Insider Selling: Reddit (NYSE:RDDT) COO Sells 63,427 Shares of Stock

Reddit Inc. (NYSE:RDDT) COO Jennifer Wong sold 63,427 shares of the firm’s stock in a transaction that occurred on Monday, November 24th. The shares were sold at an average price of $192.72, for a total transaction of $12,223,651.44. Following the completion of the sale, the chief operating officer owned 1,184,528 shares of the company’s stock, valued at approximately $228,282,236.16. This trade represents a 5.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Reddit Stock Performance

NYSE RDDT traded up $11.58 during mid-day trading on Monday, reaching $195.06. 5,226,548 shares of the stock were exchanged, compared to its average volume of 5,836,773. The company has a market capitalization of $36.96 billion, a P/E ratio of 112.10, a P/E/G ratio of 2.02 and a beta of 2.15. Reddit Inc. has a 1 year low of $79.75 and a 1 year high of $282.95. The business’s 50 day moving average is $210.57 and its 200-day moving average is $180.67.

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

Wall Street Analysts Forecast Growth

RDDT has been the subject of several recent research reports. JPMorgan Chase & Co. increased their target price on shares of Reddit from $190.00 to $227.00 and gave the stock a “neutral” rating in a research note on Friday, October 31st. Zacks Research upgraded shares of Reddit from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 29th. Roth Capital set a $210.00 price objective on shares of Reddit in a research note on Friday, October 31st. Truist Financial set a $270.00 target price on Reddit in a research report on Friday, October 31st. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $290.00 target price on shares of Reddit in a research report on Friday, October 3rd. 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 stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $226.33.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. Raiffeisen Bank International AG bought a new position in Reddit during the third quarter valued at about $25,000. CWM LLC lifted its holdings in Reddit by 100.0% in the first quarter. CWM LLC now owns 256 shares of the company’s stock valued at $27,000 after buying an additional 128 shares during the period. GW&K Investment Management LLC bought a new position in Reddit during the third quarter worth about $30,000. Stone House Investment Management LLC bought a new stake in shares of Reddit in the 1st quarter valued at $31,000. Finally, Cornerstone Planning Group LLC lifted 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 buying an additional 135 shares in the last quarter.

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.