Reddit Inc. $RDDT Stock Holdings Increased by Geode Capital Management LLC

Key Points

• Geode Capital Management increased its Reddit stake by 4.7% in the fourth quarter, ending with 2.38 million shares valued at about $546.8 million.
• Other institutional investors also added to or initiated positions in Reddit, while insiders have been active sellers: CEO Steve Huffman and CTO Christopher Slowe both sold shares under pre-arranged trading plans.
• Reddit’s recent earnings beat expectations, with $1.01 EPS and $663.4 million in revenue, as analysts kept a generally constructive view with a consensus Moderate Buy rating and average target price of $228.61.

Geode Capital Management LLC lifted its stake in Reddit Inc. (NYSE:RDDT - Free Report) by 4.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,382,712 shares of the company's stock after purchasing an additional 106,821 shares during the quarter. Geode Capital Management LLC owned 1.26% of Reddit worth $546,789,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in the stock. Integrity Alliance LLC. purchased a new stake in shares of Reddit in the fourth quarter worth approximately $520,000. Bellwether Advisors LLC lifted its position in shares of Reddit by 118.8% in the fourth quarter. Bellwether Advisors LLC now owns 20,629 shares of the company's stock worth $4,742,000 after purchasing an additional 11,201 shares in the last quarter. Wellington Shields Capital Management LLC lifted its position in shares of Reddit by 1.5% in the fourth quarter. Wellington Shields Capital Management LLC now owns 29,672 shares of the company's stock worth $6,821,000 after purchasing an additional 427 shares in the last quarter. Harbour Investments Inc. lifted its position in shares of Reddit by 15.0% in the fourth quarter. Harbour Investments Inc. now owns 4,795 shares of the company's stock worth $1,102,000 after purchasing an additional 625 shares in the last quarter. Finally, Allstate Corp lifted its position in shares of Reddit by 97.8% in the fourth quarter. Allstate Corp now owns 7,685 shares of the company's stock worth $1,767,000 after purchasing an additional 3,799 shares in the last quarter.

Insider Buying and Selling at Reddit

In other news, CEO Steve Ladd Huffman sold 18,000 shares of Reddit stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $171.80, for a total value of $3,092,400.00. Following the transaction, the chief executive officer owned 411,195 shares of the company's stock, valued at $70,643,301. This trade represents a 4.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Christopher Brian Slowe sold 15,500 shares of Reddit stock in a transaction that occurred on Wednesday, April 8th. The shares were sold at an average price of $150.67, for a total transaction of $2,335,385.00. Following the completion of the transaction, the chief technology officer directly owned 38,413 shares in the company, valued at approximately $5,787,686.71. This represents a 28.75% 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. Insiders sold a total of 241,999 shares of company stock worth $36,678,168 in the last ninety days. Insiders own 34.25% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on RDDT shares. Robert W. Baird set a $200.00 price target on shares of Reddit in a research report on Friday, February 6th. The Goldman Sachs Group reissued a "neutral" rating and issued a $200.00 price target on shares of Reddit in a research report on Friday, May 1st. Morgan Stanley set a $240.00 price target on shares of Reddit in a research report on Friday, February 6th. Oppenheimer reissued an "outperform" rating and issued a $225.00 price target on shares of Reddit in a research report on Friday, May 1st. Finally, Guggenheim raised their price objective on shares of Reddit from $245.00 to $255.00 and gave the company a "buy" rating in a research report on Friday, February 6th. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $228.61.

Reddit Stock Performance

Shares of RDDT opened at $176.41 on Friday. The firm has a market cap of $33.96 billion, a PE ratio of 50.40 and a beta of 1.85. The firm's 50 day moving average price is $149.56 and its 200 day moving average price is $178.23. Reddit Inc. has a twelve month low of $106.34 and a twelve month high of $282.95.

Reddit (NYSE:RDDT - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The company reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.39. The firm had revenue of $663.41 million for the quarter, compared to analyst estimates of $607.74 million. Reddit had a net margin of 28.60% and a return on equity of 25.48%. The company's revenue for the quarter was up 69.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.13 earnings per share. On average, sell-side analysts anticipate that Reddit Inc. will post 4.83 earnings per share for the current fiscal year.

Trending Headlines about Reddit

Here are the key news stories impacting Reddit this week:

• Positive Sentiment: Claude AI made a bullish case for Reddit, reinforcing the view that RDDT has attractive growth and monetization potential. Claude AI Makes Bullish Case for Reddit (RDDT)
• Positive Sentiment: Reddit’s Shopify integration moved from test phase to general availability, which analysts said could drive lower-funnel ad growth and broader merchant adoption. Reddit integration with Shopify seen driving ad growth, adoption
• Positive Sentiment: Technical traders are viewing RDDT favorably after it broke above its 20-day moving average, signaling short-term bullish momentum. Reddit Inc. (RDDT) Recently Broke Out Above the 20-Day Moving Average
• Positive Sentiment: Brokerage coverage remains constructive, with Reddit receiving an average “Moderate Buy” rating. Reddit Inc. NYSE: RDDT Receives Average Rating of "Moderate Buy" from Brokerages
• Positive Sentiment: Commentary on Reddit’s revenue trends says the company is showing stronger momentum than Snap, with a steep upward growth trajectory that could support a higher valuation. Reddit vs. Snap: What Do Their Revenue Trends Tell Investors?
• Neutral Sentiment: Some coverage highlighted Reddit as a long-term momentum stock, reflecting continued investor interest but offering little new fundamental information. Why Reddit Inc. (RDDT) is a top momentum stock for the long term
• Neutral Sentiment: Another note focused on Reddit’s IPO-era surge, which is mostly historical context rather than a fresh stock-moving catalyst. Why Reddit Stock Skyrocketed in Its IPO Today
• Neutral Sentiment: A Seeking Alpha article argued that Reddit’s human-authenticated community and intent data could become more valuable to advertisers as AI-generated content rises, supporting the long-term thesis. Reddit: The Most Human Place On The Internet

Reddit Company 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.

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