Insider Selling: Reddit (NYSE:RDDT) CTO Sells 14,000 Shares of Stock

Key Points

• Christopher Brian Slowe, the CTO of Reddit, sold 14,000 shares at an average price of $200.81, totaling approximately $2.81 million, which reduced his ownership in the company by 6.35%.
• Reddit's stock price fell 6.2% recently, trading at $198.67, with a market capitalization of $37.18 billion and a price-to-earnings ratio of 180.61.
• Despite recent insider selling, Reddit reported earnings per share of $0.45 for its last quarter, significantly exceeding analysts' estimates and reflecting a revenue increase of 77.9% year-over-year.

Reddit Inc. (NYSE:RDDT - Get Free Report) CTO Christopher Brian Slowe sold 14,000 shares of the firm's stock in a transaction on Wednesday, October 8th. The shares were sold at an average price of $200.81, for a total transaction of $2,811,340.00. Following the sale, the chief technology officer owned 206,534 shares in the company, valued at approximately $41,474,092.54. This represents a 6.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

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

• 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.
• On Tuesday, July 22nd, Christopher Brian Slowe sold 16,000 shares of Reddit stock. The shares were sold at an average price of $145.58, for a total transaction of $2,329,280.00.

Reddit Trading Down 6.2%

RDDT traded down $13.03 during midday trading on Friday, hitting $198.67. 5,514,498 shares of the company traded hands, compared to its average volume of 6,383,408. The company has a market capitalization of $37.18 billion, a price-to-earnings ratio of 180.61, a PEG ratio of 3.23 and a beta of 2.23. Reddit Inc. has a 52-week low of $69.74 and a 52-week high of $282.95. The business has a 50 day simple moving average of $229.29 and a two-hundred day simple moving average of $159.25.

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

Hedge Funds Weigh In On Reddit

Institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC raised its stake 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 purchasing an additional 173 shares during the period. Financial Perspectives Inc acquired a new stake in shares of Reddit during the second quarter valued at about $34,000. CWM LLC increased its position in shares of Reddit by 100.0% during the first quarter. CWM LLC now owns 256 shares of the company's stock valued at $27,000 after acquiring an additional 128 shares during the last quarter. Stone House Investment Management LLC acquired a new stake in shares of Reddit during the first quarter valued at about $31,000. Finally, Advisors Asset Management Inc. increased its position in shares of Reddit by 68.2% during the second quarter. Advisors Asset Management Inc. now owns 365 shares of the company's stock valued at $55,000 after acquiring an additional 148 shares during the last quarter.

Analyst Upgrades and Downgrades

Several research firms have issued reports on RDDT. Citigroup reaffirmed an "outperform" rating on shares of Reddit in a report on Thursday, September 18th. Robert W. Baird raised their price target on shares of Reddit from $177.00 to $240.00 and gave the stock a "neutral" rating in a research note on Thursday, September 25th. Argus assumed coverage on shares of Reddit in a research note on Monday, August 18th. They issued a "buy" rating and a $250.00 price target on the stock. Zacks Research downgraded shares of Reddit from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, September 30th. Finally, Wolfe Research raised shares of Reddit to an "outperform" rating in a research note on Sunday, August 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $203.92.

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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