Reddit, Inc.
In the published model solve dated 2026-Q2, anchored at $153.35, Reddit, Inc. (RDDT) is priced for today's economics sustained for ~9.9 years. boothcheck publishes no house fair value, target price, or buy/sell rating; individual model outputs and user-controlled scenarios are analytical inputs, not Boothcheck targets. The narrative was composed June 28, 2026 from SEC EDGAR filings.
The trajectory is extraordinary. Reddit grew revenue 69% to $663 million in the first quarter of 2026, its seventh straight quarter above 60% growth, with advertising revenue up 74%, gross margins over 90%, and an adjusted EBITDA margin of 40%. Growth and profitability are inflecting together. The price asks for that to continue almost indefinitely. At $174.98 the market pays roughly 87 times company-wide operating income, which implies the company holds its self-funding growth ceiling for abou
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774 institutional managers reported holding RDDT in 13F filings for the quarter ended 2026-03-31. Together they hold about 57% of the company; the top 10 hold 26%. 120 opened new positions that quarter. Held by Vanguard Group, BlackRock, Baillie Gifford, among others. On the short side, 16.5M shares were sold short as of the 2026-06-15 count, about 8% of shares outstanding (3.5 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
Open-market insider buys at RDDT over the trailing three years: 2024: 2 buys totaling $442k; 2025: 3 buys totaling $199k; 2026: 4 buys totaling $8.87M. 13 officers and directors are on file.
Code P open-market purchases from SEC Form 4 filings, non-derivative, excluding scheduled 10b5-1 plans. Nothing here is investment advice.
RDDT's recent reports: the day-one move, then what the following quarter actually did.
| report | day one | next quarter |
|---|---|---|
| 2024-08-08 | -10.6% | +27.2% |
| 2024-10-31 | +45.6% | +39.1% |
| 2025-02-14 | -4.0% | -51.0% |
| 2025-05-03 | -2.5% | +38.0% |
Day-one is the close-to-close move around the filing. Nothing here is investment advice.
RDDT's latest 8-K filings: 2026-08-12 (items 5.02, 9.01); 2026-07-30 (items 2.02, 9.01); 2026-06-10 (items 5.07, 9.01); 2026-04-30 (items 2.02, 9.01); 2026-02-05 (items 2.02, 8.01, 9.01).
Item codes are the SEC's own classification of what each report discloses. Dates link to the filing on EDGAR. Nothing here is investment advice.
Model solve date: 2026-Q2
Narrative composed: June 28, 2026
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For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.