Rep. Robert Bresnahan, Jr. Sells Off Shares of Reddit, Inc. (NYSE:RDDT)

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" 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 Price Performance

Reddit stock traded down $8.84 during trading hours on Thursday, hitting $116.48. The stock had a trading volume of 2,741,994 shares, compared to its average volume of 5,909,645. The stock has a market capitalization of $21.07 billion, a price-to-earnings ratio of -15.03, a PEG ratio of 4.72 and a beta of 2.90. Reddit, Inc. has a 1-year low of $49.13 and a 1-year high of $230.41. The stock's fifty day moving average is $109.44 and its two-hundred day moving average is $145.07.

Reddit (NYSE:RDDT - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The company reported $0.13 earnings per share for the quarter, beating analysts' consensus estimates 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 business had revenue of $392.36 million for the quarter, compared to the consensus estimate of $370.55 million. During the same period last year, the business earned ($8.19) EPS. The firm's revenue was up 61.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Reddit, Inc. will post 1.12 EPS for the current year.

Analysts Set New Price Targets

RDDT has been the subject of a number of recent analyst reports. Wells Fargo & Company increased their target price on shares of Reddit from $158.00 to $168.00 and gave the company an "overweight" rating in a research report on Friday, May 2nd. Redburn Atlantic initiated coverage on Reddit in a research report on Monday, March 17th. They set a "sell" rating and a $75.00 price target on the stock. Piper Sandler reissued an "overweight" rating and set a $150.00 price target (up from $140.00) on shares of Reddit in a report on Friday, May 2nd. Sanford C. Bernstein upgraded Reddit from an "underperform" rating to a "market perform" rating and set a $130.00 price objective for the company in a report on Friday, May 2nd. Finally, Morgan Stanley decreased their price objective on Reddit from $210.00 to $140.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $140.35.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in RDDT. Vanguard Group Inc. grew its holdings in Reddit by 184.2% in the 4th quarter. Vanguard Group Inc. now owns 9,181,390 shares of the company's stock worth $1,500,606,000 after acquiring an additional 5,950,909 shares during the last quarter. Jennison Associates LLC purchased a new stake in Reddit during the fourth quarter valued at approximately $494,861,000. Alliancebernstein L.P. increased its stake in Reddit by 1,011.1% in the 4th quarter. Alliancebernstein L.P. now owns 2,788,758 shares of the company's stock worth $455,795,000 after buying an additional 2,537,768 shares during the period. Brooklyn FI LLC purchased a new position in shares of Reddit in the 4th quarter valued at $303,082,000. Finally, GQG Partners LLC acquired a new position in shares of Reddit in the 4th quarter valued at $271,539,000.

Insiders Place Their Bets

In related news, CTO Christopher Brian Slowe sold 5,068 shares of the business's stock in a transaction that occurred on Thursday, April 24th. The shares were sold at an average price of $111.28, for a total value of $563,967.04. Following the sale, the chief technology officer now directly owns 20,184 shares in the company, valued at $2,246,075.52. The trade was a 20.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Steve Ladd Huffman sold 14,000 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $187.78, for a total value of $2,628,920.00. Following the transaction, the chief executive officer now directly owns 614,394 shares in the company, valued at approximately $115,370,905.32. This represents a 2.23% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 725,270 shares of company stock worth $95,789,365.

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.