Jennison Associates LLC Sells 1,484,585 Shares of Reddit Inc. $RDDT

Jennison Associates LLC cut its stake in shares of Reddit Inc. (NYSE:RDDT) by 99.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,156 shares of the company’s stock after selling 1,484,585 shares during the quarter. Jennison Associates LLC’s holdings in Reddit were worth $927,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of RDDT. CWM LLC lifted its holdings in shares of Reddit by 100.0% in the 1st quarter. CWM LLC now owns 256 shares of the company’s stock worth $27,000 after acquiring an additional 128 shares during the last quarter. Stone House Investment Management LLC bought a new stake in shares of Reddit in the 1st quarter worth approximately $31,000. Financial Perspectives Inc bought a new stake in shares of Reddit in the 2nd quarter worth approximately $34,000. Geneos Wealth Management Inc. lifted its holdings in shares of Reddit by 344.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 369 shares of the company’s stock worth $39,000 after acquiring an additional 286 shares during the last quarter. Finally, Olde Wealth Management LLC bought a new stake in shares of Reddit in the 1st quarter worth approximately $46,000.

Reddit Stock Up 7.6%

Shares of NYSE RDDT opened at $209.15 on Friday. Reddit Inc. has a 52 week low of $79.75 and a 52 week high of $282.95. The firm’s fifty day moving average is $223.88 and its 200 day moving average is $170.78. The company has a market cap of $39.15 billion, a price-to-earnings ratio of 120.20, a PEG ratio of 3.15 and a beta of 2.23.

Reddit (NYSE:RDDT) last issued its earnings results on Thursday, October 30th. The company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.50 by $0.30. Reddit had a net margin of 18.33% and a return on equity of 15.55%. The company had revenue of $585.00 million for the quarter, compared to the consensus estimate of $546.65 million. During the same period in the previous year, the firm earned $0.16 earnings per share. The firm’s revenue for the quarter was up 67.9% on a year-over-year basis. Reddit has set its Q4 2025 guidance at EPS. Equities research analysts anticipate that Reddit Inc. will post 1.12 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have recently weighed in on RDDT. Zacks Research upgraded shares of Reddit from a “hold” rating to a “strong-buy” rating in a report on Wednesday. Oppenheimer boosted their price objective on shares of Reddit from $215.00 to $300.00 and gave the stock an “outperform” rating in a report on Tuesday, September 16th. Truist Financial set a $270.00 price objective on shares of Reddit in a report on Friday. JMP Securities restated a “market outperform” rating and issued a $300.00 price objective on shares of Reddit in a report on Friday, October 3rd. Finally, Piper Sandler restated an “overweight” rating and issued a $290.00 price objective on shares of Reddit in a report on Friday, October 3rd. Three research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $225.71.

Insider Activity at Reddit

In other Reddit news, CFO Andrew Vollero sold 30,000 shares of the business’s stock in a transaction on 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 transaction, the chief financial officer directly owned 284,168 shares of the company’s stock, valued at approximately $61,974,199.12. The trade was a 9.55% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Steve Ladd Huffman sold 18,000 shares of the business’s stock in a transaction on 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 transaction, 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 ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 419,626 shares of company stock valued at $94,485,676 in the last 90 days. 34.25% of the stock is owned by company insiders.

Reddit 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.