Reddit (NYSE:RDDT) COO Sells $6,208,752.84 in Stock

Reddit Inc. (NYSE:RDDT) COO Jennifer Wong sold 39,167 shares of the business’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $158.52, for a total transaction of $6,208,752.84. Following the sale, the chief operating officer directly owned 1,088,451 shares in the company, valued at $172,541,252.52. The trade was a 3.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Reddit Stock Performance

RDDT stock traded down $7.76 during midday trading on Wednesday, reaching $147.12. 10,360,897 shares of the company’s stock traded hands, compared to its average volume of 5,248,193. The company has a 50-day moving average price of $147.25 and a two-hundred day moving average price of $180.18. Reddit Inc. has a 52 week low of $94.89 and a 52 week high of $282.95. The firm has a market capitalization of $28.32 billion, a PE ratio of 42.03 and a beta of 1.85.

Reddit (NYSE:RDDT) last issued its earnings results on Thursday, April 30th. The company reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.39. Reddit had a net margin of 28.60% and a return on equity of 25.48%. The business had revenue of $663.41 million for the quarter, compared to analysts’ expectations of $607.74 million. During the same quarter in the previous year, the firm posted $0.13 EPS. The business’s revenue for the quarter was up 69.1% compared to the same quarter last year. As a group, analysts predict that Reddit Inc. will post 4.83 EPS for the current fiscal year.

More Reddit News

Here are the key news stories impacting Reddit this week:

• Positive Sentiment: Analysts and commentary remain constructive on Reddit’s fundamentals, pointing to rapid revenue growth, strong margins, and a net cash balance sheet as support for longer-term upside. Article Title
• Positive Sentiment: ARPU rose 44% in the first quarter, helped by advertiser growth, AI-driven ad tools, and international expansion, which signals improving monetization for the platform. Article Title
• Positive Sentiment: One bullish note argues Reddit remains oversold and attractive after a steep year-to-date decline, citing strong user growth, high gross margins, and a Rule of 40 score above 100. Article Title
• Neutral Sentiment: Needham reportedly remains bullish on Reddit, reinforcing the view that Wall Street still sees growth potential despite near-term volatility. Article Title
• Negative Sentiment: CEO Steve Huffman sold 18,000 shares in a pre-arranged 10b5-1 plan, which can weigh on sentiment even though the sale was not necessarily a change in outlook. Article Title
• Negative Sentiment: Technical selling has pushed RDDT below major moving averages, and traders appear to be reducing exposure to richly valued growth stocks in the current market environment. Article Title

Analysts Set New Price Targets

RDDT has been the topic of several research analyst reports. Jefferies Financial Group decreased their price target on shares of Reddit from $285.00 to $250.00 and set a “buy” rating on the stock in a report on Tuesday, March 10th. Needham & Company LLC reaffirmed a “buy” rating and issued a $300.00 price target on shares of Reddit in a report on Friday, May 1st. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $285.00 price target on shares of Reddit in a report on Tuesday, January 20th. Guggenheim upped their price target on shares of Reddit from $245.00 to $255.00 and gave the stock a “buy” rating in a report on Friday, February 6th. Finally, Cantor Fitzgerald upped their price target on shares of Reddit from $170.00 to $180.00 and gave the stock a “neutral” rating in a report on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $228.61.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RDDT. Resona Asset Management Co. Ltd. boosted its holdings in shares of Reddit by 53.2% during the third quarter. Resona Asset Management Co. Ltd. now owns 30,944 shares of the company’s stock worth $7,166,000 after purchasing an additional 10,743 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Reddit by 12.9% during the third quarter. Vanguard Group Inc. now owns 12,238,508 shares of the company’s stock worth $2,814,734,000 after purchasing an additional 1,401,293 shares during the period. Optimize Financial Inc purchased a new stake in shares of Reddit during the third quarter worth about $1,420,000. Truist Financial Corp boosted its holdings in shares of Reddit by 67.7% during the fourth quarter. Truist Financial Corp now owns 15,659 shares of the company’s stock worth $3,600,000 after purchasing an additional 6,321 shares during the period. Finally, Swiss Life Asset Management Ltd boosted its holdings in shares of Reddit by 63.2% during the fourth quarter. Swiss Life Asset Management Ltd now owns 32,003 shares of the company’s stock worth $7,357,000 after purchasing an additional 12,398 shares during the period.

Reddit Company Profile

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.