Jennison Associates LLC Has $278,000 Stock Holdings in Reddit Inc. $RDDT

Jennison Associates LLC trimmed its holdings in shares of Reddit Inc. (NYSE:RDDT) by 66.3% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,063 shares of the company’s stock after selling 4,053 shares during the quarter. Jennison Associates LLC’s holdings in Reddit were worth $278,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of RDDT. Ascentis Independent Advisors bought a new stake in shares of Reddit during the first quarter worth $30,000. LOM Asset Management Ltd bought a new stake in Reddit in the 4th quarter valued at $33,000. Geneos Wealth Management Inc. lifted its position in Reddit by 344.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 369 shares of the company’s stock valued at $39,000 after acquiring an additional 286 shares in the last quarter. V Square Quantitative Management LLC acquired a new position in Reddit in the 1st quarter worth $43,000. Finally, Summit Securities Group LLC acquired a new position in Reddit in the 4th quarter worth $46,000.

Key Reddit News

Here are the key news stories impacting Reddit this week:

• Positive Sentiment: DA Davidson reaffirmed its buy rating on Reddit and set a $200 price target, implying upside from current levels. Benzinga
• Neutral Sentiment: Wall Street expects Reddit to report earnings growth in next week’s results, but Zacks noted the stock does not currently have the ideal setup for a likely earnings beat. Zacks
• Neutral Sentiment: Some coverage framed the recent pullback as either a buying opportunity or a valuation risk, reflecting debate over whether the stock’s premium is justified after its strong run. Yahoo Finance
• Negative Sentiment: Reports that Reddit may rethink its $60 million Google AI deal have raised concerns that a renewal delay or dispute could weaken a key licensing relationship. Yahoo Finance
• Negative Sentiment: Investors are also reacting to fears that Google’s AI summaries could reduce traffic to Reddit, which would pressure the platform’s advertising economics and near-term growth narrative. CNBC

Insiders Place Their Bets

In other news, COO Jennifer L. Wong sold 39,167 shares of the company’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $158.52, for a total transaction of $6,208,752.84. Following the sale, the chief operating officer owned 1,088,451 shares in the company, valued at $172,541,252.52. This represents a 3.47% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 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 stock was sold at an average price of $200.00, for a total value of $161,600.00. Following the sale, the chief accounting officer owned 15,060 shares in the company, valued at approximately $3,012,000. This represents a 5.09% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 169,141 shares of company stock valued at $28,680,845 in the last 90 days. 28.48% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts have issued reports on RDDT shares. Citizens Jmp dropped their price target on Reddit from $250.00 to $240.00 and set a “market outperform” rating on the stock in a research note on Friday, May 1st. Loop Capital reiterated a “buy” rating and set a $260.00 price objective on shares of Reddit in a report on Thursday, June 4th. DA Davidson reissued a “buy” rating and issued a $200.00 target price on shares of Reddit in a research report on Thursday. Weiss Ratings restated a “hold (c)” rating on shares of Reddit in a research note on Friday, May 8th. Finally, Truist Financial set a $265.00 price target on Reddit in a research report on Friday, May 1st. Nineteen investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $232.48.

Reddit Price Performance

Shares of NYSE RDDT opened at $168.77 on Friday. The stock has a market capitalization of $32.49 billion, a price-to-earnings ratio of 48.22 and a beta of 1.93. The business has a 50-day moving average of $174.46 and a 200-day moving average of $167.68. Reddit Inc. has a fifty-two week low of $119.27 and a fifty-two week high of $282.95.

Reddit (NYSE:RDDT) last released its earnings results 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 business had revenue of $663.41 million for the quarter, compared to analyst estimates of $607.74 million. During the same quarter in the prior year, the company posted $0.13 earnings per share. Reddit’s revenue was up 69.1% on a year-over-year basis. On average, sell-side analysts expect that Reddit Inc. will post 4.85 EPS for the current year.

Reddit Company 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.