outperform” rating in a research report on Sunday, August 3rd. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $201.58.

Insider Activity at Reddit

In other Reddit news, CEO Steve Ladd Huffman sold 18,000 shares of the business’s stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $223.41, for a total value of $4,021,380.00. Following the completion of the transaction, the chief executive officer directly owned 494,104 shares of the company’s stock, valued at approximately $110,387,774.64. The trade was a 3.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Jennifer L. Wong sold 40,967 shares of the business’s stock in a transaction dated Friday, August 22nd. The stock was 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 approximately $26,452,872.54. This represents a 25.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 379,834 shares of company stock valued at $82,388,799. Insiders own 34.25% of the company’s stock.

Reddit Company 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.