Insider Selling: Reddit (NYSE:RDDT) CEO Sells 18,000 Shares of Stock

Key Points

• Reddit CEO Steve Ladd Huffman sold 18,000 shares of stock on September 15th for a total of $4.7 million, reducing his ownership by 3.51%.
• The stock price saw a recent trading volume of nearly 10 million shares and currently stands at approximately $266.64, near its 12-month high of $270.36.
• Reddit reported a 77.9% year-over-year revenue increase, with a quarterly EPS of $0.45, significantly surpassing analyst expectations.

Reddit Inc. (NYSE:RDDT - Get Free Report) CEO Steve Ladd Huffman sold 18,000 shares of the business's stock in a transaction on Monday, September 15th. The stock was sold at an average price of $261.22, for a total value of $4,701,960.00. Following the completion of the sale, the chief executive officer directly owned 494,104 shares in the company, valued at $129,069,846.88. This trade represents a 3.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

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

• 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 value of $4,021,380.00.
• On Friday, August 15th, Steve Ladd Huffman sold 14,000 shares of Reddit stock. The shares were sold at an average price of $244.70, for a total value of $3,425,800.00.
• On Tuesday, August 5th, Steve Ladd Huffman sold 14,000 shares of Reddit stock. The stock was sold at an average price of $202.70, for a total transaction of $2,837,800.00.
• On Tuesday, July 15th, Steve Ladd Huffman sold 14,000 shares of Reddit stock. The stock was sold at an average price of $145.63, for a total transaction of $2,038,820.00.
• On Monday, June 30th, Steve Ladd Huffman sold 14,000 shares of Reddit stock. The stock was sold at an average price of $151.35, for a total value of $2,118,900.00.

Reddit Stock Down 0.0%

NYSE:RDDT traded down $0.02 on Wednesday, reaching $266.64. The company's stock had a trading volume of 9,997,295 shares, compared to its average volume of 5,210,494. Reddit Inc. has a 12-month low of $61.54 and a 12-month high of $270.36. The stock has a 50 day moving average price of $200.91 and a 200 day moving average price of $147.11. The firm has a market cap of $49.90 billion, a price-to-earnings ratio of 242.42, a price-to-earnings-growth ratio of 4.20 and a beta of 2.40.

Reddit (NYSE:RDDT - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.20 by $0.25. Reddit had a net margin of 12.97% and a return on equity of 9.93%. The firm had revenue of $499.63 million during the quarter, compared to the consensus estimate of $424.07 million. During the same quarter in the prior year, the firm earned ($0.06) EPS. Reddit's revenue for the quarter was up 77.9% on a year-over-year basis. Reddit has set its Q3 2025 guidance at EPS. Equities research analysts expect that Reddit Inc. will post 1.12 EPS for the current fiscal year.

Hedge Funds Weigh In On Reddit

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. raised its stake in Reddit by 6.3% in the second quarter. Vanguard Group Inc. now owns 10,837,215 shares of the company's stock valued at $1,631,759,000 after purchasing an additional 638,663 shares in the last quarter. Alliancebernstein L.P. lifted its position in Reddit by 103.0% during the first quarter. Alliancebernstein L.P. now owns 5,659,990 shares of the company's stock valued at $593,733,000 after purchasing an additional 2,871,232 shares during the period. T. Rowe Price Investment Management Inc. raised its stake in shares of Reddit by 10.6% in the first quarter. T. Rowe Price Investment Management Inc. now owns 4,073,939 shares of the company's stock worth $427,357,000 after buying an additional 389,761 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Reddit by 7.5% in the second quarter. JPMorgan Chase & Co. now owns 2,051,175 shares of the company's stock worth $308,846,000 after buying an additional 143,680 shares in the last quarter. Finally, State Street Corp lifted its stake in shares of Reddit by 138.5% in the 2nd quarter. State Street Corp now owns 2,030,139 shares of the company's stock valued at $305,678,000 after purchasing an additional 1,178,890 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of research firms have commented on RDDT. Raymond James Financial reaffirmed a "strong-buy" rating and set a $225.00 target price (up previously from $175.00) on shares of Reddit in a report on Friday, August 1st. Piper Sandler lifted their price objective on Reddit from $150.00 to $210.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Wall Street Zen upgraded shares of Reddit from a "hold" rating to a "buy" rating in a report on Sunday, September 7th. Citigroup increased their price target on shares of Reddit from $158.00 to $163.00 and gave the stock a "buy" rating in a research report on Tuesday, June 24th. Finally, Bank of America boosted their target price on shares of Reddit from $130.00 to $150.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 30th. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $191.42.

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.

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