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

Key Points

• Steve Ladd Huffman, CEO of Reddit Inc. (NYSE:RDDT), sold 18,000 shares on September 30th for a total of $4,123,800, reducing his ownership by 3.51% to approximately 494,104 shares valued at $113 million.
• Reddit's stock recently traded down 0.9% to $200.81, with a market capitalization of $37.58 billion and a price-to-earnings ratio of 184.18.
• Analysts have mixed views on Reddit's stock, with an average rating of "Moderate Buy" and a consensus target price of $201.58, while Jefferies Financial recently raised its price target for the stock to $300.00.

Reddit Inc. (NYSE:RDDT - Get Free Report) CEO Steve Ladd Huffman sold 18,000 shares of the company's stock in a transaction dated Tuesday, September 30th. The shares were sold at an average price of $229.10, for a total transaction of $4,123,800.00. Following the transaction, the chief executive officer directly owned 494,104 shares of the company's stock, valued at approximately $113,199,226.40. This trade represents a 3.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

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

• 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 transaction 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 shares were sold at an average price of $244.70, for a total transaction of $3,425,800.00.
• On Tuesday, August 5th, Steve Ladd Huffman sold 14,000 shares of Reddit stock. The shares were 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.

Reddit Trading Down 0.9%

Shares of RDDT stock traded down $1.79 during trading hours on Thursday, reaching $200.81. 7,728,758 shares of the stock were exchanged, compared to its average volume of 6,076,431. The firm has a market capitalization of $37.58 billion, a price-to-earnings ratio of 184.18, a price-to-earnings-growth ratio of 3.19 and a beta of 2.23. The company's 50-day moving average price is $222.56 and its 200-day moving average price is $155.04. Reddit Inc. has a 12-month low of $67.35 and a 12-month high of $282.95.

Reddit (NYSE:RDDT - Get Free Report) last posted 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. The company had revenue of $499.63 million during the quarter, compared to analysts' expectations of $424.07 million. Reddit had a net margin of 12.97% and a return on equity of 9.93%. Reddit's revenue for the quarter was up 77.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.06) earnings per share. Reddit has set its Q3 2025 guidance at EPS. On average, sell-side analysts expect that Reddit Inc. will post 1.12 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its holdings in shares of Reddit by 8,650.0% during the 3rd quarter. GAMMA Investing LLC now owns 175 shares of the company's stock worth $40,000 after acquiring an additional 173 shares during the period. Roxbury Financial LLC purchased a new position in Reddit in the third quarter valued at approximately $199,000. Vigilare Wealth Management purchased a new position in Reddit in the third quarter valued at approximately $594,000. Praxis Investment Management Inc. grew its position in Reddit by 129.5% in the third quarter. Praxis Investment Management Inc. now owns 7,276 shares of the company's stock valued at $1,673,000 after acquiring an additional 4,106 shares in the last quarter. Finally, Valeo Financial Advisors LLC acquired a new stake in Reddit in the second quarter valued at approximately $253,000.

Analyst Ratings Changes

Several equities analysts have issued reports on RDDT shares. Jefferies Financial Group increased their price objective on shares of Reddit from $230.00 to $300.00 and gave the company a "buy" rating in a report on Wednesday, September 10th. Argus initiated coverage on shares of Reddit in a research note on Monday, August 18th. They set a "buy" rating and a $250.00 target price on the stock. Guggenheim lifted their target price on shares of Reddit from $165.00 to $215.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. Zacks Research cut shares of Reddit from a "strong-buy" rating to a "hold" rating in a research report on Tuesday. Finally, Sanford C. Bernstein lifted their price objective on shares of Reddit from $130.00 to $150.00 and gave the company a "market perform" rating in a report on Tuesday, July 22nd. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, Reddit has an average rating of "Moderate Buy" and a consensus target price of $201.58.

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.

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