Reddit (NYSE:RDDT) CEO Steve Ladd Huffman Sells 4,089 Shares

Reddit Inc. (NYSE:RDDT) CEO Steve Ladd Huffman sold 4,089 shares of the stock in a transaction on Thursday, October 30th. The shares were sold at an average price of $194.93, for a total value of $797,068.77. Following the completion of the transaction, the chief executive officer directly owned 494,104 shares of the company’s stock, valued at approximately $96,315,692.72. This represents a 0.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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

• On Tuesday, November 4th, Steve Ladd Huffman sold 13,911 shares of Reddit stock. The shares were sold at an average price of $189.33, for a total transaction of $2,633,769.63.
• 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 transaction of $3,609,540.00.
• On Tuesday, September 30th, Steve Ladd Huffman sold 18,000 shares of Reddit stock. The shares were sold at an average price of $229.10, for a total value of $4,123,800.00.
• On Monday, September 15th, Steve Ladd Huffman sold 18,000 shares of Reddit stock. The stock was 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 shares were sold at an average price of $223.41, for a total transaction of $4,021,380.00.
• On Friday, August 15th, Steve Ladd Huffman sold 14,000 shares of Reddit stock. The stock was sold at an average price of $244.70, for a total transaction of $3,425,800.00.

Reddit Stock Performance

RDDT opened at $183.51 on Friday. The business’s 50 day moving average price is $221.79 and its 200 day moving average price is $172.96. The stock has a market capitalization 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 Inc. has a one year low of $79.75 and a one year high of $282.95.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on RDDT shares. Citigroup lifted their price target on shares of Reddit from $250.00 to $265.00 and gave the company a “buy” rating in a research report on Monday. JPMorgan Chase & Co. lifted their target price on shares of Reddit from $190.00 to $227.00 and gave the company a “neutral” rating in a report on Friday, October 31st. Weiss Ratings restated a “hold (c-)” rating on shares of Reddit in a research note on Wednesday, October 8th. Zacks Research upgraded Reddit from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 29th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $300.00 price objective on shares of Reddit in a research note on Friday, October 3rd. Three equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $226.33.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Teacher Retirement System of Texas raised its stake in shares of Reddit by 880.5% during the 2nd quarter. Teacher Retirement System of Texas now owns 94,676 shares of the company’s stock worth $14,255,000 after buying an additional 85,020 shares in the last quarter. Petrus Trust Company LTA acquired a new position in Reddit during the first quarter worth $473,000. JPMorgan Chase & Co. raised its position in Reddit by 98.2% in the first quarter. JPMorgan Chase & Co. now owns 1,907,495 shares of the company’s stock worth $200,096,000 after acquiring an additional 944,847 shares in the last quarter. Greycroft LP lifted its holdings in Reddit by 109.1% in the first quarter. Greycroft LP now owns 11,500 shares of the company’s stock valued at $1,206,000 after acquiring an additional 6,000 shares during the period. Finally, Think Investments LP grew its stake in shares of Reddit by 10.3% during the 1st quarter. Think Investments LP now owns 268,000 shares of the company’s stock worth $28,113,000 after purchasing an additional 25,000 shares during the period.

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.