11 Hot Large Cap Stocks to Buy According to Hedge Funds

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3. Reddit, Inc. (NYSE:RDDT)

Market Cap: $42.13 billion

Gain Over the Past 1 Month: 40.16%

Number of Hedge Fund Holders: 74

Reddit, Inc. (NYSE:RDDT) is one of the best hot large cap stocks to buy according to hedge funds. In a report released on August 22, Brad Erickson from RBC Capital maintained a Hold rating on Reddit, Inc. (NYSE:RDDT) with a price target of $210.00.

Similarly, Argus Research initiated coverage of Reddit, Inc. (NYSE:RDDT) with a Buy rating on August 18, setting a price target of $250.00.

The firm told investors in a research note that Reddit, Inc. (NYSE:RDDT) boasts an impressive growth record, with its recent results trending positively.

It added that while the stock is not cheap, its growth runway is promising, and that justifies the premium.

Reddit, Inc. (NYSE:RDDT) operates a social networking, entertainment, and news website that allows registered community members to share and submit content.

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