Reddit (NYSE:RDDT) COO Jennifer Wong Sells 39,167 Shares of Stock

Reddit Inc. (NYSE:RDDT) COO Jennifer Wong sold 39,167 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief operating officer owned 1,088,451 shares of the company’s stock, valued at $172,541,252.52. This trade represents a 3.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Reddit Price Performance

Shares of NYSE:RDDT opened at $147.12 on Thursday. The company has a market capitalization of $28.32 billion, a P/E 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. The business’s 50 day simple moving average is $147.25 and its 200 day simple moving average is $180.18.

Reddit (NYSE:RDDT) last announced its quarterly earnings results on Thursday, April 30th. The company reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.39. Reddit had a return on equity of 25.48% and a net margin of 28.60%.The firm had revenue of $663.41 million for the quarter, compared to analyst estimates of $607.74 million. During the same period last year, the firm posted $0.13 earnings per share. The business’s revenue for the quarter was up 69.1% on a year-over-year basis. On average, sell-side analysts anticipate that Reddit Inc. will post 4.83 EPS for the current fiscal year.

Institutional Investors Weigh In On Reddit

Institutional investors and hedge funds have recently modified their holdings of the stock. Raiffeisen Bank International AG purchased a new stake in shares of Reddit in the 3rd quarter worth about $25,000. Sunbelt Securities Inc. raised its holdings in Reddit by 87.5% in the first quarter. Sunbelt Securities Inc. now owns 195 shares of the company’s stock worth $26,000 after buying an additional 91 shares during the last quarter. GW&K Investment Management LLC purchased a new position in Reddit in the third quarter worth about $30,000. Ascentis Independent Advisors purchased a new position in Reddit in the first quarter worth about $30,000. Finally, Cornerstone Planning Group LLC raised its holdings in Reddit by 13,500.0% in the third quarter. Cornerstone Planning Group LLC now owns 136 shares of the company’s stock worth $31,000 after buying an additional 135 shares during the last quarter.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on RDDT shares. Citigroup reiterated an “outperform” rating on shares of Reddit in a report on Friday, May 1st. Rothschild & Co Redburn set a $110.00 target price on shares of Reddit in a research report on Monday, April 27th. Robert W. Baird set a $200.00 target price on shares of Reddit in a research report on Friday, February 6th. Wells Fargo & Company upped their price objective on shares of Reddit from $149.00 to $176.00 and gave the stock an “equal weight” rating in a research report on Friday, May 1st. Finally, Truist Financial set a $265.00 price objective on shares of Reddit in a research report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat, Reddit currently has an average rating of “Moderate Buy” and a consensus price target of $228.61.

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

About Reddit

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.