Insider Selling: Reddit (NYSE:RDDT) CEO Sells $2,828,700.00 in Stock

Reddit Inc. (NYSE:RDDT) CEO Steve Ladd Huffman sold 18,000 shares of the stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $157.15, for a total transaction of $2,828,700.00. Following the sale, the chief executive officer owned 411,195 shares of the company’s stock, valued at approximately $64,619,294.25. This represents a 4.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• 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 transaction of $3,092,400.00.
• On Wednesday, April 15th, Steve Ladd Huffman sold 18,000 shares of Reddit stock. The stock was sold at an average price of $158.40, for a total transaction of $2,851,200.00.
• On Tuesday, March 31st, Steve Ladd Huffman sold 18,000 shares of Reddit stock. The shares were sold at an average price of $132.77, for a total value of $2,389,860.00.
• On Friday, March 13th, Steve Ladd Huffman sold 18,000 shares of Reddit stock. The shares were sold at an average price of $132.86, for a total value of $2,391,480.00.
• On Friday, February 27th, Steve Ladd Huffman sold 18,000 shares of Reddit stock. The shares were sold at an average price of $145.12, for a total value of $2,612,160.00.

Reddit Stock Performance

RDDT opened at $150.16 on Friday. Reddit Inc. has a 52-week low of $95.23 and a 52-week high of $282.95. The stock has a market capitalization of $28.91 billion, a PE ratio of 42.90 and a beta of 1.85. The stock’s 50 day moving average price is $147.57 and its 200-day moving average price is $179.77.

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

Wall Street Analyst Weigh In

RDDT has been the subject of several research analyst reports. Morgan Stanley set a $240.00 target price on shares of Reddit in a research report on Friday, February 6th. Piper Sandler reiterated an “overweight” rating and set a $215.00 target price (up from $205.00) on shares of Reddit in a report on Friday, May 1st. Roth Mkm raised their price objective on Reddit from $210.00 to $215.00 and gave the company a “neutral” rating in a research report on Friday, January 30th. Rothschild & Co Redburn set a $110.00 price objective on Reddit in a research note on Monday, April 27th. Finally, Guggenheim lifted their price objective on Reddit from $245.00 to $255.00 and gave the company a “buy” rating in a research note on Friday, February 6th. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat.com, Reddit currently has an average rating of “Moderate Buy” and an average target price of $228.61.

Hedge Funds Weigh In On Reddit

Hedge funds have recently added to or reduced their stakes in the company. Huntington National Bank boosted its position in shares of Reddit by 25.6% during the third quarter. Huntington National Bank now owns 270 shares of the company’s stock valued at $62,000 after buying an additional 55 shares during the last quarter. Institute for Wealth Management LLC. raised its holdings in shares of Reddit by 6.1% during the fourth quarter. Institute for Wealth Management LLC. now owns 1,071 shares of the company’s stock valued at $246,000 after purchasing an additional 62 shares during the last quarter. Roxbury Financial LLC raised its holdings in shares of Reddit by 7.4% during the fourth quarter. Roxbury Financial LLC now owns 929 shares of the company’s stock valued at $214,000 after purchasing an additional 64 shares during the last quarter. Florida Financial Advisors LLC raised its holdings in shares of Reddit by 6.7% during the fourth quarter. Florida Financial Advisors LLC now owns 1,087 shares of the company’s stock valued at $250,000 after purchasing an additional 68 shares during the last quarter. Finally, Diversified Trust Co raised its holdings in shares of Reddit by 2.1% during the first quarter. Diversified Trust Co now owns 3,271 shares of the company’s stock valued at $440,000 after purchasing an additional 68 shares during the last quarter.

Key Headlines Impacting Reddit

Here are the key news stories impacting Reddit this week:

• Positive Sentiment: Analysts and commentators continue to highlight rapid revenue growth, strong margins, and improving monetization as reasons Reddit could have more upside over time. Article Title
• Positive Sentiment: Reddit’s ARPU jumped 44% in the latest quarter, supported by advertiser growth, AI ad tools, and international expansion, which suggests stronger monetization. Article Title
• Positive Sentiment: One bullish note says Reddit remains oversold after a steep decline and still offers attractive risk-reward given its user growth and strong gross margins. Article Title

About Reddit

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.