Reddit (NYSE:RDDT) CEO Sells 17,308 Shares

Reddit Inc. (NYSE:RDDT - Get Free Report) CEO Steve Huffman sold 17,308 shares of the stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $160.11, for a total transaction of $2,771,183.88. Following the transaction, the chief executive officer directly owned 336,432 shares of the company's stock, valued at $53,866,127.52. This trade represents a 4.89% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 Monday, August 31st, Steve Huffman sold 18,000 shares of Reddit stock. The stock was sold at an average price of $148.02, for a total value of $2,664,360.00.
• On Friday, August 14th, Steve Huffman sold 18,000 shares of Reddit stock. The stock was sold at an average price of $178.16, for a total value of $3,206,880.00.
• On Tuesday, August 4th, Steve Huffman sold 18,000 shares of Reddit stock. The stock was sold at an average price of $159.78, for a total value of $2,876,040.00.
• On Tuesday, June 30th, Steve Huffman sold 18,000 shares of Reddit stock. The shares were sold at an average price of $173.13, for a total value of $3,116,340.00.

Reddit Price Performance

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NYSE RDDT opened at $152.82 on Friday. The stock has a market capitalization of $29.40 billion, a PE ratio of 35.54, a P/E/G ratio of 0.73 and a beta of 2.02. The business has a 50 day simple moving average of $163.89 and a two-hundred day simple moving average of $159.52. Reddit Inc. has a 1-year low of $119.27 and a 1-year high of $282.95.

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

Reddit (NYSE:RDDT - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The company reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.30. The business had revenue of $804.91 million for the quarter, compared to analysts' expectations of $731.00 million. Reddit had a return on equity of 29.02% and a net margin of 31.35%.The company's revenue for the quarter was up 61.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.45 EPS. On average, analysts anticipate that Reddit Inc. will post 5.27 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have commented on RDDT. Guggenheim reiterated a "buy" rating on shares of Reddit in a research report on Wednesday. DA Davidson restated a "buy" rating and set a $200.00 target price on shares of Reddit in a research report on Thursday, July 23rd. Zacks Research downgraded shares of Reddit from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 25th. Citigroup reissued a "market outperform" rating on shares of Reddit in a research note on Monday, August 24th. Finally, KeyCorp assumed coverage on Reddit in a research report on Wednesday, July 29th. They set an "overweight" rating and a $225.00 price objective on the stock. Two analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $221.10.

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

Get Our Latest Stock Analysis on RDDT

Institutional Investors Weigh In On Reddit

Several hedge funds and other institutional investors have recently modified their holdings of the business. Capital World Investors purchased a new position in Reddit during the 4th quarter valued at $1,293,258,000. Geode Capital Management LLC increased its stake in Reddit by 4.7% in the fourth quarter. Geode Capital Management LLC now owns 2,382,712 shares of the company's stock worth $546,789,000 after purchasing an additional 106,821 shares during the period. Norges Bank purchased a new stake in Reddit in the fourth quarter worth $372,047,000. Lord Abbett & CO. LLC lifted its position in shares of Reddit by 30.3% during the fourth quarter. Lord Abbett & CO. LLC now owns 1,263,529 shares of the company's stock worth $290,447,000 after purchasing an additional 293,743 shares during the last quarter. Finally, Wellington Management Group LLP lifted its position in shares of Reddit by 21.8% during the second quarter. Wellington Management Group LLP now owns 1,564,535 shares of the company's stock worth $271,572,000 after purchasing an additional 280,030 shares during the last quarter.

Trending Headlines about Reddit

Here are the key news stories impacting Reddit this week:

• Positive Sentiment: Guggenheim maintained a Buy rating on Reddit, providing continued analyst support for the shares. The broader analyst consensus remains “Moderate Buy,” with an average price target of $221.10. Guggenheim remains a Buy on Reddit
• Positive Sentiment: Reddit’s latest results showed strong operating momentum: quarterly revenue rose 61% year over year to $804.9 million, exceeding expectations, while adjusted earnings also beat consensus. This performance supports the long-term growth case, although it is not a new announcement in this news cycle.
• Neutral Sentiment: Co-founder Alexis Ohanian said the technology industry has been “tone deaf” in communicating artificial-intelligence risks. His comments focus on improving the public debate around AI and do not indicate a change to Reddit’s strategy or financial outlook. Reddit co-founder discusses AI risks
• Negative Sentiment: COO Jennifer Wong sold 60,000 Reddit shares for approximately $9.7 million, reducing her direct ownership by 5.6%. CEO Steve Huffman separately sold 17,308 shares worth about $2.8 million. Both transactions were conducted under pre-arranged Rule 10b5-1 trading plans, which can reduce their significance as discretionary bearish signals, but the combined selling may still weigh on sentiment. Reddit COO insider sale Reddit CEO SEC filing

About Reddit

(Get Free Report)

Reddit, Inc operates a global online platform where users participate in communities organized around shared interests, topics and discussions. Users can submit posts, links, images and videos, while community members can comment, vote and interact through publicly accessible forums known as subreddits.

The company generates revenue primarily through digital advertising and also offers premium memberships and other paid products. Reddit additionally provides data licensing and developer-related services that support the use of its platform content and technology.

Founded in 2005 by Steve Huffman, Alexis Ohanian and Aaron Swartz, Reddit serves users worldwide across a broad range of communities.

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