Tiger Global Management LLC Cuts Position in Reddit Inc. $RDDT
Tiger Global Management LLC trimmed its holdings in shares of Reddit Inc. (NYSE:RDDT - Free Report) by 35.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,500,000 shares of the company's stock after selling 1,343,915 shares during the period. Reddit comprises 1.5% of Tiger Global Management LLC's investment portfolio, making the stock its 18th largest position. Tiger Global Management LLC owned 1.30% of Reddit worth $336,625,000 as of its most recent SEC filing. Several other institutional investors also recently bought and sold shares of the business. LOM Asset Management Ltd acquired a new position in shares of Reddit during the 4th quarter valued at $33,000. Summit Securities Group LLC purchased a new position in Reddit in the fourth quarter valued at about $46,000. Sound Income Strategies LLC purchased a new position in Reddit in the fourth quarter valued at about $47,000. ORG Partners LLC boosted its position in shares of Reddit by 105.9% in the fourth quarter. ORG Partners LLC now owns 208 shares of the company's stock worth $48,000 after buying an additional 107 shares during the period. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA grew its stake in shares of Reddit by 214.3% in the fourth quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 220 shares of the company's stock valued at $51,000 after buying an additional 150 shares in the last quarter. Insiders Place Their BetsIn other news, CEO Steve Ladd Huffman sold 18,000 shares of the business's stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $178.26, for a total transaction of $3,208,680.00. Following the completion of the transaction, the chief executive officer directly owned 373,814 shares in the company, valued at approximately $66,636,083.64. The trade was a 4.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Jennifer L. Wong sold 39,167 shares of the stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $158.52, for a total value of $6,208,752.84. Following the completion of the transaction, the chief operating officer directly owned 1,088,451 shares of the company's stock, valued at $172,541,252.52. This trade represents a 3.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 169,141 shares of company stock worth $28,680,845. Insiders own 28.48% of the company's stock. Wall Street Analysts Forecast GrowthRDDT has been the topic of several recent research reports. Weiss Ratings reissued a "hold (c)" rating on shares of Reddit in a research report on Friday, May 8th. Citigroup reaffirmed a "market outperform" rating on shares of Reddit in a research note on Tuesday, May 26th. Oppenheimer restated an "outperform" rating and set a $225.00 target price on shares of Reddit in a research note on Friday, May 1st. Zacks Research cut Reddit from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, June 3rd. Finally, Needham & Company LLC restated a "buy" rating and set a $300.00 price objective on shares of Reddit in a report on Wednesday, June 24th. Nineteen analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $232.48.Get Our Latest Research Report on RedditTrending Headlines about RedditHere are the key news stories impacting Reddit this week:
Positive Sentiment: Reddit was added to Wedbush’s Best Ideas list ahead of Q2 results, and DA Davidson reiterated a Buy rating with a $200 price target, signaling Wall Street still sees meaningful upside. Reddit added to Wedbush Best Ideas List ahead of Q2 results
Positive Sentiment: Several recent bullish notes say Reddit’s fundamentals remain strong, with rapid revenue growth, high margins, and ad-driven expansion supporting the stock despite valuation concerns. Reddit: Ignore The Potential Google Scuffle And Carry On
Positive Sentiment: Investors are looking for a Q2 beat, with guidance pointing to roughly 43% to 45% year-over-year revenue growth and a strong EBITDA margin, which could reinforce the growth story if delivered. Reddit: Why I'm Staying Bullish Into The Q2 Print
Neutral Sentiment: Analyst commentary this week has focused on Reddit alongside other communication-services names, but no major new company-specific catalyst was disclosed in the headline item. Analysts Offer Insights on Communication Services Companies
Neutral Sentiment: Reddit’s upcoming earnings report is expected to show growth, but some screening models suggest the setup is not ideal for a clean earnings beat, keeping expectations mixed. Reddit Inc. (RDDT) Reports Next Week: Wall Street Expects Earnings Growth
Negative Sentiment: The main overhang is renewed uncertainty around Reddit’s reported $60 million-per-year Google AI licensing deal, with some reports suggesting Reddit may rethink the agreement if renewal talks stall or content restrictions emerge. Reddit (RDDT) May Rethink $60 Million Google AI Deal As Renewal Talks Drag
Negative Sentiment: Recent reports of a possible Google content restriction or AI feud triggered a sharp drop in the stock and pushed Reddit below key moving averages, signaling weaker momentum in the near term. Reddit stock plunges on report of possible Google content restrictions
Reddit Price PerformanceNYSE:RDDT opened at $168.75 on Friday. Reddit Inc. has a 12-month low of $119.27 and a 12-month high of $282.95. The firm has a market capitalization of $32.49 billion, a P/E ratio of 48.22 and a beta of 1.93. The business has a 50 day simple moving average of $174.67 and a 200 day simple moving average of $167.69. Reddit (NYSE:RDDT - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The company reported $1.01 EPS for the quarter, topping the consensus estimate of $0.62 by $0.39. The business had revenue of $663.41 million during the quarter, compared to analyst estimates of $607.74 million. Reddit had a net margin of 28.60% and a return on equity of 25.48%. The company's quarterly revenue was up 69.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.13 earnings per share. Research analysts anticipate that Reddit Inc. will post 4.85 EPS for the current fiscal year. Reddit Company Profile (Free Report)Reddit is an online social news aggregation, discussion and content-sharing platform organized around user-created communities called "subreddits," each focused on a particular topic or interest. Registered users submit links, text posts, images and video, and community members vote and comment to surface popular content. The site is accessed via its web platform and mobile apps for iOS and Android, and it supports live events such as Ask Me Anything (AMA) sessions and community-driven discussions.
Founded in 2005 by Steve Huffman and Alexis Ohanian, Reddit is headquartered in San Francisco and serves a global audience with particularly large user bases in the United States and other English-speaking markets.Featured StoriesThis instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.Before you consider Reddit, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Reddit wasn't on the list.While Reddit currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.Discover the next wave of investment opportunities with our report, 7 Stocks That Will Be Magnificent in 2026. Explore companies poised to replicate the growth, innovation, and value creation of the tech giants dominating today's markets.Get This Free Report
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