** Shares of social media platform Reddit RDDT.N fall 5.4% to $102.06 at the open

** Wells Fargo cuts PT on RDDT to $158 from $215, which still implies 46.7% upside to stock's last close

** Estimates for ad revenue has been reduced due to RDDT's focus on brand advertising, a segment that is likely under pressure, brokerage says

** Auto ad spending has slowed in March due to tariff concerns, Wells Fargo says, adding that RDDT has the highest exposure to auto ads vs other ad platforms

** "We believe Reddit's ad platform is still in its nascency and the company's monetization of its highly engaged audience remains limited" - Wells Fargo

** As of last close, RDDT shares down 34% YTD

(Reporting by Padmanabhan Ananthan)

((Padmanabhan.Ananthan@thomsonreuters.com))