Reddit Inc. $RDDT Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC reduced its stake in Reddit Inc. (NYSE:RDDT) by 47.7% during the 4th quarter, Holdings Channel reports. The fund owned 65,302 shares of the company’s stock after selling 59,484 shares during the period. Hsbc Holdings PLC’s holdings in Reddit were worth $15,062,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. GW&K Investment Management LLC purchased a new stake in Reddit during the 3rd quarter worth about $30,000. LOM Asset Management Ltd purchased a new position in Reddit in the 4th quarter valued at about $33,000. Noble Wealth Management PBC purchased a new position in Reddit in the 4th quarter valued at about $34,000. Summit Securities Group LLC acquired a new stake in shares of Reddit during the 4th quarter worth about $46,000. Finally, Sound Income Strategies LLC acquired a new stake in shares of Reddit during the 4th quarter worth about $47,000.

Reddit News Summary

Here are the key news stories impacting Reddit this week:

• Positive Sentiment: Needham reaffirmed its Buy rating on Reddit and raised its price target to $300, implying meaningful upside if the company continues executing on growth and monetization. Benzinga report on Needham rating
• Positive Sentiment: Yahoo Finance highlighted Reddit’s push toward 1 billion users and said improving profitability could open new opportunities in advertising and AI-related monetization. Yahoo Finance article
• Positive Sentiment: Analysts and market coverage continue to describe Reddit as a moderate buy, suggesting Wall Street still sees room for growth despite recent volatility. American Banking News article
• Neutral Sentiment: Reddit is getting broader public attention, including a Zacks note saying the stock has been drawing unusually heavy interest from users and investors lately. Zacks article
• Negative Sentiment: Technical commentary suggests the stock’s recent selloff may still be in play, with one analysis saying the $166 support level could determine whether downside has gone too far. Investing.com article

Insider Transactions at Reddit

In related news, COO Jennifer L. Wong sold 39,166 shares of the firm’s stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $176.94, for a total value of $6,930,032.04. Following the transaction, the chief operating officer owned 1,050,339 shares in the company, valued at approximately $185,846,982.66. This trade represents a 3.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Steve Ladd Huffman sold 18,000 shares of Reddit stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $178.26, for a total transaction of $3,208,680.00. Following the transaction, the chief executive officer directly owned 373,814 shares in the company, valued at approximately $66,636,083.64. This trade represents a 4.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 241,000 shares of company stock worth $39,303,645. 28.48% of the stock is currently owned by company insiders.

Reddit Trading Down 1.8%

Shares of Reddit stock opened at $157.82 on Friday. The business’s fifty day moving average price is $162.33 and its 200 day moving average price is $173.60. Reddit Inc. has a twelve month low of $119.27 and a twelve month high of $282.95. The stock has a market capitalization of $30.38 billion, a P/E ratio of 45.09 and a beta of 1.91.

Reddit (NYSE:RDDT) last announced its quarterly earnings results on Thursday, April 30th. The company reported $1.01 EPS for the quarter, topping the consensus estimate of $0.62 by $0.39. The company had revenue of $663.41 million during the quarter, compared to analyst estimates of $607.74 million. Reddit had a return on equity of 25.48% and a net margin of 28.60%.The firm’s revenue was up 69.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.13 earnings per share. As a group, sell-side analysts predict that Reddit Inc. will post 4.83 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on RDDT. Piper Sandler reissued an “overweight” rating and issued a $215.00 price objective (up from $205.00) on shares of Reddit in a research report on Friday, May 1st. Jefferies Financial Group decreased their target price on shares of Reddit from $285.00 to $250.00 and set a “buy” rating on the stock in a research report on Tuesday, March 10th. Oppenheimer reaffirmed an “outperform” rating and issued a $225.00 target price on shares of Reddit in a research note on Friday, May 1st. Citizens Jmp cut their price target on Reddit from $250.00 to $240.00 and set a “market outperform” rating for the company in a report on Friday, May 1st. Finally, Wells Fargo & Company increased their price target on Reddit from $149.00 to $176.00 and gave the stock an “equal weight” rating in a research note on Friday, May 1st. Eighteen investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. Based on data from MarketBeat.com, Reddit presently has a consensus rating of “Moderate Buy” and a consensus price target of $230.75.

Reddit 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.