Reddit Inc. (NYSE:RDDT – Get Free Report) COO Jennifer Wong sold 39,167 shares of the stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $158.52, for a total transaction of $6,208,752.84. Following the sale, the chief operating officer owned 1,088,451 shares of the company’s stock, valued at approximately $172,541,252.52. This represents a 3.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Reddit Stock Down 5.0%
Shares of Reddit stock traded down $7.76 during trading on Wednesday, reaching $147.12. 10,360,897 shares of the stock were exchanged, compared to its average volume of 5,248,193. The stock’s fifty day moving average is $147.25 and its 200 day moving average is $180.18. The firm has a market cap of $28.32 billion, a price-to-earnings ratio of 42.03 and a beta of 1.85. Reddit Inc. has a 1 year low of $94.89 and a 1 year high of $282.95.
Reddit (NYSE:RDDT – Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The company reported $1.01 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $607.74 million. During the same period last year, the business posted $0.13 earnings per share. Reddit’s quarterly revenue was up 69.1% compared to the same quarter last year. Equities analysts forecast that Reddit Inc. will post 4.83 earnings per share for the current year.
Hedge Funds Weigh In On Reddit
Reddit News Roundup
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
Wall Street Analyst Weigh In
RDDT has been the subject of several research analyst reports. B. Riley Financial raised their price objective on shares of Reddit from $245.00 to $250.00 and gave the stock a “buy” rating in a report on Friday, February 6th. Wells Fargo & Company raised their price objective on shares of Reddit from $149.00 to $176.00 and gave the stock an “equal weight” rating in a report on Friday, May 1st. Oppenheimer restated an “outperform” rating and issued a $225.00 price objective on shares of Reddit in a report on Friday, May 1st. Wall Street Zen lowered shares of Reddit from a “buy” rating to a “hold” rating in a report on Sunday, May 10th. Finally, Jefferies Financial Group lowered their price objective on shares of Reddit from $285.00 to $250.00 and set a “buy” rating for the company in a report on Tuesday, March 10th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and eleven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $228.61.
Check Out Our Latest Report on RDDT
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.
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