Geode Capital Management LLC Purchases 106,821 Shares of Reddit Inc. $RDDT

Geode Capital Management LLC grew its position in Reddit Inc. (NYSE:RDDT) by 4.7% during the fourth quarter, HoldingsChannel reports. The firm owned 2,382,712 shares of the company’s stock after buying an additional 106,821 shares during the quarter. Geode Capital Management LLC’s holdings in Reddit were worth $546,789,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of Reddit by 8.9% in the fourth quarter. Vanguard Group Inc. now owns 13,322,048 shares of the company’s stock worth $3,062,339,000 after acquiring an additional 1,083,540 shares during the last quarter. State Street Corp grew its stake in shares of Reddit by 22.3% in the third quarter. State Street Corp now owns 2,481,931 shares of the company’s stock worth $570,819,000 after acquiring an additional 451,792 shares during the last quarter. Bank of America Corp DE grew its stake in shares of Reddit by 38.4% in the third quarter. Bank of America Corp DE now owns 1,724,560 shares of the company’s stock worth $396,632,000 after acquiring an additional 478,095 shares during the last quarter. Invesco Ltd. grew its stake in shares of Reddit by 419.0% in the third quarter. Invesco Ltd. now owns 1,487,941 shares of the company’s stock worth $342,212,000 after acquiring an additional 1,201,237 shares during the last quarter. Finally, Nordea Investment Management AB grew its stake in shares of Reddit by 4.3% in the fourth quarter. Nordea Investment Management AB now owns 1,151,360 shares of the company’s stock worth $265,273,000 after acquiring an additional 47,187 shares during the last quarter.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Reddit from $227.00 to $200.00 and set a “neutral” rating on the stock in a research note on Friday, February 6th. Wells Fargo & Company raised their price objective on shares of Reddit from $149.00 to $176.00 and gave the stock an “equal weight” rating in a research note on Friday, May 1st. The Goldman Sachs Group restated a “neutral” rating and issued a $200.00 price objective on shares of Reddit in a research note on Friday, May 1st. B. Riley Financial raised their price objective on shares of Reddit from $245.00 to $250.00 and gave the stock a “buy” rating in a research note on Friday, February 6th. Finally, Bank of America lowered their price objective on shares of Reddit from $205.00 to $175.00 and set a “neutral” rating on the stock in a research note on Thursday, April 2nd. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $228.61.

More Reddit News

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

Insider Buying and Selling

In other Reddit news, CTO Christopher Brian Slowe sold 15,500 shares of Reddit stock in a transaction on Wednesday, April 8th. The stock was 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 of the company’s stock, valued at approximately $5,787,686.71. This trade represents a 28.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Jennifer L. Wong sold 39,167 shares of Reddit stock in a transaction on Thursday, April 16th. The shares were sold at an average price of $161.47, for a total value of $6,324,295.49. Following the transaction, the chief operating officer directly owned 1,088,451 shares of the company’s stock, valued at approximately $175,752,182.97. The trade was a 3.47% 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. Insiders sold a total of 241,999 shares of company stock valued at $36,678,168 in the last ninety days. Insiders own 34.25% of the company’s stock.

Reddit Stock Performance

Shares of NYSE RDDT opened at $176.41 on Friday. The stock has a market cap of $33.96 billion, a PE ratio of 50.40 and a beta of 1.85. The business has a fifty day moving average of $149.56 and a two-hundred day moving average of $178.23. Reddit Inc. has a 52-week low of $106.34 and a 52-week high of $282.95.

Reddit (NYSE:RDDT) last issued its quarterly earnings data on Thursday, April 30th. The company reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.39. The company had revenue of $663.41 million during the quarter, compared to analysts’ expectations of $607.74 million. Reddit had a return on equity of 25.48% and a net margin of 28.60%.The business’s revenue was up 69.1% on a year-over-year basis. During the same period last year, the business earned $0.13 earnings per share. Analysts predict that Reddit Inc. will post 4.83 earnings per share for the current year.

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.