Elwood Capital Partners LP Has $3.67 Million Stock Holdings in Reddit Inc. $RDDT

Elwood Capital Partners LP lifted its holdings in shares of Reddit Inc. (NYSE:RDDT) by 40.0% in the 1st quarter, HoldingsChannel.com reports. The fund owned 35,000 shares of the company’s stock after purchasing an additional 10,000 shares during the quarter. Reddit comprises approximately 3.1% of Elwood Capital Partners LP’s holdings, making the stock its 10th biggest position. Elwood Capital Partners LP’s holdings in Reddit were worth $3,672,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Allstate Corp bought a new position in shares of Reddit during the 1st quarter worth approximately $311,000. Circle Wealth Management LLC boosted its stake in shares of Reddit by 16.1% during the 1st quarter. Circle Wealth Management LLC now owns 3,678 shares of the company’s stock worth $386,000 after acquiring an additional 509 shares during the period. T. Rowe Price Investment Management Inc. boosted its stake in shares of Reddit by 10.6% during 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 during the period. Erste Asset Management GmbH bought a new position in shares of Reddit during the 1st quarter worth approximately $8,617,000. Finally, Hsbc Holdings PLC boosted its stake in Reddit by 2,660.0% in the 1st quarter. Hsbc Holdings PLC now owns 158,147 shares of the company’s stock valued at $16,551,000 after purchasing an additional 152,417 shares during the period.

Reddit Stock Performance

NYSE:RDDT opened at $217.2850 on Friday. The stock has a fifty day moving average price of $169.82 and a 200-day moving average price of $142.17. The company has a market cap of $40.67 billion, a price-to-earnings ratio of 197.53, a PEG ratio of 3.47 and a beta of 2.30. Reddit Inc. has a fifty-two week low of $55.02 and a fifty-two week high of $253.14.

Reddit (NYSE:RDDT) last released its earnings results on Thursday, July 31st. The company reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.25. The firm had revenue of $499.63 million during the quarter, compared to the consensus estimate of $424.07 million. Reddit had a return on equity of 9.93% and a net margin of 12.97%.The company’s revenue was up 77.9% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.06) EPS. Reddit has set its Q3 2025 guidance at EPS. Research analysts predict that Reddit Inc. will post 1.12 EPS for the current fiscal year.

Insider Buying and Selling at Reddit

In related news, insider Benjamin Seong Lee sold 6,426 shares of the company’s stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $220.28, for a total transaction of $1,415,519.28. Following the completion of the sale, the insider directly owned 83,445 shares in the company, valued at $18,381,264.60. This represents a 7.15% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Jennifer L. Wong sold 32,379 shares of the company’s stock in a transaction on Monday, August 18th. The stock was sold at an average price of $242.05, for a total value of $7,837,336.95. Following the sale, the chief operating officer owned 1,395,628 shares of the company’s stock, valued at approximately $337,811,757.40. This represents a 2.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 411,004 shares of company stock worth $64,005,737 over the last quarter. 34.25% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms recently issued reports on RDDT. Piper Sandler boosted their price target on Reddit from $150.00 to $210.00 and gave the company an “overweight” rating in a research note on Friday, August 1st. Royal Bank Of Canada restated a “sector perform” rating and issued a $210.00 price target on shares of Reddit in a research note on Friday. JPMorgan Chase & Co. boosted their price target on Reddit from $145.00 to $190.00 and gave the company a “neutral” rating in a research note on Friday, August 1st. Roth Mkm boosted their price target on Reddit from $120.00 to $130.00 and gave the company a “neutral” rating in a research note on Friday, May 2nd. Finally, Wolfe Research upgraded Reddit to an “outperform” rating in a research note on Sunday, August 3rd. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $175.38.

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.