Jennifer Wong Sells 75,000 Shares of Reddit (NYSE:RDDT) Stock

Reddit Inc. (NYSE:RDDT) COO Jennifer Wong sold 75,000 shares of the company’s stock in a transaction on Friday, August 14th. The shares were sold at an average price of $178.55, for a total value of $13,391,250.00. Following the completion of the sale, the chief operating officer owned 1,050,339 shares in the company, valued at $187,538,028.45. This trade represents a 6.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Reddit Stock Performance

Shares of NYSE RDDT opened at $151.77 on Thursday. The stock has a market cap of $29.20 billion, a PE ratio of 35.30, a PEG ratio of 0.53 and a beta of 2.03. The business has a fifty day moving average of $174.35 and a two-hundred day moving average of $158.71. Reddit Inc. has a 52-week low of $119.27 and a 52-week high of $282.95.

Reddit (NYSE:RDDT) last issued its earnings results on Thursday, July 30th. The company reported $1.25 EPS for the quarter, beating the consensus estimate of $0.95 by $0.30. Reddit had a net margin of 31.35% and a return on equity of 29.02%. The company had revenue of $804.91 million for the quarter, compared to the consensus estimate of $731.00 million. During the same quarter in the previous year, the company earned $0.45 EPS. The firm’s revenue for the quarter was up 61.0% compared to the same quarter last year. Analysts predict that Reddit Inc. will post 5.22 earnings per share for the current year.

Trending Headlines about Reddit

Here are the key news stories impacting Reddit this week:

• Positive Sentiment: Reddit’s inclusion in the S&P 500 should improve its visibility and may create ongoing demand from index-tracking funds. Analysts remain broadly constructive, with reported average price targets above recent trading levels. Reddit Stock Falls Ahead of Joining the S&P 500
• Positive Sentiment: Reddit’s advertising business continues to be viewed as a major growth driver. Rapid ad growth and an expanding advertiser base could give the company an advantage over Meta Platforms, although RDDT carries a richer valuation. RDDT vs. META: Which Digital Advertising Stock Has an Edge Right Now?
• Neutral Sentiment: Recent commentary cautions that the S&P 500 “index effect” may be less powerful than expected because much of the buying could have occurred before the effective inclusion date. The event may therefore support visibility without producing a sustained rally. Reddit: Curb Your Enthusiasm About The Index Effect
• Neutral Sentiment: Reddit recently delivered strong quarterly results, including revenue growth of 61% year over year and earnings above consensus estimates. However, investors are now focused more on whether that growth can continue amid market concerns. RDDT Stock Dips Premarket As S&P 500 Inclusion Boost Wanes
• Negative Sentiment: Search-traffic risks are weighing on the outlook. Any decline in visits originating from search engines could reduce user growth, engagement and the inventory available for advertising. Search Traffic Risks for Reddit
• Negative Sentiment: CEO Steve Huffman sold 18,000 shares and COO Jennifer Wong sold 75,000 shares in transactions conducted under pre-arranged Rule 10b5-1 plans. The planned sales reduce their significance, but insider selling can still pressure investor sentiment. SEC filing for Jennifer Wong share sale SEC filing for Steve Huffman share sale

Analysts Set New Price Targets

RDDT has been the topic of several research analyst reports. Roth Capital reaffirmed a “neutral” rating and set a $145.00 price objective on shares of Reddit in a research note on Monday, August 3rd. B. Riley Financial lifted their target price on shares of Reddit from $250.00 to $270.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Needham & Company LLC reissued a “buy” rating and issued a $300.00 target price on shares of Reddit in a report on Wednesday, June 24th. The Goldman Sachs Group reissued a “neutral” rating and issued a $200.00 target price on shares of Reddit in a report on Friday, May 1st. Finally, Loop Capital restated a “buy” rating and set a $260.00 price target on shares of Reddit in a research report on Thursday, June 4th. Three investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat, Reddit has a consensus rating of “Moderate Buy” and an average price target of $221.71.

Hedge Funds Weigh In On Reddit

A number of large investors have recently modified their holdings of the stock. Capital World Investors bought a new stake in Reddit during the 4th quarter worth about $1,293,258,000. Norges Bank bought a new position in shares of Reddit in the 4th quarter valued at about $372,047,000. Invesco Ltd. grew its position in shares of Reddit by 419.0% during the 3rd quarter. Invesco Ltd. now owns 1,487,941 shares of the company’s stock worth $342,212,000 after buying an additional 1,201,237 shares during the period. State Street Corp grew its position in shares of Reddit by 138.5% during the 2nd quarter. State Street Corp now owns 2,030,139 shares of the company’s stock worth $305,678,000 after buying an additional 1,178,890 shares during the period. Finally, Vanguard Group Inc. grew its position in shares of Reddit by 8.9% during the 4th quarter. Vanguard Group Inc. now owns 13,322,048 shares of the company’s stock worth $3,062,339,000 after buying an additional 1,083,540 shares during the period.

Reddit Company Profile

Reddit is an online social news aggregation, discussion and content-sharing platform organized around user-created communities called “subreddits,” each focused on a particular topic or interest. Registered users submit links, text posts, images and video, and community members vote and comment to surface popular content. The site is accessed via its web platform and mobile apps for iOS and Android, and it supports live events such as Ask Me Anything (AMA) sessions and community-driven discussions.

Founded in 2005 by Steve Huffman and Alexis Ohanian, Reddit is headquartered in San Francisco and serves a global audience with particularly large user bases in the United States and other English-speaking markets.