Reddit (NYSE:RDDT) CEO Sells 18,000 Shares of Stock

Reddit Inc. (NYSE:RDDT - Get Free Report) CEO Steve Ladd Huffman sold 18,000 shares of the firm's stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $178.16, for a total transaction of $3,206,880.00. Following the completion of the transaction, the chief executive officer owned 373,814 shares of the company's stock, valued at $66,598,702.24. This trade represents a 4.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

• MarketBeat Week in Review – 08/03 - 08/07

Steve Ladd Huffman also recently made the following trade(s):

• On Tuesday, August 4th, Steve Ladd Huffman sold 18,000 shares of Reddit stock. The stock was sold at an average price of $159.78, for a total transaction of $2,876,040.00.
• On Tuesday, June 30th, Steve Ladd Huffman sold 18,000 shares of Reddit stock. The stock was sold at an average price of $173.13, for a total transaction of $3,116,340.00.
• On Monday, June 15th, Steve Ladd Huffman sold 18,000 shares of Reddit stock. The shares were sold at an average price of $178.26, for a total transaction of $3,208,680.00.
• On Friday, May 29th, Steve Ladd Huffman sold 18,000 shares of Reddit stock. The shares were sold at an average price of $174.13, for a total transaction of $3,134,340.00.

Reddit Stock Performance

---

---

Reddit stock opened at $158.12 on Wednesday. Reddit Inc. has a fifty-two week low of $119.27 and a fifty-two week high of $282.95. The stock has a market cap of $30.42 billion, a P/E ratio of 36.77, a PEG ratio of 0.60 and a beta of 2.04. The firm's fifty day moving average price is $174.77 and its 200-day moving average price is $158.97.

• Reddit’s U.S. User Decline Raises a Bigger Question After Its Earnings Beat

Reddit (NYSE:RDDT - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The company reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.30. Reddit had a return on equity of 29.02% and a net margin of 31.35%.The company had revenue of $804.91 million during the quarter, compared to analyst estimates of $731.00 million. During the same quarter last year, the company earned $0.45 earnings per share. The firm's quarterly revenue was up 61.0% on a year-over-year basis. Sell-side analysts predict that Reddit Inc. will post 5.22 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on RDDT. Loop Capital reissued a "buy" rating and set a $260.00 price objective on shares of Reddit in a report on Thursday, June 4th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Reddit in a research note on Wednesday, August 5th. UBS Group reiterated a "buy" rating on shares of Reddit in a research report on Friday, July 31st. Roth Capital reissued a "neutral" rating and issued a $145.00 price target on shares of Reddit in a research note on Monday, August 3rd. Finally, KeyCorp started coverage on shares of Reddit in a report on Wednesday, July 29th. They issued an "overweight" rating and a $225.00 price target on the stock. Three investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat.com, Reddit has an average rating of "Moderate Buy" and a consensus target price of $221.71.

• A $1.5 Billion Wake-Up Call for Every AI Company on Wall Street

Check Out Our Latest Stock Report on RDDT

Hedge Funds Weigh In On Reddit

Several institutional investors have recently modified their holdings of RDDT. Vanguard Group Inc. lifted its position in Reddit by 8.9% in the 4th quarter. Vanguard Group Inc. now owns 13,322,048 shares of the company's stock worth $3,062,339,000 after buying an additional 1,083,540 shares during the last quarter. Capital World Investors purchased a new stake in Reddit in the fourth quarter worth approximately $1,293,258,000. State Street Corp grew its position in Reddit by 6.0% during the fourth quarter. State Street Corp now owns 2,631,332 shares of the company's stock valued at $604,864,000 after acquiring an additional 149,401 shares during the last quarter. Geode Capital Management LLC grew its position in Reddit by 4.7% during the fourth quarter. Geode Capital Management LLC now owns 2,382,712 shares of the company's stock valued at $546,789,000 after acquiring an additional 106,821 shares during the last quarter. Finally, Morgan Stanley raised its stake in shares of Reddit by 11.4% during the fourth quarter. Morgan Stanley now owns 2,372,443 shares of the company's stock worth $545,354,000 after acquiring an additional 242,709 shares in the last quarter.

Key Headlines Impacting Reddit

Here are the key news stories impacting Reddit this week:

• Positive Sentiment: Reddit’s rapidly expanding advertising business and growing advertiser base may give it an advantage over Meta Platforms, though RDDT trades at a richer valuation and faces potential search-traffic headwinds. RDDT vs. META: Which Digital Advertising Stock Has an Edge Right Now?
• Positive Sentiment: Wall Street’s average price target of $215.31 implies roughly 31% upside from the levels cited in recent coverage, supporting the bullish case despite RDDT’s decline this year. Reddit Fell Almost 30% This Year: 80% Gains Are In Store According to Wall Street Pros
• Positive Sentiment: Reddit began testing a TikTok-like audio and video experience that could increase time spent on the platform and create new engagement and monetization opportunities if it scales successfully. Reddit begins testing a new audio and video experience
• Positive Sentiment: Joining the S&P 500 could increase RDDT’s visibility and generate buying from index-tracking funds, although the near-term event can also produce repositioning-related volatility. Reddit Stock Falls Ahead of Joining the S&P 500
• Neutral Sentiment: Data-licensing revenue increased 24% to $43 million, with OpenAI and Google the largest buyers. The growth is encouraging, but the business remains relatively small compared with Reddit’s advertising operations. Reddit's data licensing revenue grew 24% to $43 million
• Negative Sentiment: Executives sold shares under pre-arranged Rule 10b5-1 plans: COO Jennifer Wong sold 75,000 shares and CEO Steve Huffman sold 18,000. The planned nature reduces the signal’s significance, but the transactions can still weigh on sentiment. SEC filing for Jennifer Wong share sale SEC filing for Steve Huffman share sale
• Negative Sentiment: Investor commentary alleges that management stopped reporting or obscured a user metric just as engagement may have weakened, raising concerns about transparency and the sustainability of Reddit’s growth. Reddit management user-metric concerns

About Reddit

(Get Free Report)

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.

See Also

• Five stocks we like better than Reddit
• The AI Boom Is Turning This Cable Maker Into a Stock to Watch
• A Star Investor Just Trimmed Amazon—Here's What It means
• Wendy’s Deal Buzz May Give Fast-Food Investors a New Reason to Look
• Home Depot Analysts See a Path to $375 and Beyond

This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].