Senvest Management LLC Takes Position in Reddit Inc. $RDDT

Senvest Management LLC acquired a new position in Reddit Inc. (NYSE:RDDT) in the 1st quarter, HoldingsChannel.com reports. The firm acquired 359,392 shares of the company’s stock, valued at approximately $48,392,000. Reddit accounts for about 1.6% of Senvest Management LLC’s investment portfolio, making the stock its 25th biggest holding.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Truist Financial Corp raised its position in Reddit by 67.7% during the fourth quarter. Truist Financial Corp now owns 15,659 shares of the company’s stock valued at $3,600,000 after acquiring an additional 6,321 shares in the last quarter. Swiss Life Asset Management Ltd lifted its holdings in Reddit by 63.2% in the fourth quarter. Swiss Life Asset Management Ltd now owns 32,003 shares of the company’s stock valued at $7,357,000 after acquiring an additional 12,398 shares during the period. Calamos Advisors LLC purchased a new stake in Reddit in the 4th quarter worth approximately $2,299,000. Handelsbanken Fonder AB boosted its position in Reddit by 22.9% in the 4th quarter. Handelsbanken Fonder AB now owns 37,000 shares of the company’s stock worth $8,505,000 after purchasing an additional 6,900 shares in the last quarter. Finally, Berkshire Capital Holdings Inc. grew its stake in shares of Reddit by 326,400.0% during the 4th quarter. Berkshire Capital Holdings Inc. now owns 32,650 shares of the company’s stock worth $7,505,000 after purchasing an additional 32,640 shares during the period.

More Reddit News

Here 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 Stock Down 0.0%

RDDT stock opened at $168.75 on Friday. The stock has a market capitalization of $32.49 billion, a P/E ratio of 48.22 and a beta of 1.93. The firm has a 50-day simple moving average of $174.67 and a 200-day simple moving average of $167.69. Reddit Inc. has a 52 week low of $119.27 and a 52 week high of $282.95.

Reddit (NYSE:RDDT) last posted its quarterly earnings data on Thursday, April 30th. The company reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.39. Reddit had a return on equity of 25.48% and a net margin of 28.60%.The company had revenue of $663.41 million for the quarter, compared to analysts’ expectations of $607.74 million. During the same period in the previous year, the firm posted $0.13 EPS. Reddit’s revenue was up 69.1% compared to the same quarter last year. On average, analysts expect that Reddit Inc. will post 4.85 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on RDDT shares. Loop Capital reaffirmed a “buy” rating and set a $260.00 target price on shares of Reddit in a report on Thursday, June 4th. Raymond James Financial set a $180.00 price target on shares of Reddit and gave the stock a “market perform” rating in a report on Friday, May 1st. UBS Group restated a “mixed” rating on shares of Reddit in a research report on Thursday, July 9th. Jefferies Financial Group set a $250.00 price objective on shares of Reddit in a report on Friday, July 10th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $225.00 price objective on shares of Reddit in a research report on Friday, May 1st. Nineteen research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $232.48.

Insider Buying and Selling at Reddit

In related news, CEO Steve Ladd Huffman sold 18,000 shares of the company’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $178.26, for a total transaction of $3,208,680.00. Following the completion of the sale, the chief executive officer owned 373,814 shares of the company’s stock, valued at approximately $66,636,083.64. This represents a 4.59% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Michelle Marie Reynolds sold 808 shares of the company’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $200.00, for a total value of $161,600.00. Following the completion of the sale, the chief accounting officer owned 15,060 shares of the company’s stock, valued at $3,012,000. This trade represents a 5.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 169,141 shares of company stock worth $28,680,845. Corporate insiders own 28.48% of the company’s stock.

Reddit Profile

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.