Reddit (NYSE:RDDT) CEO Steve Ladd Huffman Sells 13,911 Shares of Stock

Reddit Inc. (NYSE:RDDT) CEO Steve Ladd Huffman sold 13,911 shares of the firm’s stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $189.33, for a total value of $2,633,769.63. Following the transaction, the chief executive officer directly owned 498,193 shares in the company, valued at approximately $94,322,880.69. This represents a 2.72% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Thursday, October 30th, Steve Ladd Huffman sold 4,089 shares of Reddit stock. The stock was sold at an average price of $194.93, for a total transaction of $797,068.77.
• On Wednesday, October 15th, Steve Ladd Huffman sold 18,000 shares of Reddit stock. The stock was sold at an average price of $200.53, for a total value of $3,609,540.00.
• On Tuesday, September 30th, Steve Ladd Huffman sold 18,000 shares of Reddit stock. The stock was sold at an average price of $229.10, for a total transaction of $4,123,800.00.
• On Monday, September 15th, Steve Ladd Huffman sold 18,000 shares of Reddit stock. The shares were sold at an average price of $261.22, for a total value of $4,701,960.00.
• On Friday, August 29th, Steve Ladd Huffman sold 18,000 shares of Reddit stock. The stock was sold at an average price of $223.41, for a total value of $4,021,380.00.
• On Friday, August 15th, Steve Ladd Huffman sold 14,000 shares of Reddit stock. The shares were sold at an average price of $244.70, for a total value of $3,425,800.00.

Reddit Trading Down 6.5%

Reddit stock opened at $183.51 on Friday. The stock has a 50-day moving average price of $221.79 and a 200 day moving average price of $172.96. Reddit Inc. has a 52 week low of $79.75 and a 52 week high of $282.95. The stock has a market cap of $34.35 billion, a PE ratio of 105.47, a P/E/G ratio of 2.16 and a beta of 2.14.

Reddit (NYSE:RDDT) last released its quarterly earnings results on Thursday, October 30th. The company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.30. The company had revenue of $585.00 million for the quarter, compared to analysts’ expectations of $546.65 million. Reddit had a net margin of 18.33% and a return on equity of 14.94%. The firm’s revenue for the quarter was up 67.9% compared to the same quarter last year. During the same period last year, the company earned $0.16 EPS. Reddit has set its Q4 2025 guidance at EPS. On average, equities analysts predict that Reddit Inc. will post 1.12 EPS for the current year.

Institutional Trading of Reddit

A number of hedge funds have recently made changes to their positions in RDDT. Cornerstone Planning Group LLC increased its position in shares of Reddit by 13,500.0% during the third quarter. Cornerstone Planning Group LLC now owns 136 shares of the company’s stock worth $31,000 after acquiring an additional 135 shares during the last quarter. GAMMA Investing LLC raised its stake in Reddit by 8,650.0% during the third quarter. GAMMA Investing LLC now owns 175 shares of the company’s stock valued at $40,000 after buying an additional 173 shares in the last quarter. Cloud Capital Management LLC acquired a new position in shares of Reddit in the 3rd quarter worth approximately $47,000. Covestor Ltd raised its position in shares of Reddit by 138.5% during the 3rd quarter. Covestor Ltd now owns 217 shares of the company’s stock valued at $50,000 after acquiring an additional 126 shares in the last quarter. Finally, Financial Perspectives Inc bought a new position in Reddit during the second quarter worth $34,000.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Argus started coverage on Reddit in a report on Monday, August 18th. They issued a “buy” rating and a $250.00 price target for the company. JPMorgan Chase & Co. boosted their price target on Reddit from $190.00 to $227.00 and gave the company a “neutral” rating in a research report on Friday, October 31st. Piper Sandler reaffirmed an “overweight” rating and issued a $290.00 price objective on shares of Reddit in a research note on Friday, October 3rd. Wells Fargo & Company increased their target price on shares of Reddit from $155.00 to $174.00 and gave the stock a “cautious” rating in a research report on Tuesday, October 7th. Finally, Wall Street Zen upgraded shares of Reddit from a “hold” rating to a “buy” rating in a report on Sunday, September 7th. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Reddit has a consensus rating of “Moderate Buy” and an average price target of $226.33.

About Reddit

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.