Stephens Investment Management Group LLC significantly reduced its stake in Reddit Inc., according to a recent disclosure. The firm sold 107,287 shares, cutting its position by 32.5%. Its remaining holdings are valued at approximately $51.28 million, representing 0.12% of the company.
The report also noted ongoing insider selling over the last 90 days by executives, including the COO and CTO.
In contrast, another firm, Stephens Inc. AR, increased its position in Reddit by nearly 660%. This firm’s total holding remains smaller, valued at about $3.09 million.
These filings offer a mixed view of institutional sentiment following a period of stock volatility. The volatility followed a strong third-quarter earnings report and varied analyst commentary on Reddit’s advertising business.