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

Representative Robert Bresnahan, Jr. (R-Pennsylvania) recently sold shares of Reddit, Inc. NYSE: RDDT. In a filing disclosed on April 09th, the Representative disclosed that they had sold between $1,001 and $15,000 in Reddit stock on March 11th. The trade occurred in the Representative's "JP MORGAN BROKERAGE ACCOUNT #2" account.

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

• Purchased $1,001 - $15,000 in shares of Cadence Design Systems NASDAQ: CDNS on 3/17/2025.
• Purchased $1,001 - $15,000 in shares of ServiceNow NYSE: NOW on 3/13/2025.
• Purchased $1,001 - $15,000 in shares of Intel NASDAQ: INTC on 3/13/2025.
• Purchased $1,001 - $15,000 in shares of SEA NYSE: SE on 3/11/2025.
• Sold $1,001 - $15,000 in shares of Robinhood Markets NASDAQ: HOOD on 3/11/2025.
• Sold $1,001 - $15,000 in shares of Oracle NYSE: ORCL on 3/11/2025.
• Purchased $1,001 - $15,000 in shares of International Business Machines NYSE: IBM on 3/11/2025.
• Sold $1,001 - $15,000 in shares of Tesla NASDAQ: TSLA on 3/11/2025.
• Sold $1,001 - $15,000 in shares of Broadcom NASDAQ: AVGO on 3/11/2025.
• Sold $1,001 - $15,000 in shares of NVIDIA NASDAQ: NVDA on 3/11/2025.

Reddit Trading Down 1.7 %

Shares of Reddit stock traded down $1.66 on Wednesday, hitting $94.80. 374,421 shares of the company traded hands, compared to its average volume of 7,478,282. The stock's 50 day moving average price is $139.02 and its 200-day moving average price is $140.27. The company has a market cap of $17.15 billion and a PE ratio of -12.26. Reddit, Inc. has a 52 week low of $37.35 and a 52 week high of $230.41.

Reddit (NYSE:RDDT - Get Free Report) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.24 by $0.12. Reddit had a negative return on equity of 24.71% and a negative net margin of 37.25%. As a group, research analysts anticipate that Reddit, Inc. will post 1.12 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on RDDT shares. B. Riley upped their price target on shares of Reddit from $112.00 to $187.00 and gave the stock a "buy" rating in a research report on Tuesday, January 14th. Raymond James dropped their price objective on Reddit from $250.00 to $200.00 and set a "strong-buy" rating on the stock in a research report on Wednesday, March 12th. Needham & Company LLC restated a "buy" rating and issued a $220.00 price target on shares of Reddit in a report on Friday, March 21st. Wells Fargo & Company decreased their price objective on shares of Reddit from $215.00 to $158.00 and set an "overweight" rating for the company in a research note on Monday, March 31st. Finally, Morgan Stanley upped their target price on Reddit from $200.00 to $210.00 and gave the stock an "overweight" rating in a research note on Thursday, February 13th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $145.26.

Institutional Trading of Reddit

Hedge funds have recently modified their holdings of the stock. Ridgewood Investments LLC raised its position in Reddit by 100.0% in the 4th quarter. Ridgewood Investments LLC now owns 200 shares of the company's stock valued at $33,000 after purchasing an additional 100 shares in the last quarter. Proficio Capital Partners LLC raised its holdings in Reddit by 2.1% in the fourth quarter. Proficio Capital Partners LLC now owns 5,908 shares of the company's stock valued at $966,000 after acquiring an additional 120 shares in the last quarter. Farther Finance Advisors LLC lifted its stake in Reddit by 148.5% in the fourth quarter. Farther Finance Advisors LLC now owns 246 shares of the company's stock worth $40,000 after acquiring an additional 147 shares during the last quarter. UMB Bank n.a. increased its position in shares of Reddit by 10.8% in the 4th quarter. UMB Bank n.a. now owns 1,533 shares of the company's stock valued at $251,000 after purchasing an additional 150 shares during the last quarter. Finally, Foundations Investment Advisors LLC raised its holdings in shares of Reddit by 3.0% in the 4th quarter. Foundations Investment Advisors LLC now owns 5,325 shares of the company's stock valued at $870,000 after purchasing an additional 155 shares in the last quarter.

Insider Activity at Reddit

In related news, CFO Andrew Vollero sold 100,000 shares of Reddit stock in a transaction on Monday, March 24th. The shares were sold at an average price of $124.08, for a total transaction of $12,408,000.00. Following the sale, the chief financial officer now directly owns 499,295 shares in the company, valued at $61,952,523.60. This trade represents a 16.69 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Steve Ladd Huffman sold 14,000 shares of the business's stock in a transaction on Friday, January 31st. The shares were sold at an average price of $201.96, for a total transaction of $2,827,440.00. Following the completion of the sale, the chief executive officer now directly owns 614,394 shares of the company's stock, valued at approximately $124,083,012.24. This trade represents a 2.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 589,794 shares of company stock valued at $86,967,644 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.

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.