RedditRDDT
Market Cap: $9.43B
About: Reddit Inc is engaged in providing internet content. The company provides online services that include gaming, sports, business, crypto, television and others.
Fund manager confidence
Based on 2024 Q2 SEC filings by fund managers ($100M+ AUM)
137% more first-time investments, than exits
New positions opened: 83 | Existing positions closed: 35
105% more repeat investments, than reductions
Existing positions increased: 39 | Existing positions reduced: 19
96% more capital invested
Capital invested by funds: $1.02B [Q1] → $2.01B (+$984M) [Q2]
50% more funds holding in top 10
Funds holding in top 10: 6 [Q1] → 9 (+3) [Q2]
38% more funds holding
Funds holding: 126 [Q1] → 174 (+48) [Q2]
19.13% more ownership
Funds ownership: 51.51% [Q1] → 70.64% (+19.13%) [Q2]
0% less call options, than puts
Call options by funds: $215M | Put options by funds: $216M
Research analyst outlook
18 Wall Street Analysts provided 1 year price targets over the past 3 months
18 analyst ratings
Needham Laura Martin 50% 1-year accuracy 71 / 141 met price target | 32%upside $75 | Buy Reiterated | 8 Aug 2024 |
JP Morgan Doug Anmuth 77% 1-year accuracy 30 / 39 met price target | 4%upside $59 | Neutral Maintained | 7 Aug 2024 |
B of A Securities Justin Post 64% 1-year accuracy 7 / 11 met price target | 6%upside $60 | Neutral Maintained | 7 Aug 2024 |
Roth MKM Rohit Kulkarni 55% 1-year accuracy 17 / 31 met price target | 16%upside $66 | Buy Maintained | 7 Aug 2024 |
Piper Sandler Thomas Champion 51% 1-year accuracy 21 / 41 met price target | 23%upside $70 | Overweight Maintained | 7 Aug 2024 |
Financial journalist opinion
Based on 15 articles about RDDT published over the past 30 days