Reddit (NYSE:RDDT) CEO Steve Ladd Huffman Sells 18,000 Shares

Key Points

• Steve Ladd Huffman, CEO of Reddit, sold 18,000 shares at an average price of $200.53, totaling over $3.6 million, which reduced his ownership stake by 3.51%.
• Following recent trades, Reddit's stock has seen a 2.0% decline, dropping to $195.00, with a market cap of $36.50 billion.
• Analysts maintain a moderate buy rating on Reddit with an average target price of $209.50, reflecting varying opinions across multiple research notes.

Reddit Inc. (NYSE:RDDT - Get Free Report) CEO Steve Ladd Huffman sold 18,000 shares of the stock in a transaction dated Wednesday, October 15th. The shares were sold at an average price of $200.53, for a total transaction of $3,609,540.00. Following the completion of the sale, the chief executive officer owned 494,104 shares of the company's stock, valued at approximately $99,082,675.12. This trade represents a 3.51% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

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

• 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 shares were 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 value 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 value 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.

Reddit Stock Down 2.0%

NYSE RDDT traded down $3.97 during trading hours on Friday, reaching $195.00. 4,526,787 shares of the company were exchanged, compared to its average volume of 7,452,388. The stock has a market capitalization of $36.50 billion, a P/E ratio of 177.27, a P/E/G ratio of 3.07 and a beta of 2.23. Reddit Inc. has a 1 year low of $76.42 and a 1 year high of $282.95. The business's 50 day simple moving average is $228.80 and its 200-day simple moving average is $161.72.

Reddit (NYSE:RDDT - Get Free Report) last released its earnings results on Thursday, July 31st. The company reported $0.45 earnings per share for the quarter, beating analysts' consensus estimates 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 period in the prior year, the firm earned ($0.06) EPS. The company's revenue was up 77.9% compared to the same quarter last year. Reddit has set its Q3 2025 guidance at EPS. As a group, sell-side analysts anticipate that Reddit Inc. will post 1.12 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have issued reports on the company. Wall Street Zen upgraded Reddit from a "hold" rating to a "buy" rating in a research note on Sunday, September 7th. The Goldman Sachs Group restated a "neutral" rating and issued a $236.00 price objective on shares of Reddit in a research note on Tuesday. Raymond James Financial reiterated a "strong-buy" rating and set a $225.00 target price (up previously from $175.00) on shares of Reddit in a research report on Friday, August 1st. JMP Securities reissued a "market outperform" rating and issued a $300.00 price target on shares of Reddit in a research report on Friday, October 3rd. Finally, Citigroup reaffirmed an "outperform" rating on shares of Reddit in a report on Thursday, September 18th. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Reddit has an average rating of "Moderate Buy" and an average target price of $209.50.

Hedge Funds Weigh In On Reddit

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RDDT. CWM LLC raised its holdings in shares of Reddit by 100.0% in the 1st quarter. CWM LLC now owns 256 shares of the company's stock valued at $27,000 after acquiring an additional 128 shares in the last quarter. Stone House Investment Management LLC purchased a new stake in Reddit in the first quarter valued at approximately $31,000. Financial Perspectives Inc bought a new stake in Reddit during the second quarter valued at approximately $34,000. Geneos Wealth Management Inc. grew its stake in Reddit by 344.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 369 shares of the company's stock worth $39,000 after buying an additional 286 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of Reddit by 8,650.0% in the 3rd quarter. GAMMA Investing LLC now owns 175 shares of the company's stock worth $40,000 after buying an additional 173 shares during the last quarter.

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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