Reddit (NYSE:RDDT) CAO Sells $599,404.60 in Stock

Reddit Inc. (NYSE:RDDT) CAO Michelle Marie Reynolds sold 3,215 shares of the business’s stock in a transaction on Monday, November 24th. The shares were sold at an average price of $186.44, for a total transaction of $599,404.60. Following the completion of the sale, the chief accounting officer directly owned 21,807 shares in the company, valued at $4,065,697.08. This trade represents a 12.85% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Reddit Stock Down 5.0%

Shares of RDDT opened at $207.46 on Thursday. Reddit Inc. has a 12 month low of $79.75 and a 12 month high of $282.95. The stock has a market cap of $39.31 billion, a price-to-earnings ratio of 119.23, a P/E/G ratio of 2.41 and a beta of 2.14. The company has a 50-day moving average price of $208.43 and a two-hundred day moving average price of $181.63.

Reddit (NYSE:RDDT) last posted its earnings results on Thursday, October 30th. The company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.30. The business had revenue of $584.91 million for the quarter, compared to analyst estimates of $546.65 million. Reddit had a net margin of 18.33% and a return on equity of 14.94%. The firm’s quarterly revenue was up 67.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.16 EPS. Reddit has set its Q4 2025 guidance at EPS. Equities research analysts expect that Reddit Inc. will post 1.12 EPS for the current fiscal year.

Institutional Investors Weigh In On Reddit

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Raiffeisen Bank International AG acquired a new stake in Reddit in the third quarter valued at $25,000. GW&K Investment Management LLC acquired a new position in shares of Reddit during the 3rd quarter worth about $30,000. Cornerstone Planning Group LLC raised its holdings in shares of Reddit by 13,500.0% in the 3rd quarter. Cornerstone Planning Group LLC now owns 136 shares of the company’s stock valued at $31,000 after purchasing an additional 135 shares during the period. GAMMA Investing LLC lifted its stake in Reddit by 8,650.0% in the 3rd quarter. GAMMA Investing LLC now owns 175 shares of the company’s stock valued at $40,000 after purchasing an additional 173 shares during the last quarter. Finally, Cloud Capital Management LLC bought a new position in Reddit during the third quarter worth about $47,000.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Truist Financial set a $270.00 target price on Reddit in a research report on Friday, October 31st. Zacks Research raised Reddit from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 29th. The Goldman Sachs Group restated a “neutral” rating and set a $236.00 target price on shares of Reddit in a research report on Tuesday, October 14th. Wolfe Research upgraded shares of Reddit to an “outperform” rating in a research report on Sunday, August 3rd. Finally, Roth Capital set a $210.00 price target on shares of Reddit in a research note on Friday, October 31st. Three research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $226.33.

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.