Reddit (NYSE:RDDT) COO Sells $9,028,307.46 in Stock

Reddit Inc. (NYSE:RDDT) COO Jennifer Wong sold 40,967 shares of the company’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $220.38, for a total value of $9,028,307.46. Following the completion of the transaction, the chief operating officer owned 120,033 shares in the company, valued at $26,452,872.54. This represents a 25.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Reddit Trading Up 0.2%

NYSE RDDT traded up $0.36 during trading hours on Tuesday, reaching $220.09. The company had a trading volume of 5,304,964 shares, compared to its average volume of 7,870,994. The stock has a 50-day moving average of $171.69 and a 200 day moving average of $141.06. Reddit Inc. has a 1-year low of $55.02 and a 1-year high of $253.14. The stock has a market capitalization of $41.19 billion, a P/E ratio of 200.08, a price-to-earnings-growth ratio of 3.45 and a beta of 2.30.

Reddit (NYSE:RDDT) last announced its earnings results on Thursday, July 31st. The company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.25. The company had revenue of $499.63 million for the quarter, compared to analyst estimates of $424.07 million. Reddit had a return on equity of 9.93% and a net margin of 12.97%.The firm’s quarterly revenue was up 77.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.06) earnings per share. Reddit has set its Q3 2025 guidance at EPS. As a group, sell-side analysts predict that Reddit Inc. will post 1.12 EPS for the current year.

Hedge Funds Weigh In On Reddit

Several institutional investors and hedge funds have recently modified their holdings of the company. CWM LLC boosted its holdings 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 purchasing an additional 128 shares during the last quarter. Stone House Investment Management LLC acquired a new stake in shares of Reddit in the first quarter worth $31,000. Financial Perspectives Inc acquired a new stake in Reddit in the 2nd quarter valued at $34,000. Geneos Wealth Management Inc. raised its holdings in shares of Reddit by 344.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 369 shares of the company’s stock valued at $39,000 after buying an additional 286 shares during the period. Finally, Canton Hathaway LLC purchased a new stake in shares of Reddit during the first quarter valued at approximately $43,000.

Analysts Set New Price Targets

Several brokerages have recently issued reports on RDDT. B. Riley reissued a “buy” rating and set a $220.00 price target (down previously from $222.00) on shares of Reddit in a research report on Friday, May 2nd. JMP Securities raised their target price on Reddit from $180.00 to $225.00 and gave the stock a “market outperform” rating in a research report on Friday, August 1st. Wall Street Zen raised shares of Reddit from a “hold” rating to a “buy” rating in a research report on Saturday, June 14th. Wolfe Research raised shares of Reddit to an “outperform” rating in a report on Sunday, August 3rd. Finally, Guggenheim boosted their price target on Reddit from $165.00 to $215.00 and gave the company a “buy” rating in a research report on Friday, August 1st. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, nine have issued a Hold rating and one has issued 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 $175.38.

Reddit Company Profile

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.