Reddit (NYSE:RDDT) COO Sells $7,909,044.48 in Stock

Key Points

• Reddit COO Jennifer Wong sold 30,741 shares of the company at an average price of $257.28, totaling approximately $7.91 million, reducing her ownership by 2.32%.
• The company reported a 77.9% year-over-year revenue increase, with quarterly revenue of $499.63 million and earnings per share of $0.45, surpassing analysts' expectations.
• Analysts have raised their price targets for Reddit stock, with Needham & Company setting a target of $300.00, indicating a positive outlook for the company's future performance.

Reddit Inc. (NYSE:RDDT - Get Free Report) COO Jennifer Wong sold 30,741 shares of the stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $257.28, for a total value of $7,909,044.48. Following the completion of the sale, the chief operating officer directly owned 1,295,968 shares of the company's stock, valued at approximately $333,426,647.04. This represents a 2.32% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Reddit Price Performance

Shares of NYSE:RDDT traded down $1.97 during midday trading on Wednesday, hitting $235.48. The company had a trading volume of 4,807,889 shares, compared to its average volume of 5,568,943. Reddit Inc. has a twelve month low of $64.51 and a twelve month high of $282.95. The stock has a market cap of $44.07 billion, a price-to-earnings ratio of 214.07, a price-to-earnings-growth ratio of 3.74 and a beta of 2.40. The business's 50-day simple moving average is $214.17 and its 200-day simple moving average is $151.32.

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

Analyst Ratings Changes

Several research firms recently commented on RDDT. Needham & Company LLC increased their price target on Reddit from $215.00 to $300.00 and gave the company a "buy" rating in a report on Monday, September 15th. Roth Capital raised their target price on Reddit from $130.00 to $145.00 and gave the stock a "neutral" rating in a research note on Monday, July 21st. Bank of America raised their target price on Reddit from $130.00 to $150.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 30th. Raymond James Financial reissued a "strong-buy" rating and set a $225.00 target price (up previously from $175.00) on shares of Reddit in a research note on Friday, August 1st. Finally, Oppenheimer raised their target price on Reddit from $215.00 to $300.00 and gave the stock an "outperform" rating in a research note on Tuesday, September 16th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $197.88.

Institutional Investors Weigh In On Reddit

A number of institutional investors have recently modified their holdings of RDDT. Alliancebernstein L.P. grew its stake in shares of Reddit by 103.0% in the first quarter. Alliancebernstein L.P. now owns 5,659,990 shares of the company's stock valued at $593,733,000 after buying an additional 2,871,232 shares in the last quarter. Norges Bank purchased a new position in Reddit in the second quarter valued at $294,254,000. Amundi boosted its holdings in Reddit by 2,060.5% in the second quarter. Amundi now owns 1,307,231 shares of the company's stock valued at $208,294,000 after purchasing an additional 1,246,725 shares during the period. State Street Corp boosted its holdings in Reddit by 138.5% in the second 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 period. Finally, Nordea Investment Management AB boosted its holdings in Reddit by 21,703.0% in the second quarter. Nordea Investment Management AB now owns 1,060,935 shares of the company's stock valued at $164,021,000 after purchasing an additional 1,056,069 shares during the period.

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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