Reddit (NYSE:RDDT) Insider Benjamin Seong Lee Sells 6,427 Shares

Reddit Inc. (NYSE:RDDT) insider Benjamin Seong Lee sold 6,427 shares of the business’s stock in a transaction on Monday, November 24th. The shares were sold at an average price of $192.68, for a total transaction of $1,238,354.36. Following the sale, the insider directly owned 67,613 shares in the company, valued at $13,027,672.84. The trade was a 8.68% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Reddit Price Performance

Reddit stock opened at $195.06 on Tuesday. The firm has a market capitalization of $36.96 billion, a P/E ratio of 112.10, a PEG ratio of 2.02 and a beta of 2.15. Reddit Inc. has a one year low of $79.75 and a one year high of $282.95. The business has a fifty day moving average price of $210.57 and a 200-day moving average price of $180.67.

Reddit (NYSE:RDDT) last released its quarterly earnings data on Thursday, October 30th. The company reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.30. The company had revenue of $584.91 million for the quarter, compared to analyst estimates of $546.65 million. Reddit had a return on equity of 14.94% and a net margin of 18.33%.The firm’s revenue for the quarter was up 67.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.16 EPS. Reddit has set its Q4 2025 guidance at EPS. Sell-side analysts expect that Reddit Inc. will post 1.12 earnings per share for the current fiscal year.

Analyst Ratings Changes

RDDT has been the topic of a number of recent analyst reports. Citigroup increased their price target on shares of Reddit from $250.00 to $265.00 and gave the stock a “buy” rating in a report on Monday, November 3rd. Wells Fargo & Company upped their target price on shares of Reddit from $155.00 to $174.00 and gave the stock a “cautious” rating in a report on Tuesday, October 7th. Zacks Research upgraded shares of Reddit from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 29th. Guggenheim boosted their price target on shares of Reddit from $165.00 to $215.00 and gave the company a “buy” rating in a research report on Friday, August 1st. Finally, Sanford C. Bernstein upped their price target on shares of Reddit from $190.00 to $210.00 and gave the stock a “market perform” rating in a report on Friday, October 31st. Three research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $226.33.

Institutional Trading of Reddit

Institutional investors and hedge funds have recently made changes to their positions in the stock. Teacher Retirement System of Texas grew its position in Reddit by 880.5% during the second quarter. Teacher Retirement System of Texas now owns 94,676 shares of the company’s stock valued at $14,255,000 after acquiring an additional 85,020 shares during the last quarter. Petrus Trust Company LTA purchased a new stake in shares of Reddit in the 1st quarter valued at $473,000. JPMorgan Chase & Co. grew its holdings in shares of Reddit by 98.2% during the 1st quarter. JPMorgan Chase & Co. now owns 1,907,495 shares of the company’s stock valued at $200,096,000 after purchasing an additional 944,847 shares during the last quarter. Greycroft LP raised its position in Reddit by 109.1% in the 1st quarter. Greycroft LP now owns 11,500 shares of the company’s stock worth $1,206,000 after purchasing an additional 6,000 shares during the period. Finally, Think Investments LP raised its position in Reddit by 10.3% in the 1st quarter. Think Investments LP now owns 268,000 shares of the company’s stock worth $28,113,000 after purchasing an additional 25,000 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.