Reddit (NYSE:RDDT) CTO Sells $3,311,140.00 in Stock

Key Points

• Reddit's CTO, Christopher Brian Slowe, sold 14,000 shares of stock for $3,311,140.00, representing a 6.24% decrease in his ownership.
• Reddit's stock recently traded at $259.04 with a market cap of $48.48 billion and a price-to-earnings ratio of 235.49.
• In its latest earnings report, Reddit posted $0.45 earnings per share, significantly surpassing estimates and achieving a 77.9% year-over-year revenue increase.

Reddit Inc. (NYSE:RDDT - Get Free Report) CTO Christopher Brian Slowe sold 14,000 shares of the business's stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $236.51, for a total value of $3,311,140.00. Following the transaction, the chief technology officer directly owned 210,534 shares in the company, valued at $49,793,396.34. This trade represents a 6.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

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

• 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 value of $2,202,500.00.
• On Thursday, August 21st, Christopher Brian Slowe sold 28,000 shares of Reddit stock. The stock was sold at an average price of $218.94, for a total value of $6,130,320.00.
• On Tuesday, July 22nd, Christopher Brian Slowe sold 16,000 shares of Reddit stock. The stock was sold at an average price of $145.58, for a total value of $2,329,280.00.
• On Monday, June 23rd, Christopher Brian Slowe sold 16,000 shares of Reddit stock. The shares were sold at an average price of $136.47, for a total value of $2,183,520.00.

Reddit Stock Performance

NYSE RDDT traded up $18.84 on Wednesday, reaching $259.04. 7,429,388 shares of the stock traded hands, compared to its average volume of 5,908,406. The company has a market cap of $48.48 billion, a price-to-earnings ratio of 235.49, a PEG ratio of 3.81 and a beta of 2.40. Reddit Inc. has a 12 month low of $55.84 and a 12 month high of $261.13. The company has a fifty day moving average price of $192.30 and a 200-day moving average price of $144.50.

Reddit (NYSE:RDDT - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The company reported $0.45 earnings per share 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 return on equity of 9.93% and a net margin of 12.97%.The company's quarterly revenue was up 77.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.06) EPS. Reddit has set its Q3 2025 guidance at EPS. As a group, research analysts anticipate that Reddit Inc. will post 1.12 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on RDDT. Jefferies Financial Group lifted their price objective on Reddit from $230.00 to $300.00 and gave the company a "buy" rating in a report on Wednesday. Morgan Stanley increased their price objective on shares of Reddit from $170.00 to $230.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Citigroup increased their price objective on shares of Reddit from $158.00 to $163.00 and gave the company a "buy" rating in a report on Tuesday, June 24th. Piper Sandler upped their price target on shares of Reddit from $150.00 to $210.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Finally, Sanford C. Bernstein increased their price target on shares of Reddit from $130.00 to $150.00 and gave the stock a "market perform" rating in a research note on Tuesday, July 22nd. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $180.58.

Institutional Trading of Reddit

A number of hedge funds and other institutional investors have recently bought and sold shares of RDDT. CWM LLC lifted its holdings in Reddit by 100.0% during the first quarter. CWM LLC now owns 256 shares of the company's stock valued at $27,000 after purchasing an additional 128 shares during the last quarter. Stone House Investment Management LLC purchased a new position in Reddit in the first quarter valued at about $31,000. Financial Perspectives Inc purchased a new position in Reddit during the second quarter valued at approximately $34,000. Geneos Wealth Management Inc. boosted its stake in Reddit by 344.6% during the first quarter. Geneos Wealth Management Inc. now owns 369 shares of the company's stock worth $39,000 after buying an additional 286 shares during the last quarter. Finally, Canton Hathaway LLC purchased a new stake in shares of Reddit in the 1st quarter valued at $43,000.

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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