Bank of New York Mellon Corp Sells 4,416 Shares of Reddit Inc. $RDDT

Bank of New York Mellon Corp trimmed its position in shares of Reddit Inc. (NYSE:RDDT) by 1.3% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 329,100 shares of the company’s stock after selling 4,416 shares during the period. Bank of New York Mellon Corp owned approximately 0.17% of Reddit worth $44,313,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Institute for Wealth Management LLC. boosted its position in shares of Reddit by 6.1% during the 4th quarter. Institute for Wealth Management LLC. now owns 1,071 shares of the company’s stock worth $246,000 after acquiring an additional 62 shares in the last quarter. Florida Financial Advisors LLC raised its position in Reddit by 6.7% during the fourth quarter. Florida Financial Advisors LLC now owns 1,087 shares of the company’s stock valued at $250,000 after purchasing an additional 68 shares in the last quarter. Diversified Trust Co lifted its stake in Reddit by 2.1% during the first quarter. Diversified Trust Co now owns 3,271 shares of the company’s stock worth $440,000 after purchasing an additional 68 shares during the last quarter. IFP Advisors Inc lifted its stake in Reddit by 9.9% during the third quarter. IFP Advisors Inc now owns 796 shares of the company’s stock worth $183,000 after purchasing an additional 72 shares during the last quarter. Finally, Yousif Capital Management LLC boosted its holdings in shares of Reddit by 5.1% in the 4th quarter. Yousif Capital Management LLC now owns 1,554 shares of the company’s stock valued at $350,000 after purchasing an additional 75 shares in the last quarter.

Reddit Stock Down 0.0%

NYSE RDDT opened at $168.75 on Friday. Reddit Inc. has a twelve month low of $119.27 and a twelve month high of $282.95. The company has a market cap of $32.49 billion, a price-to-earnings ratio of 48.22 and a beta of 1.93. The business’s fifty day moving average is $174.67 and its 200 day moving average is $167.69.

Reddit (NYSE:RDDT) last issued its earnings results on Thursday, April 30th. The company reported $1.01 earnings per share (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 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% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.13 EPS. On average, research analysts anticipate that Reddit Inc. will post 4.85 earnings per share for the current fiscal year.

Insider Transactions at Reddit

In related news, COO Jennifer L. Wong sold 39,166 shares of Reddit stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $176.94, for a total transaction of $6,930,032.04. Following the sale, the chief operating officer directly owned 1,050,339 shares in the company, valued at $185,846,982.66. This trade represents a 3.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Steve Ladd Huffman sold 18,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $173.13, for a total transaction of $3,116,340.00. Following the sale, the chief executive officer directly owned 373,814 shares in the company, valued at $64,718,417.82. The trade was a 4.59% 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. Over the last three months, insiders have sold 169,141 shares of company stock worth $28,680,845. Insiders own 28.48% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on RDDT shares. Weiss Ratings reissued a “hold (c)” rating on shares of Reddit in a report on Friday, May 8th. Truist Financial set a $265.00 price objective on Reddit in a research note on Friday, May 1st. UBS Group reiterated a “mixed” rating on shares of Reddit in a research report on Thursday, July 9th. Cantor Fitzgerald reissued a “neutral” rating and set a $200.00 target price on shares of Reddit in a research note on Monday. Finally, Wedbush reissued an “outperform” rating on shares of Reddit in a report on Thursday. Nineteen investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $232.48.

Key Stories Impacting Reddit

Here are the key news stories impacting Reddit this week:

• Positive Sentiment: Reddit was added to Wedbush’s Best Ideas list ahead of Q2 results, and DA Davidson reiterated a Buy rating with a $200 price target, signaling Wall Street still sees meaningful upside. Reddit added to Wedbush Best Ideas List ahead of Q2 results
• Positive Sentiment: Several recent bullish notes say Reddit’s fundamentals remain strong, with rapid revenue growth, high margins, and ad-driven expansion supporting the stock despite valuation concerns. Reddit: Ignore The Potential Google Scuffle And Carry On
• Positive Sentiment: Investors are looking for a Q2 beat, with guidance pointing to roughly 43% to 45% year-over-year revenue growth and a strong EBITDA margin, which could reinforce the growth story if delivered. Reddit: Why I’m Staying Bullish Into The Q2 Print
• Neutral Sentiment: Analyst commentary this week has focused on Reddit alongside other communication-services names, but no major new company-specific catalyst was disclosed in the headline item. Analysts Offer Insights on Communication Services Companies
• Neutral Sentiment: Reddit’s upcoming earnings report is expected to show growth, but some screening models suggest the setup is not ideal for a clean earnings beat, keeping expectations mixed. Reddit Inc. (RDDT) Reports Next Week: Wall Street Expects Earnings Growth
• Negative Sentiment: The main overhang is renewed uncertainty around Reddit’s reported $60 million-per-year Google AI licensing deal, with some reports suggesting Reddit may rethink the agreement if renewal talks stall or content restrictions emerge. Reddit (RDDT) May Rethink $60 Million Google AI Deal As Renewal Talks Drag
• Negative Sentiment: Recent reports of a possible Google content restriction or AI feud triggered a sharp drop in the stock and pushed Reddit below key moving averages, signaling weaker momentum in the near term. Reddit stock plunges on report of possible Google content restrictions

About Reddit

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.