Reddit (NYSE:RDDT) Stock Unloaded Rep. Robert Bresnahan, Jr.

Representative Robert Bresnahan, Jr. (R-Pennsylvania) recently sold shares of Reddit, Inc. NYSE: RDDT. In a filing disclosed on May 08th, the Representative disclosed that they had sold between $1,001 and $15,000 in Reddit stock on April 8th. The trade occurred in the Representative's "JP MORGAN BROKERAGE ACCOUNT #2" account.

Representative Robert Bresnahan, Jr. also recently made the following trade(s):

• Sold $1,001 - $15,000 in shares of Meta Platforms NASDAQ: META on 4/17/2025.
• Sold $1,001 - $15,000 in shares of Meta Platforms NASDAQ: META on 4/16/2025.
• Sold $1,001 - $15,000 in shares of Western Digital NASDAQ: WDC on 4/11/2025.
• Purchased $1,001 - $15,000 in shares of Alphabet NASDAQ: GOOG on 4/11/2025.
• Purchased $1,001 - $15,000 in shares of Texas Instruments NASDAQ: TXN on 4/11/2025.
• Purchased $1,001 - $15,000 in shares of NVIDIA NASDAQ: NVDA on 4/11/2025.
• Sold $1,001 - $15,000 in shares of Western Digital NASDAQ: WDC on 4/10/2025.
• Sold $1,001 - $15,000 in shares of DexCom NASDAQ: DXCM on 4/8/2025.
• Sold $1,001 - $15,000 in shares of Invesco NYSE: IVZ on 4/8/2025.
• Sold $1,001 - $15,000 in shares of Generac NYSE: GNRC on 4/8/2025.

Reddit Trading Up 2.1%

Shares of NYSE RDDT traded up $2.34 during trading on Tuesday, reaching $113.55. The company had a trading volume of 1,511,883 shares, compared to its average volume of 7,604,378. Reddit, Inc. has a twelve month low of $49.13 and a twelve month high of $230.41. The stock has a market capitalization of $20.54 billion, a PE ratio of -14.66, a price-to-earnings-growth ratio of 4.72 and a beta of 2.90. The stock has a 50-day moving average price of $110.40 and a two-hundred day moving average price of $145.44.

Reddit (NYSE:RDDT - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported $0.13 EPS for the quarter, topping the consensus estimate of $0.02 by $0.11. Reddit had a negative return on equity of 24.71% and a negative net margin of 37.25%. The firm had revenue of $392.36 million for the quarter, compared to analyst estimates of $370.55 million. During the same period in the previous year, the company posted ($8.19) EPS. Reddit's revenue for the quarter was up 61.5% on a year-over-year basis. On average, sell-side analysts predict that Reddit, Inc. will post 1.12 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on RDDT shares. Roth Capital reissued a "neutral" rating on shares of Reddit in a research note on Friday, May 2nd. JPMorgan Chase & Co. decreased their price target on shares of Reddit from $185.00 to $110.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. JMP Securities reaffirmed a "market outperform" rating and issued a $180.00 price objective on shares of Reddit in a research report on Friday, May 2nd. Oppenheimer began coverage on shares of Reddit in a research report on Wednesday, April 16th. They set an "outperform" rating and a $125.00 price objective for the company. Finally, Loop Capital reiterated a "buy" rating and set a $210.00 target price on shares of Reddit in a research report on Tuesday, March 11th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Reddit presently has a consensus rating of "Moderate Buy" and a consensus target price of $140.35.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Jennison Associates LLC acquired a new position in Reddit in the 4th quarter valued at about $494,861,000. Renaissance Capital LLC boosted its position in Reddit by 14.2% during the fourth quarter. Renaissance Capital LLC now owns 31,236 shares of the company's stock worth $5,105,000 after acquiring an additional 3,892 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Reddit by 27.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 642,456 shares of the company's stock valued at $105,003,000 after acquiring an additional 139,135 shares during the last quarter. Assetmark Inc. raised its holdings in Reddit by 1,537,566.7% in the 4th quarter. Assetmark Inc. now owns 46,130 shares of the company's stock valued at $7,539,000 after acquiring an additional 46,127 shares during the last quarter. Finally, Chung Wu Investment Group LLC purchased a new position in shares of Reddit during the 4th quarter worth $327,000.

Insider Transactions at Reddit

In other news, CFO Andrew Vollero sold 48,122 shares of the business's stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $162.80, for a total value of $7,834,261.60. Following the completion of the sale, the chief financial officer now directly owns 599,295 shares in the company, valued at approximately $97,565,226. The trade was a 7.43% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Steve Ladd Huffman sold 124,408 shares of Reddit stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $127.36, for a total transaction of $15,844,602.88. Following the completion of the transaction, the chief executive officer now directly owns 583,515 shares of the company's stock, valued at $74,316,470.40. This trade represents a 17.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 725,270 shares of company stock worth $95,789,365 over the last quarter.

About Representative Bresnahan

Rob Bresnahan Jr. (Republican Party) is a member of the U.S. House, representing Pennsylvania's 8th Congressional District. He assumed office on January 3, 2025. His current term ends on January 3, 2027. Bresnahan (Republican Party) is running for re-election to the U.S. House to represent Pennsylvania's 8th Congressional District. He declared candidacy for the 2026 election. Rob Bresnahan Jr. was born in Kingston, Pennsylvania. He earned a B.S. in business administration, management and operations from the University of Scranton in 2012. His career experience includes working as the chief financial officer and CEO of a family business, an electrical contracting company.

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.