SCHEDULE 13G/A: FMR LLC and Abigail P. Johnson Disclose 13.2% Stake in Reddit Class A Common Stock
Beneficial Ownership Disclosure
FMR LLC and Abigail P. Johnson have filed an amended Schedule 13G, disclosing a beneficial ownership of 13.2% of Reddit, Inc.'s Class A Common Stock as of December 31, 2024.
Summary
- FMR LLC and Abigail P. Johnson collectively reported beneficial ownership of 16,278,730.41 shares of Reddit, Inc.'s Class A Common Stock.
- This aggregate amount represents 13.2% of the outstanding Class A Common Stock.
- FMR LLC holds sole voting power over 15,948,883.60 shares and sole dispositive power over 16,278,730.41 shares.
- Abigail P. Johnson holds sole dispositive power over 16,278,730.41 shares.
- Included in the reported beneficial ownership are 3,215,857 shares of Class B Common Stock, directly owned by investment companies advised by subsidiaries of FMR LLC.
- These Class B shares are convertible into Class A Common Stock at a 1:1 exchange rate and represent 4.534% of the outstanding Class B Common Stock.
- Assuming the conversion of all outstanding Class B Common Stock into Class A, the reported 16,278,730 shares would represent 8.538% of the outstanding Class A Common Stock.
- The securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing the control of Reddit, Inc.
Sentiment
Score: 5
Explanation: A Schedule 13G filing is a routine disclosure of passive beneficial ownership, which is generally neutral in sentiment as it reflects an investment position rather than operational performance or strategic changes.
Industry Context
This filing is a routine disclosure of a significant passive ownership stake by a major institutional investor (FMR LLC, parent of Fidelity Investments) in a social media and online community platform company, Reddit, Inc. Such disclosures provide transparency regarding institutional holdings in publicly traded companies.
Stakeholder Impact
- Shareholders: Provides transparency regarding a significant institutional investor's stake in the company, which can influence market perception and liquidity.
- Investment Professionals: Offers insight into major institutional holdings, aiding in market analysis and investment strategy.
Key Dates
| Date | Description |
|---|---|
| 2023-01-03 | Effective date of Power of Attorney for FMR LLC and its direct and indirect subsidiaries. |
| 2023-01-26 | Effective date of Power of Attorney for Abigail P. Johnson. |
| 2024-12-31 | Date of event which requires filing of this statement (reporting period end date). |
| 2025-02-11 | Date of filing and signature for FMR LLC and Abigail P. Johnson. |
Keywords
Reddit, FMR LLC, Abigail P. Johnson, Schedule 13G, Beneficial Ownership, Class A Common Stock, Institutional Ownership, SEC Filing
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.