Renaissance Technologies LLC Decreases Stock Holdings in Reddit Inc. $RDDT

Renaissance Technologies LLC reduced its position in shares of Reddit Inc. (NYSE:RDDT) by 16.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,565,778 shares of the company’s stock after selling 317,800 shares during the period. Renaissance Technologies LLC owned 0.81% of Reddit worth $210,832,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Institute for Wealth Management LLC. raised its position in Reddit by 6.1% during the 4th quarter. Institute for Wealth Management LLC. now owns 1,071 shares of the company’s stock valued at $246,000 after purchasing an additional 62 shares during the last quarter. Florida Financial Advisors LLC grew its position in shares of Reddit by 6.7% in the 4th quarter. Florida Financial Advisors LLC now owns 1,087 shares of the company’s stock worth $250,000 after buying an additional 68 shares during the last quarter. Diversified Trust Co increased its stake in shares of Reddit by 2.1% during the first quarter. Diversified Trust Co now owns 3,271 shares of the company’s stock valued at $440,000 after buying an additional 68 shares during the period. IFP Advisors Inc increased its stake in shares of Reddit by 9.9% during the third quarter. IFP Advisors Inc now owns 796 shares of the company’s stock valued at $183,000 after purchasing an additional 72 shares in the last quarter. Finally, Yousif Capital Management LLC increased its stake in shares of Reddit by 5.1% during the fourth quarter. Yousif Capital Management LLC now owns 1,554 shares of the company’s stock valued at $350,000 after purchasing an additional 75 shares in the last quarter.

Reddit Trading Down 0.0%

RDDT stock opened at $168.75 on Friday. The stock’s 50 day simple moving average is $174.67 and its 200 day simple moving average is $167.69. Reddit Inc. has a 12-month low of $119.27 and a 12-month high of $282.95. The stock has a market capitalization of $32.49 billion, a PE ratio of 48.22 and a beta of 1.93.

Reddit (NYSE:RDDT) last posted its earnings results on Thursday, April 30th. The company reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.39. Reddit had a return on equity of 25.48% and a net margin of 28.60%.The business had revenue of $663.41 million during the quarter, compared to analyst estimates of $607.74 million. During the same quarter last year, the company earned $0.13 EPS. The company’s quarterly revenue was up 69.1% compared to the same quarter last year. On average, research analysts predict that Reddit Inc. will post 4.85 earnings per share for the current year.

Insider Buying and Selling

In other Reddit news, COO Jennifer L. Wong sold 39,166 shares of the stock in a transaction dated Tuesday, June 16th. The stock was 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 of the company’s stock, valued at approximately $185,846,982.66. This represents a 3.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Michelle Marie Reynolds sold 808 shares of the stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $200.00, for a total transaction of $161,600.00. Following the completion of the transaction, the chief accounting officer owned 15,060 shares in the company, valued at $3,012,000. This trade represents a 5.09% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 169,141 shares of company stock worth $28,680,845. 28.48% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have recently commented on RDDT. Oppenheimer reissued an “outperform” rating and issued a $225.00 price target on shares of Reddit in a research report on Friday, May 1st. Jefferies Financial Group set a $250.00 price objective on Reddit in a research report on Friday, July 10th. UBS Group reiterated a “mixed” rating on shares of Reddit in a research note on Thursday, July 9th. Citigroup reissued a “market outperform” rating on shares of Reddit in a report on Tuesday, May 26th. Finally, Wall Street Zen downgraded Reddit from a “buy” rating to a “hold” rating in a report on Sunday, May 10th. Nineteen 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, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $232.48.

Key Stories Impacting Reddit

Here are the key news stories impacting Reddit this week:

• Positive Sentiment: Reddit was added to Wedbush’s Best Ideas list ahead of Q2 results, and DA Davidson reiterated a Buy rating with a $200 price target, signaling Wall Street still sees meaningful upside. Reddit added to Wedbush Best Ideas List ahead of Q2 results
• Positive Sentiment: Several recent bullish notes say Reddit’s fundamentals remain strong, with rapid revenue growth, high margins, and ad-driven expansion supporting the stock despite valuation concerns. Reddit: Ignore The Potential Google Scuffle And Carry On
• Positive Sentiment: Investors are looking for a Q2 beat, with guidance pointing to roughly 43% to 45% year-over-year revenue growth and a strong EBITDA margin, which could reinforce the growth story if delivered. Reddit: Why I’m Staying Bullish Into The Q2 Print
• Neutral Sentiment: Analyst commentary this week has focused on Reddit alongside other communication-services names, but no major new company-specific catalyst was disclosed in the headline item. Analysts Offer Insights on Communication Services Companies
• Neutral Sentiment: Reddit’s upcoming earnings report is expected to show growth, but some screening models suggest the setup is not ideal for a clean earnings beat, keeping expectations mixed. Reddit Inc. (RDDT) Reports Next Week: Wall Street Expects Earnings Growth
• Negative Sentiment: The main overhang is renewed uncertainty around Reddit’s reported $60 million-per-year Google AI licensing deal, with some reports suggesting Reddit may rethink the agreement if renewal talks stall or content restrictions emerge. Reddit (RDDT) May Rethink $60 Million Google AI Deal As Renewal Talks Drag
• Negative Sentiment: Recent reports of a possible Google content restriction or AI feud triggered a sharp drop in the stock and pushed Reddit below key moving averages, signaling weaker momentum in the near term. Reddit stock plunges on report of possible Google content restrictions

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.