Reddit Inc. $RDDT Shares Bought by Swiss National Bank

Swiss National Bank increased its position in Reddit Inc. (NYSE:RDDT) by 7.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 296,600 shares of the company’s stock after acquiring an additional 19,700 shares during the period. Swiss National Bank’s holdings in Reddit were worth $39,937,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. LOM Asset Management Ltd acquired a new stake in Reddit in the fourth quarter valued at $33,000. Summit Securities Group LLC purchased a new stake in shares of Reddit in the 4th quarter worth about $46,000. Sound Income Strategies LLC purchased a new stake in shares of Reddit in the 4th quarter worth about $47,000. ORG Partners LLC grew its stake in Reddit by 105.9% in the 4th quarter. ORG Partners LLC now owns 208 shares of the company’s stock valued at $48,000 after acquiring an additional 107 shares during the last quarter. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA grew its stake in Reddit by 214.3% in the 4th quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 220 shares of the company’s stock valued at $51,000 after acquiring an additional 150 shares during the last quarter.

Wall Street Analysts Forecast Growth

RDDT has been the subject of a number of research reports. UBS Group restated a “mixed” rating on shares of Reddit in a research report on Thursday, July 9th. Needham & Company LLC reiterated a “buy” rating and issued a $300.00 price target on shares of Reddit in a research report on Wednesday, June 24th. Piper Sandler reissued an “overweight” rating and set a $215.00 price objective on shares of Reddit in a research note on Thursday, July 9th. Wedbush assumed coverage on Reddit in a research report on Thursday, July 16th. They set an “outperform” rating and a $250.00 price objective for the company. Finally, Wall Street Zen lowered Reddit from a “buy” rating to a “hold” rating in a research note on Sunday, May 10th. Nineteen analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Reddit has a consensus rating of “Moderate Buy” and an average target price of $232.48.

Reddit News Roundup

Here are the key news stories impacting Reddit this week:

• Negative Sentiment: Investors are worried Reddit could restrict Google’s access to its content for AI training, creating uncertainty around a key licensing agreement and raising questions about future monetization. Reddit stock sinks on report it may not renew Google AI content deal
• Negative Sentiment: The market also sees a risk that Google’s AI-generated overviews could reduce traffic referrals to Reddit, which would be a headwind for ad-driven engagement and revenue growth. Reddit stock plunges on report of possible Google content restrictions
• Negative Sentiment: Technical pressure is adding to the selloff, with the stock falling below key moving averages and momentum weakening ahead of Reddit’s next earnings report on July 30. Reddit stock sinks below key moving averages as momentum fades
• Neutral Sentiment: Recent commentary also notes that no new filing or operating update appears to be driving the move, suggesting this is mainly a sentiment-driven reaction to the Google/AI licensing narrative. Reddit slides as Google AI data-deal uncertainty revives traffic worries

Insider Buying and Selling

In other Reddit news, COO Jennifer L. Wong sold 39,166 shares of the business’s stock in a transaction 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 completion of the transaction, the chief operating officer directly owned 1,050,339 shares in the company, valued at approximately $185,846,982.66. The trade was a 3.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 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 on Wednesday, July 1st. The stock was sold at an average price of $200.00, for a total value of $161,600.00. Following the transaction, the chief accounting officer directly owned 15,060 shares in the company, valued at approximately $3,012,000. This represents a 5.09% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 169,141 shares of company stock worth $28,680,845. 28.48% of the stock is owned by insiders.

Reddit Trading Down 8.3%

NYSE:RDDT opened at $170.38 on Thursday. The firm has a market cap of $32.80 billion, a price-to-earnings ratio of 48.68 and a beta of 1.93. The company’s 50-day moving average is $174.21 and its two-hundred day moving average is $168.20. Reddit Inc. has a 12-month low of $119.27 and a 12-month high of $282.95.

Reddit (NYSE:RDDT) last issued its quarterly 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. The business had revenue of $663.41 million during the quarter, compared to the consensus estimate of $607.74 million. Reddit had a net margin of 28.60% and a return on equity of 25.48%. The company’s quarterly revenue was up 69.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.13 earnings per share. On average, equities research analysts forecast that Reddit Inc. will post 4.85 earnings per share for the current fiscal 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.