Jennifer Wong Sells 39,167 Shares of Reddit (NYSE:RDDT) Stock

Reddit Inc. (NYSE:RDDT) COO Jennifer Wong sold 39,167 shares of the company’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $158.52, for a total transaction of $6,208,752.84. Following the completion of the transaction, the chief operating officer directly owned 1,088,451 shares of the company’s stock, valued at $172,541,252.52. This represents a 3.47% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Reddit Stock Performance

Shares of Reddit stock opened at $150.16 on Friday. The company has a market capitalization of $28.91 billion, a P/E ratio of 42.90 and a beta of 1.85. The company has a fifty day moving average of $147.57 and a 200 day moving average of $179.77. Reddit Inc. has a fifty-two week low of $95.23 and a fifty-two week high of $282.95.

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

Reddit News Roundup

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

Wall Street Analysts Forecast Growth

Several analysts have commented on RDDT shares. Cantor Fitzgerald boosted their price target on shares of Reddit from $170.00 to $180.00 and gave the stock a “neutral” rating in a research note on Friday, May 1st. JPMorgan Chase & Co. decreased their price target on shares of Reddit from $227.00 to $200.00 and set a “neutral” rating on the stock in a research note on Friday, February 6th. Rothschild & Co Redburn set a $110.00 price target on shares of Reddit in a research note on Monday, April 27th. Raymond James Financial set a $180.00 price target on shares of Reddit and gave the stock a “market perform” rating in a research note on Friday, May 1st. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Reddit in a research note on Friday, May 8th. One equities 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’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $228.61.

Institutional Trading of Reddit

Hedge funds have recently made changes to their positions in the business. Raiffeisen Bank International AG purchased a new stake in shares of Reddit during the 3rd quarter valued at about $25,000. Sunbelt Securities Inc. raised its position in shares of Reddit by 87.5% during the 1st quarter. Sunbelt Securities Inc. now owns 195 shares of the company’s stock valued at $26,000 after buying an additional 91 shares in the last quarter. GW&K Investment Management LLC purchased a new stake in shares of Reddit during the 3rd quarter valued at about $30,000. Ascentis Independent Advisors purchased a new stake in shares of Reddit during the 1st quarter valued at about $30,000. Finally, Cornerstone Planning Group LLC raised its position in shares of Reddit by 13,500.0% during the 3rd quarter. Cornerstone Planning Group LLC now owns 136 shares of the company’s stock valued at $31,000 after buying an additional 135 shares in the last quarter.

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.