Reddit (NYSE:RDDT) COO Jennifer Wong Sells 32,379 Shares

Reddit Inc. (NYSE:RDDT) COO Jennifer Wong sold 32,379 shares of the company’s stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $242.05, for a total transaction of $7,837,336.95. Following the sale, the chief operating officer directly owned 1,395,628 shares of the company’s stock, valued at $337,811,757.40. This represents a 2.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Reddit Trading Down 0.6%

RDDT stock opened at $217.2850 on Friday. Reddit Inc. has a one year low of $55.02 and a one year high of $253.14. The firm has a market capitalization of $40.67 billion, a PE ratio of 197.53, a P/E/G ratio of 3.47 and a beta of 2.30. The firm has a 50-day moving average of $169.82 and a two-hundred day moving average of $142.17.

Reddit (NYSE:RDDT) last posted its quarterly earnings data on Thursday, July 31st. The company reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.25. The company had revenue of $499.63 million during the quarter, compared to analyst estimates of $424.07 million. Reddit had a net margin of 12.97% and a return on equity of 9.93%. The business’s quarterly revenue was up 77.9% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.06) earnings per share. Reddit has set its Q3 2025 guidance at EPS. On average, equities research analysts anticipate that Reddit Inc. will post 1.12 earnings per share for the current year.

Hedge Funds Weigh In On Reddit

Hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its holdings in Reddit by 98.2% in the first quarter. JPMorgan Chase & Co. now owns 1,907,495 shares of the company’s stock worth $200,096,000 after buying an additional 944,847 shares during the last quarter. Ogborne Capital Management LLC bought a new position in shares of Reddit in the fourth quarter valued at approximately $11,539,000. Voloridge Investment Management LLC raised its position in shares of Reddit by 46.3% in the fourth quarter. Voloridge Investment Management LLC now owns 963,516 shares of the company’s stock valued at $157,477,000 after purchasing an additional 304,773 shares during the period. Renaissance Capital LLC raised its position in shares of Reddit by 10.9% in the first quarter. Renaissance Capital LLC now owns 34,636 shares of the company’s stock valued at $3,633,000 after purchasing an additional 3,400 shares during the period. Finally, Laurion Capital Management LP bought a new position in shares of Reddit in the fourth quarter valued at approximately $2,147,000.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Argus assumed coverage on shares of Reddit in a research report on Monday, August 18th. They issued a “buy” rating and a $250.00 price target for the company. Citigroup increased their price target on shares of Reddit from $158.00 to $163.00 and gave the stock a “buy” rating in a research report on Tuesday, June 24th. Bank of America increased their price target on shares of Reddit from $130.00 to $150.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 30th. Roth Capital increased their price target on shares of Reddit from $130.00 to $145.00 and gave the stock a “neutral” rating in a research report on Monday, July 21st. Finally, Seaport Res Ptn raised shares of Reddit from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 5th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Reddit presently has a consensus rating of “Moderate Buy” and a consensus price target of $175.38.

Reddit Company Profile

Reddit, Inc operates a website that organizes digital communities. It organizes communities based on specific interests that enable users to engage in conversations by sharing experiences, submitting links, uploading images and videos, and replying to one another. The company was founded in 2005 and is headquartered in San Francisco, California.