Reddit (NYSE:RDDT) COO Sells $12,223,651.44 in Stock

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

Reddit Trading Up 6.3%

RDDT traded up $11.58 on Monday, reaching $195.06. The stock had a trading volume of 5,226,548 shares, compared to its average volume of 5,836,773. The company has a market capitalization of $36.96 billion, a price-to-earnings ratio of 112.10, a price-to-earnings-growth ratio of 2.02 and a beta of 2.15. The firm has a 50-day moving average of $210.57 and a 200-day moving average of $180.67. Reddit Inc. has a fifty-two week low of $79.75 and a fifty-two week high of $282.95.

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

Hedge Funds Weigh In On Reddit

Hedge funds have recently made changes to their positions in the company. Raiffeisen Bank International AG acquired a new position in Reddit in the third quarter valued at approximately $25,000. GW&K Investment Management LLC purchased a new position in shares of Reddit during the 3rd quarter worth approximately $30,000. Cornerstone Planning Group LLC grew its position in Reddit by 13,500.0% in the 3rd quarter. Cornerstone Planning Group LLC now owns 136 shares of the company’s stock valued at $31,000 after acquiring an additional 135 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Reddit by 8,650.0% in the third quarter. GAMMA Investing LLC now owns 175 shares of the company’s stock valued at $40,000 after acquiring an additional 173 shares in the last quarter. Finally, Cloud Capital Management LLC purchased a new position in Reddit in the third quarter worth approximately $47,000.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on RDDT shares. Argus began coverage on shares of Reddit in a report on Monday, August 18th. They set a “buy” rating and a $250.00 price objective for the company. Citigroup increased their price target on shares of Reddit from $250.00 to $265.00 and gave the stock a “buy” rating in a research note on Monday, November 3rd. Morgan Stanley reiterated an “overweight” rating and set a $250.00 price target on shares of Reddit in a report on Friday, October 31st. Jefferies Financial Group increased their target price on Reddit from $230.00 to $300.00 and gave the company a “buy” rating in a report on Wednesday, September 10th. Finally, Guggenheim upped their target price on shares of Reddit from $165.00 to $215.00 and gave the stock a “buy” rating in a report on Friday, August 1st. Three equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Reddit presently has a consensus rating of “Moderate Buy” and a consensus price target of $226.33.

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.