Coatue Management 13F: Cuts Reddit (RDDT) Stake by $481M

Coatue Management has significantly trimmed its stake in Reddit, Inc. (NYSE:RDDT), according to its latest 13F filing with the SEC. The firm reduced its holdings by 2,760,350 shares, a 49.7% decrease, leaving it with 2,789,891 shares valued at approximately $452.5 million as of the reporting period.

What Changed in Coatue Management's Reddit Position

Coatue Management's latest move saw its Reddit stake drop from 5,550,241 shares to 2,789,891 shares, reflecting a reduction of about 2.76 million shares. This cut nearly halves Coatue's position in the digital community platform, which is now valued at about $452.5 million.

Other Institutional Activity in Reddit

Several other institutional investors have also adjusted their positions in Reddit. BlackRock, Inc. increased its holdings by 103,916 shares, bringing its total to 7,662,524 shares worth approximately $1.03 billion. Baillie Gifford & Co boosted its stake by 1,328,191 shares, ending with 7,309,109 shares valued at about $984.2 million. AllianceBernstein L.P. also expanded its position, adding 1,758,591 shares for a total of 4,871,993 shares, valued at approximately $1.12 billion. However, Capital World Investors reduced its holdings by 1,203,404 shares, leaving it with 4,422,613 shares worth around $595.5 million.

Reddit, Inc. Stock Up 17.4%

Shares of Reddit, Inc. (NYSE:RDDT) are trading near $162.18. The company holds a market cap of approximately $31.2 billion and has a P/E ratio of 46.3, with a forward P/E of 17.9. Reddit's stock has seen a 52-week low of $112.3 and a high of $282.95. The stock's 50-day moving average is $157.98, while the 200-day moving average is $188.94. Reddit demonstrates strong liquidity with a current ratio of 12.74 and a quick ratio of 12.39.

Recent Earnings

In its most recent earnings report, Reddit posted revenue of about $2.47 billion, reflecting a growth rate of 69.1%. The company achieved a net margin of 28.6% and a return on equity of 26.2%. The next earnings release is scheduled for April 30, 2026.

Insider Buying and Selling at Reddit, Inc.

Recent insider activity at Reddit includes several purchases. On June 8, 2026, Sarah Farrell, David Habiger, Mary Porter Gale, Robert Sauerberg, Michael Seibel, and Patricia Filikrushel each acquired 1,714 shares. These transactions were not part of a planned trading program.

Analysts Set New Price Targets

Analysts have been active in setting new price targets for Reddit. On June 4, 2026, Loop Capital maintained its 'buy' rating with a price target of $260. Earlier, on May 1, Piper Sandler reiterated a 'buy' rating with a target of $215, while Cantor Fitzgerald maintained a 'hold' rating with a target of $180. The consensus among analysts is a 'buy' recommendation, with an average target price of $224.92 based on 31 opinions.

About Reddit, Inc.

Reddit, Inc. operates a popular online platform that connects users through discussions and community engagement. Based in San Francisco, California, the company allows users to explore interests, share content, and participate in vibrant communities. Led by CEO Steven Ladd Huffman, Reddit employs about 2,555 people worldwide and is part of the Internet Content & Information industry within the Communication Services sector.

Bottom Line

Coatue Management's substantial reduction in its Reddit holdings underscores a significant shift in its investment strategy. Investors closely monitor such filings to gauge institutional sentiment, though they reflect past positions and may not indicate current views. Reddit remains a prominent player in the digital community space, with analysts generally optimistic about its prospects.