Y Intercept Hong Kong Ltd grew its position in Reddit Inc. (NYSE:RDDT – Free Report) by 1,498.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 84,404 shares of the company’s stock after purchasing an additional 79,124 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Reddit were worth $11,365,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently modified their holdings of the company. NewEdge Advisors LLC lifted its stake in Reddit by 143.3% in the 1st quarter. NewEdge Advisors LLC now owns 7,982 shares of the company’s stock valued at $837,000 after acquiring an additional 4,701 shares in the last quarter. Empowered Funds LLC bought a new position in shares of Reddit during the 1st quarter worth approximately $213,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Reddit by 106.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 216,960 shares of the company’s stock worth $22,759,000 after acquiring an additional 111,780 shares in the last quarter. Focus Partners Wealth raised its holdings in shares of Reddit by 40.8% in the first quarter. Focus Partners Wealth now owns 10,224 shares of the company’s stock valued at $1,073,000 after purchasing an additional 2,965 shares during the last quarter. Finally, Geneos Wealth Management Inc. raised its holdings in shares of Reddit by 344.6% in the first quarter. Geneos Wealth Management Inc. now owns 369 shares of the company’s stock valued at $39,000 after purchasing an additional 286 shares during the last quarter.
Reddit Price Performance
Reddit stock opened at $194.57 on Friday. The company’s 50-day moving average is $164.32 and its 200-day moving average is $171.75. The firm has a market capitalization of $37.46 billion, a PE ratio of 55.59 and a beta of 1.93. Reddit Inc. has a fifty-two week low of $119.27 and a fifty-two week high of $282.95.
More Reddit News
Here are the key news stories impacting Reddit this week:
- Positive Sentiment: Options activity jumped as traders bought far more Reddit call options than usual, suggesting rising bullish sentiment and expectations for further upside. Why is Reddit (RDDT) stock soaring today
- Positive Sentiment: Analysts and market commentary highlighted Reddit’s stronger engagement, international expansion, and new ad tools, reinforcing the company’s long-term growth narrative despite recent volatility. Reddit Stock Falls 28.2% in 6 Months: Should You Buy the Dip?
- Neutral Sentiment: Reddit’s CEO sold 18,000 shares under a pre-arranged 10b5-1 plan. While the sale is worth watching, the transaction was disclosed as part of a scheduled trading program and does not necessarily signal a change in business outlook. SEC filing
- Neutral Sentiment: Some of Thursday’s weakness appears to be simple profit-taking after a 12.5% surge tied to optimism about Reddit’s AI data-licensing opportunities. Why Is Reddit Stock Pulling Back on Thursday?
Insider Buying and Selling at Reddit
In other Reddit news, COO Jennifer L. Wong sold 39,166 shares of the company’s stock in a transaction that occurred on 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 sale, the chief operating officer owned 1,050,339 shares in the company, valued at $185,846,982.66. This represents a 3.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Christopher Brian Slowe sold 15,500 shares of the firm’s stock in a transaction that occurred on Wednesday, April 8th. The shares were sold at an average price of $150.67, for a total value of $2,335,385.00. Following the completion of the sale, the chief technology officer directly owned 38,413 shares of the company’s stock, valued at approximately $5,787,686.71. The trade was a 28.75% decrease in their ownership of the stock. 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 have sold 241,000 shares of company stock worth $40,030,125 over the last 90 days. Company insiders own 28.48% of the company’s stock.
Analysts Set New Price Targets
Several brokerages recently commented on RDDT. Citigroup restated a “market outperform” rating on shares of Reddit in a report on Tuesday, May 26th. Truist Financial set a $265.00 price target on shares of Reddit in a research note on Friday, May 1st. Zacks Research cut shares of Reddit from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, June 3rd. Cantor Fitzgerald increased their price objective on shares of Reddit from $170.00 to $180.00 and gave the stock a “neutral” rating in a research note on Friday, May 1st. Finally, Bank of America decreased their price objective on Reddit from $205.00 to $175.00 and set a “neutral” rating for the company in a report on Thursday, April 2nd. Eighteen equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. According to data from MarketBeat.com, Reddit presently has a consensus rating of “Moderate Buy” and an average price target of $230.75.
Get Our Latest Stock Report on RDDT
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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