Reddit (NYSE:RDDT) Hits New 1-Year High Following Analyst Upgrade

Key Points

• Reddit's stock (NYSE:RDDT) reached a new 52-week high following an upgrade from Oppenheimer, increasing their price target from $215 to $300.
• CEO Steve Ladd Huffman sold 18,000 shares and COO Jennifer L. Wong sold 30,806 shares, indicating a combined decrease in insider ownership.
• Reddit reported a significant increase in revenue, achieving $499.63 million for the quarter, surpassing analyst expectations and reflecting a 77.9% year-over-year growth.

Shares of Reddit Inc. (NYSE:RDDT - Get Free Report) hit a new 52-week high during trading on Tuesday after Oppenheimer raised their price target on the stock from $215.00 to $300.00. Oppenheimer currently has an outperform rating on the stock. Reddit traded as high as $267.80 and last traded at $266.38, with a volume of 1799752 shares. The stock had previously closed at $263.64.

RDDT has been the subject of a number of other research reports. Wells Fargo & Company upped their price target on shares of Reddit from $115.00 to $118.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 1st. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $210.00 price target on shares of Reddit in a report on Friday, August 22nd. Wolfe Research raised shares of Reddit to an "outperform" rating in a report on Sunday, August 3rd. JPMorgan Chase & Co. upped their price target on shares of Reddit from $145.00 to $190.00 and gave the stock a "neutral" rating in a report on Friday, August 1st. Finally, JMP Securities upped their price target on shares of Reddit from $180.00 to $225.00 and gave the stock a "market outperform" rating in a report on Friday, August 1st. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Reddit has an average rating of "Moderate Buy" and a consensus target price of $191.42.

Insider Buying and Selling

In other news, CEO Steve Ladd Huffman sold 18,000 shares of the company's stock in a transaction on Friday, August 29th. The shares were sold at an average price of $223.41, for a total value of $4,021,380.00. Following the sale, the chief executive officer directly owned 494,104 shares of the company's stock, valued at approximately $110,387,774.64. This represents a 3.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Jennifer L. Wong sold 30,806 shares of the company's stock in a transaction on Monday, August 25th. The shares were sold at an average price of $218.55, for a total transaction of $6,732,651.30. Following the completion of the sale, the chief operating officer directly owned 1,326,709 shares in the company, valued at approximately $289,952,251.95. This represents a 2.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 342,126 shares of company stock worth $68,827,399. Corporate insiders own 34.25% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Petrus Trust Company LTA bought a new position in Reddit during the first quarter worth $473,000. JPMorgan Chase & Co. boosted its stake in Reddit by 98.2% during the first quarter. JPMorgan Chase & Co. now owns 1,907,495 shares of the company's stock worth $200,096,000 after acquiring an additional 944,847 shares in the last quarter. Greycroft LP boosted its stake in Reddit by 109.1% during the first quarter. Greycroft LP now owns 11,500 shares of the company's stock worth $1,206,000 after acquiring an additional 6,000 shares in the last quarter. Think Investments LP lifted its stake in shares of Reddit by 10.3% in the first quarter. Think Investments LP now owns 268,000 shares of the company's stock valued at $28,113,000 after buying an additional 25,000 shares in the last quarter. Finally, Sender Co & Partners Inc. bought a new position in shares of Reddit in the first quarter valued at $1,367,000.

Reddit Stock Up 1.0%

The stock has a market capitalization of $49.84 billion, a P/E ratio of 242.05, a price-to-earnings-growth ratio of 4.03 and a beta of 2.38. The business's 50 day simple moving average is $198.51 and its two-hundred day simple moving average is $146.27.

Reddit (NYSE:RDDT - Get Free Report) last released its quarterly earnings data 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 for the quarter, compared to analyst estimates of $424.07 million. During the same period last year, the firm earned ($0.06) earnings per share. The business's quarterly revenue was up 77.9% compared to the same quarter last year. Reddit has set its Q3 2025 guidance at EPS. Analysts predict that Reddit Inc. will post 1.12 earnings per share for the current year.

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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