Hsbc Holdings PLC Lowers Position in Reddit Inc. $RDDT

Hsbc Holdings PLC trimmed its position in shares of Reddit Inc. (NYSE:RDDT) by 47.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 65,302 shares of the company’s stock after selling 59,484 shares during the quarter. Hsbc Holdings PLC’s holdings in Reddit were worth $15,062,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in RDDT. NewEdge Advisors LLC lifted its position in Reddit by 143.3% in the first quarter. NewEdge Advisors LLC now owns 7,982 shares of the company’s stock valued at $837,000 after purchasing an additional 4,701 shares during the period. Empowered Funds LLC purchased 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 boosted its stake in shares of Reddit by 106.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 216,960 shares of the company’s stock valued at $22,759,000 after buying an additional 111,780 shares in the last quarter. Focus Partners Wealth grew its holdings in Reddit by 40.8% during the first quarter. Focus Partners Wealth now owns 10,224 shares of the company’s stock worth $1,073,000 after acquiring an additional 2,965 shares during the period. Finally, Geneos Wealth Management Inc. raised its position in Reddit by 344.6% in the first quarter. Geneos Wealth Management Inc. now owns 369 shares of the company’s stock worth $39,000 after acquiring an additional 286 shares in the last quarter.

More Reddit News

Here are the key news stories impacting Reddit this week:

• Positive Sentiment: Needham reaffirmed its Buy rating on Reddit and raised its price target to $300, implying meaningful upside if the company continues executing on growth and monetization. Benzinga report on Needham rating
• Positive Sentiment: Yahoo Finance highlighted Reddit’s push toward 1 billion users and said improving profitability could open new opportunities in advertising and AI-related monetization. Yahoo Finance article
• Positive Sentiment: Analysts and market coverage continue to describe Reddit as a moderate buy, suggesting Wall Street still sees room for growth despite recent volatility. American Banking News article
• Neutral Sentiment: Reddit is getting broader public attention, including a Zacks note saying the stock has been drawing unusually heavy interest from users and investors lately. Zacks article
• Negative Sentiment: Technical commentary suggests the stock’s recent selloff may still be in play, with one analysis saying the $166 support level could determine whether downside has gone too far. Investing.com article

Analysts Set New Price Targets

A number of research firms have commented on RDDT. Rothschild & Co Redburn set a $110.00 target price on Reddit in a report on Monday, April 27th. Cantor Fitzgerald increased their price target on shares of Reddit from $170.00 to $180.00 and gave the company a “neutral” rating in a report on Friday, May 1st. DA Davidson reiterated a “buy” rating and issued a $200.00 price objective on shares of Reddit in a research note on Friday, May 1st. Bank of America decreased their price objective on shares of Reddit from $205.00 to $175.00 and set a “neutral” rating on the stock in a report on Thursday, April 2nd. Finally, Piper Sandler restated an “overweight” rating and set a $215.00 target price (up from $205.00) on shares of Reddit in a research report on Friday, May 1st. Eighteen research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company’s stock. According to MarketBeat.com, Reddit presently has a consensus rating of “Moderate Buy” and an average target price of $230.75.

Reddit Stock Performance

Reddit stock opened at $157.82 on Friday. The firm has a market capitalization of $30.38 billion, a price-to-earnings ratio of 45.09 and a beta of 1.91. Reddit Inc. has a fifty-two week low of $119.27 and a fifty-two week high of $282.95. The stock’s fifty day moving average is $162.33 and its two-hundred day moving average is $173.60.

Reddit (NYSE:RDDT) last announced its quarterly earnings results on Thursday, April 30th. The company reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.39. The business 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 for the quarter was up 69.1% on a year-over-year basis. During the same quarter last year, the business posted $0.13 earnings per share. As a group, sell-side analysts forecast that Reddit Inc. will post 4.83 EPS for the current fiscal year.

Insider Buying and Selling at Reddit

In other Reddit news, CTO Christopher Brian Slowe sold 15,500 shares of the company’s stock in a transaction dated 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 sale, the chief technology officer owned 38,413 shares of the company’s stock, valued at $5,787,686.71. This represents a 28.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Steve Ladd Huffman sold 18,000 shares of the stock in a transaction that occurred on Tuesday, March 31st. The shares were sold at an average price of $132.77, for a total transaction of $2,389,860.00. Following the completion of the sale, the chief executive officer owned 411,195 shares in the company, valued at $54,594,360.15. This represents a 4.19% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 241,000 shares of company stock worth $39,303,645. 28.48% of the stock is owned by corporate insiders.

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.