Brooklyn FI LLC Has $3.99 Million Holdings in Reddit Inc. $RDDT

Brooklyn FI LLC trimmed its position in Reddit Inc. (NYSE:RDDT) by 10.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,506 shares of the company’s stock after selling 3,024 shares during the quarter. Reddit accounts for 1.0% of Brooklyn FI LLC’s portfolio, making the stock its 28th largest position. Brooklyn FI LLC’s holdings in Reddit were worth $3,991,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of RDDT. Vanguard Group Inc. boosted its position in Reddit by 11.1% in the first quarter. Vanguard Group Inc. now owns 10,198,552 shares of the company’s stock valued at $1,069,828,000 after buying an additional 1,017,162 shares in the last quarter. Alliancebernstein L.P. raised its stake in shares of Reddit by 103.0% in the first quarter. Alliancebernstein L.P. now owns 5,659,990 shares of the company’s stock valued at $593,733,000 after acquiring an additional 2,871,232 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its holdings in shares of Reddit by 10.6% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 4,073,939 shares of the company’s stock worth $427,357,000 after acquiring an additional 389,761 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of 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 in the last quarter. Finally, Scge Management L.P. grew its position in Reddit by 121.1% during 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 last quarter.

Analysts Set New Price Targets

Several research analysts recently issued reports on RDDT shares. Morgan Stanley upped their price target on shares of Reddit from $170.00 to $230.00 and gave the stock an “overweight” rating in a research report on Friday, August 1st. Oppenheimer upped their target price on shares of Reddit from $215.00 to $300.00 and gave the stock an “outperform” rating in a research report on Tuesday. Raymond James Financial reiterated a “strong-buy” rating and issued a $225.00 price objective (up from $175.00) on shares of Reddit in a research report on Friday, August 1st. Sanford C. Bernstein boosted their price target on shares of Reddit from $130.00 to $150.00 and gave the stock a “market perform” rating in a research note on Tuesday, July 22nd. Finally, Needham & Company LLC raised their price target on Reddit from $215.00 to $300.00 and gave the stock a “buy” rating in a research report on Monday. Two 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 assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $191.42.

Insider Transactions at Reddit

In other news, insider Benjamin Seong Lee sold 6,426 shares of the firm’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $220.28, for a total value of $1,415,519.28. Following the completion of the transaction, the insider owned 83,445 shares in the company, valued at $18,381,264.60. This trade represents a 7.15% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Jennifer L. Wong sold 30,806 shares of the company’s stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $218.55, for a total value of $6,732,651.30. Following the sale, the chief operating officer owned 1,326,709 shares in the company, valued at $289,952,251.95. The trade was a 2.27% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 360,126 shares of company stock worth $73,529,359. 34.25% of the stock is owned by insiders.

Reddit Stock Performance

Shares of Reddit stock opened at $266.64 on Thursday. The firm has a market cap of $49.90 billion, a PE ratio of 242.40, a P/E/G ratio of 4.20 and a beta of 2.40. The business’s 50 day simple moving average is $203.32 and its 200 day simple moving average is $147.93. Reddit Inc. has a 52-week low of $61.54 and a 52-week high of $270.36.

Reddit (NYSE:RDDT) last issued its quarterly earnings results on Thursday, July 31st. The company reported $0.45 earnings per share for the quarter, topping 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 company had revenue of $499.63 million during the quarter, compared to analysts’ expectations of $424.07 million. During the same period last year, the business earned ($0.06) EPS. The business’s quarterly revenue was up 77.9% on a year-over-year basis. Reddit has set its Q3 2025 guidance at EPS. As a group, equities research analysts predict that Reddit Inc. will post 1.12 EPS for the current year.

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.