Reddit (NYSE:RDDT) CEO Sells $2,633,769.63 in Stock

Reddit Inc. (NYSE:RDDT) CEO Steve Ladd Huffman sold 13,911 shares of Reddit stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $189.33, for a total value of $2,633,769.63. Following the sale, the chief executive officer directly owned 498,193 shares of the company’s stock, valued at approximately $94,322,880.69. The trade was a 2.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Steve Ladd Huffman also recently made the following trade(s):

• On Thursday, October 30th, Steve Ladd Huffman sold 4,089 shares of Reddit stock. The stock was sold at an average price of $194.93, for a total value of $797,068.77.
• On Wednesday, October 15th, Steve Ladd Huffman sold 18,000 shares of Reddit stock. The stock was sold at an average price of $200.53, for a total value of $3,609,540.00.
• On Tuesday, September 30th, Steve Ladd Huffman sold 18,000 shares of Reddit stock. The stock was sold at an average price of $229.10, for a total value of $4,123,800.00.
• On Monday, September 15th, Steve Ladd Huffman sold 18,000 shares of Reddit stock. The stock was sold at an average price of $261.22, for a total value of $4,701,960.00.
• On Friday, August 29th, Steve Ladd Huffman sold 18,000 shares of Reddit stock. The stock was sold at an average price of $223.41, for a total value of $4,021,380.00.
• On Friday, August 15th, Steve Ladd Huffman sold 14,000 shares of Reddit stock. The stock was sold at an average price of $244.70, for a total value of $3,425,800.00.

Reddit Price Performance

Reddit stock traded down $12.76 during mid-day trading on Thursday, reaching $183.51. 4,897,341 shares of the company were exchanged, compared to its average volume of 5,960,364. The company has a fifty day simple moving average of $221.79 and a 200-day simple moving average of $172.96. Reddit Inc. has a 12 month low of $79.75 and a 12 month high of $282.95. The firm has a market cap of $34.35 billion, a PE ratio of 105.47, a PEG ratio of 2.16 and a beta of 2.14.

Reddit (NYSE:RDDT) last posted its quarterly earnings data on Thursday, October 30th. The company reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.30. Reddit had a return on equity of 14.94% and a net margin of 18.33%.The firm had revenue of $585.00 million for the quarter, compared to analyst estimates of $546.65 million. During the same quarter last year, the company earned $0.16 EPS. The company’s revenue was up 67.9% on a year-over-year basis. Reddit has set its Q4 2025 guidance at EPS. Sell-side analysts anticipate that Reddit Inc. will post 1.12 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have commented on RDDT. Robert W. Baird raised their price objective on Reddit from $177.00 to $240.00 and gave the stock a “neutral” rating in a research note on Thursday, September 25th. Truist Financial set a $270.00 price objective on Reddit in a research note on Friday, October 31st. Sanford C. Bernstein raised their price objective on Reddit from $190.00 to $210.00 and gave the stock a “market perform” rating in a research note on Friday, October 31st. The Goldman Sachs Group restated a “neutral” rating and set a $236.00 price objective on shares of Reddit in a research note on Tuesday, October 14th. Finally, Guggenheim lifted their price target on Reddit from $165.00 to $215.00 and gave the company a “buy” rating in a research note on Friday, August 1st. Three equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Reddit presently has a consensus rating of “Moderate Buy” and an average target price of $226.33.

Institutional Trading of Reddit

Several institutional investors have recently added to or reduced their stakes in the company. CWM LLC raised its position in shares of Reddit by 100.0% during the first quarter. CWM LLC now owns 256 shares of the company’s stock worth $27,000 after acquiring an additional 128 shares during the last quarter. Stone House Investment Management LLC bought a new stake in Reddit in the first quarter worth approximately $31,000. Cornerstone Planning Group LLC grew its stake in Reddit by 13,500.0% in the third quarter. Cornerstone Planning Group LLC now owns 136 shares of the company’s stock valued at $31,000 after acquiring an additional 135 shares during the period. Financial Perspectives Inc acquired a new stake in Reddit in the second quarter valued at approximately $34,000. Finally, Geneos Wealth Management Inc. grew its stake in Reddit by 344.6% in the first quarter. Geneos Wealth Management Inc. now owns 369 shares of the company’s stock valued at $39,000 after acquiring an additional 286 shares during the period.

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.