Rep. Robert Bresnahan, Jr. Purchases Shares of Reddit, Inc. (NYSE:RDDT)

Representative Robert Bresnahan, Jr. (R-Pennsylvania) recently bought shares of Reddit, Inc. (NYSE:RDDT). In a filing disclosed on March 10th, the Representative disclosed that they had bought between $1,001 and $15,000 in Reddit stock on February 14th. The trade occurred in the Representative’s “JP MORGAN BROKERAGE ACCOUNT #2” account.

Representative Robert Bresnahan, Jr. also recently made the following trade(s):

• Purchased $1,001 – $15,000 in shares of Alibaba Group (NYSE:BABA) on 2/21/2025.
• Purchased $1,001 – $15,000 in shares of Intel (NASDAQ:INTC) on 2/20/2025.
• Sold $1,001 – $15,000 in shares of Robinhood Markets (NASDAQ:HOOD) on 2/20/2025.
• Sold $1,001 – $15,000 in shares of Meta Platforms (NASDAQ:META) on 2/20/2025.
• Sold $1,001 – $15,000 in shares of Astera Labs (NASDAQ:ALAB) on 2/18/2025.
• Purchased $1,001 – $15,000 in shares of Intel (NASDAQ:INTC) on 2/14/2025.
• Sold $1,001 – $15,000 in shares of Oracle (NYSE:ORCL) on 2/14/2025.
• Purchased $1,001 – $15,000 in shares of Snowflake (NYSE:SNOW) on 2/13/2025.
• Sold $1,001 – $15,000 in shares of Arista Networks (NYSE:ANET) on 2/13/2025.
• Sold $1,001 – $15,000 in shares of Robinhood Markets (NASDAQ:HOOD) on 2/12/2025.

Reddit Stock Up 14.6 %

NYSE:RDDT opened at $123.01 on Wednesday. Reddit, Inc. has a twelve month low of $37.35 and a twelve month high of $230.41. The company has a market cap of $22.25 billion and a P/E ratio of -15.91. The business has a 50 day moving average price of $179.61 and a two-hundred day moving average price of $132.31.

Reddit (NYSE:RDDT) last released its earnings results on Wednesday, February 12th. The company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.12. Reddit had a negative net margin of 37.25% and a negative return on equity of 24.71%. As a group, analysts anticipate that Reddit, Inc. will post 1.12 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on RDDT. Raymond James upped their target price on Reddit from $200.00 to $250.00 and gave the stock a “strong-buy” rating in a report on Monday, February 10th. JPMorgan Chase & Co. increased their price objective on Reddit from $142.00 to $185.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. The Goldman Sachs Group boosted their target price on shares of Reddit from $105.00 to $176.00 and gave the stock a “neutral” rating in a report on Tuesday, January 14th. JMP Securities increased their price target on shares of Reddit from $190.00 to $200.00 and gave the company a “market outperform” rating in a research note on Thursday, February 13th. Finally, Robert W. Baird boosted their price objective on shares of Reddit from $160.00 to $185.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Reddit presently has an average rating of “Moderate Buy” and a consensus price target of $175.95.

Insider Transactions at Reddit

In other Reddit news, CFO Andrew Vollero sold 48,122 shares of Reddit stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $162.80, for a total value of $7,834,261.60. Following the transaction, the chief financial officer now owns 599,295 shares in the company, valued at $97,565,226. The trade was a 7.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Benjamin Seong Lee sold 92,299 shares of the business’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $157.35, for a total value of $14,523,247.65. Following the transaction, the insider now directly owns 115,001 shares of the company’s stock, valued at approximately $18,095,407.35. The trade was a 44.52 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 393,386 shares of company stock valued at $66,673,388.

Institutional Trading of Reddit

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Plato Investment Management Ltd acquired a new stake in shares of Reddit in the fourth quarter valued at approximately $27,000. EverSource Wealth Advisors LLC bought a new position in Reddit during the 4th quarter worth $28,000. Ridgewood Investments LLC raised its holdings in Reddit by 100.0% in the 4th quarter. Ridgewood Investments LLC now owns 200 shares of the company’s stock valued at $33,000 after acquiring an additional 100 shares in the last quarter. Farmers & Merchants Investments Inc. bought a new stake in shares of Reddit during the 4th quarter valued at $33,000. Finally, Bogart Wealth LLC acquired a new stake in shares of Reddit during the 4th quarter worth $33,000.

About Representative Bresnahan

Rob Bresnahan Jr. (Republican Party) is a member of the U.S. House, representing Pennsylvania’s 8th Congressional District. He assumed office on January 3, 2025. His current term ends on January 3, 2027.

Bresnahan (Republican Party) is running for re-election to the U.S. House to represent Pennsylvania’s 8th Congressional District. He declared candidacy for the 2026 election.

Rob Bresnahan Jr. was born in Kingston, Pennsylvania. He earned a B.S. in business administration, management and operations from the University of Scranton in 2012. His career experience includes working as the chief financial officer and CEO of a family business, an electrical contracting company.

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.