Reddit (NYSE:RDDT) CEO Steve Ladd Huffman Sells 18,000 Shares of Stock

Reddit Inc. (NYSE:RDDT) CEO Steve Ladd Huffman sold 18,000 shares of the stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $173.13, for a total value of $3,116,340.00. Following the transaction, the chief executive officer owned 373,814 shares in the company, valued at approximately $64,718,417.82. This trade represents a 4.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, June 15th, Steve Ladd Huffman sold 18,000 shares of Reddit stock. The shares were sold at an average price of $178.26, for a total value of $3,208,680.00.
• On Friday, May 29th, Steve Ladd Huffman sold 18,000 shares of Reddit stock. The stock was sold at an average price of $174.13, for a total value of $3,134,340.00.
• On Friday, May 15th, Steve Ladd Huffman sold 18,000 shares of Reddit stock. The stock was sold at an average price of $157.15, for a total value of $2,828,700.00.
• On Tuesday, May 5th, Steve Ladd Huffman sold 18,000 shares of Reddit stock. The stock was sold at an average price of $171.80, for a total value of $3,092,400.00.
• On Wednesday, April 15th, Steve Ladd Huffman sold 18,000 shares of Reddit stock. The shares were sold at an average price of $158.40, for a total transaction of $2,851,200.00.

Reddit Stock Performance

NYSE:RDDT opened at $194.57 on Friday. Reddit Inc. has a 52 week low of $119.27 and a 52 week high of $282.95. The firm has a market cap of $37.46 billion, a price-to-earnings ratio of 55.59 and a beta of 1.93. The firm’s 50-day simple moving average is $164.32 and its 200 day simple moving average is $171.75.

Reddit (NYSE:RDDT) last posted its quarterly earnings data on Thursday, April 30th. The company reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.39. Reddit had a net margin of 28.60% and a return on equity of 25.48%. The firm had revenue of $663.41 million during the quarter, compared to the consensus estimate of $607.74 million. During the same quarter in the previous year, the firm posted $0.13 EPS. The business’s revenue for the quarter was up 69.1% compared to the same quarter last year. Sell-side analysts anticipate that Reddit Inc. will post 4.83 EPS for the current year.

Hedge Funds Weigh In On Reddit

Hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in Reddit by 8.9% in the fourth quarter. Vanguard Group Inc. now owns 13,322,048 shares of the company’s stock valued at $3,062,339,000 after buying an additional 1,083,540 shares in the last quarter. Capital World Investors bought a new position in Reddit in the fourth quarter valued at about $1,293,258,000. State Street Corp raised its stake in Reddit by 6.0% during the fourth quarter. State Street Corp now owns 2,631,332 shares of the company’s stock worth $604,864,000 after acquiring an additional 149,401 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Reddit by 4.7% in the fourth quarter. Geode Capital Management LLC now owns 2,382,712 shares of the company’s stock worth $546,789,000 after acquiring an additional 106,821 shares during the last quarter. Finally, Morgan Stanley boosted its stake in shares of Reddit by 11.4% in the 4th quarter. Morgan Stanley now owns 2,372,443 shares of the company’s stock valued at $545,354,000 after purchasing an additional 242,709 shares in the last quarter.

Key Reddit News

Here are the key news stories impacting Reddit this week:

• Positive Sentiment: Options activity jumped as traders bought far more Reddit call options than usual, suggesting rising bullish sentiment and expectations for further upside. Why is Reddit (RDDT) stock soaring today
• Positive Sentiment: Analysts and market commentary highlighted Reddit’s stronger engagement, international expansion, and new ad tools, reinforcing the company’s long-term growth narrative despite recent volatility. Reddit Stock Falls 28.2% in 6 Months: Should You Buy the Dip?
• Neutral Sentiment: Reddit’s CEO sold 18,000 shares under a pre-arranged 10b5-1 plan. While the sale is worth watching, the transaction was disclosed as part of a scheduled trading program and does not necessarily signal a change in business outlook. SEC filing
• Neutral Sentiment: Some of Thursday’s weakness appears to be simple profit-taking after a 12.5% surge tied to optimism about Reddit’s AI data-licensing opportunities. Why Is Reddit Stock Pulling Back on Thursday?

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on RDDT. Weiss Ratings reiterated a “hold (c)” rating on shares of Reddit in a research report on Friday, May 8th. Jefferies Financial Group cut their price objective on shares of Reddit from $285.00 to $250.00 and set a “buy” rating for the company in a research report on Tuesday, March 10th. Piper Sandler reiterated an “overweight” rating and set a $215.00 price objective (up from $205.00) on shares of Reddit in a research note on Friday, May 1st. Citizens Jmp decreased their target price on shares of Reddit from $250.00 to $240.00 and set a “market outperform” rating on the stock in a report on Friday, May 1st. Finally, Wells Fargo & Company boosted their target price on shares of Reddit from $149.00 to $176.00 and gave the company an “equal weight” rating in a research report on Friday, May 1st. Eighteen investment analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $230.75.

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.