Christopher Brian Slowe Sells 14,000 Shares of Reddit (NYSE:RDDT) Stock

Reddit Inc. (NYSE:RDDT) CTO Christopher Brian Slowe sold 14,000 shares of the business’s stock in a transaction on Wednesday, October 22nd. The shares were sold at an average price of $197.10, for a total transaction of $2,759,400.00. Following the completion of the sale, the chief technology officer directly owned 204,534 shares of the company’s stock, valued at approximately $40,313,651.40. This trade represents a 6.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Christopher Brian Slowe also recently made the following trade(s):

• On Wednesday, October 8th, Christopher Brian Slowe sold 14,000 shares of Reddit stock. The shares were sold at an average price of $200.81, for a total transaction of $2,811,340.00.
• On Monday, September 22nd, Christopher Brian Slowe sold 14,000 shares of Reddit stock. The shares were sold at an average price of $257.28, for a total transaction of $3,601,920.00.
• On Monday, September 8th, Christopher Brian Slowe sold 14,000 shares of Reddit stock. The shares were sold at an average price of $236.51, for a total transaction of $3,311,140.00.
• On Friday, August 22nd, Christopher Brian Slowe sold 10,000 shares of Reddit stock. The shares were sold at an average price of $220.25, for a total transaction of $2,202,500.00.
• On Thursday, August 21st, Christopher Brian Slowe sold 28,000 shares of Reddit stock. The shares were sold at an average price of $218.94, for a total transaction of $6,130,320.00.

Reddit Stock Performance

Shares of NYSE:RDDT opened at $214.64 on Friday. The company has a 50-day simple moving average of $225.42 and a 200-day simple moving average of $166.61. Reddit Inc. has a one year low of $79.02 and a one year high of $282.95. The stock has a market capitalization of $40.17 billion, a price-to-earnings ratio of 195.12, a PEG ratio of 3.27 and a beta of 2.23.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC grew its position in Reddit by 8,650.0% during the third quarter. GAMMA Investing LLC now owns 175 shares of the company’s stock worth $40,000 after buying an additional 173 shares during the period. Financial Perspectives Inc acquired a new position in Reddit during the second quarter worth about $34,000. CWM LLC grew its position in Reddit by 100.0% during the first quarter. CWM LLC now owns 256 shares of the company’s stock worth $27,000 after buying an additional 128 shares during the period. Stone House Investment Management LLC acquired a new position in Reddit during the first quarter worth about $31,000. Finally, Advisors Asset Management Inc. grew its position in Reddit by 68.2% during the second quarter. Advisors Asset Management Inc. now owns 365 shares of the company’s stock worth $55,000 after buying an additional 148 shares during the period.

Analysts Set New Price Targets

A number of brokerages have recently commented on RDDT. Truist Financial upped their target price on shares of Reddit from $225.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday, October 15th. Bank of America upped their target price on shares of Reddit from $130.00 to $150.00 and gave the company a “neutral” rating in a report on Wednesday, July 30th. Wolfe Research upgraded shares of Reddit to an “outperform” rating in a research note on Sunday, August 3rd. Cannonball Research reiterated a “buy” rating on shares of Reddit in a research note on Tuesday, September 23rd. Finally, Argus started coverage on shares of Reddit in a research note on Monday, August 18th. They set a “buy” rating and a $250.00 price target on the stock. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $217.50.

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.