Michelle Marie Reynolds Sells 808 Shares of Reddit (NYSE:RDDT) Stock

Reddit Inc. (NYSE:RDDT) CAO Michelle Marie Reynolds sold 808 shares of the business’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $200.00, for a total transaction of $161,600.00. Following the sale, the chief accounting officer directly owned 15,060 shares in the company, valued at approximately $3,012,000. This represents a 5.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Reddit Trading Down 0.8%

Shares of Reddit stock opened at $199.32 on Wednesday. The firm’s 50 day simple moving average is $166.78 and its two-hundred day simple moving average is $171.23. The firm has a market capitalization of $38.37 billion, a price-to-earnings ratio of 56.95 and a beta of 1.93. Reddit Inc. has a 12-month low of $119.27 and a 12-month high of $282.95.

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

Analyst Upgrades and Downgrades

A number of research firms recently commented on RDDT. Cantor Fitzgerald lifted their target price on Reddit from $170.00 to $180.00 and gave the stock a “neutral” rating in a report on Friday, May 1st. Rothschild & Co Redburn set a $110.00 price target on shares of Reddit in a research report on Monday, April 27th. Oppenheimer restated an “outperform” rating and set a $225.00 price objective on shares of Reddit in a research note on Friday, May 1st. Zacks Research lowered shares of Reddit from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 3rd. Finally, Truist Financial set a $265.00 target price on shares of Reddit in a report on Friday, May 1st. Eighteen equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. According to MarketBeat, Reddit currently has an average rating of “Moderate Buy” and a consensus price target of $231.14.

Institutional Investors Weigh In On Reddit

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. NewEdge Advisors LLC lifted its stake in shares of Reddit by 143.3% in the 1st quarter. NewEdge Advisors LLC now owns 7,982 shares of the company’s stock valued at $837,000 after purchasing an additional 4,701 shares during the period. Empowered Funds LLC acquired a new stake in Reddit during the first quarter valued at $213,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Reddit by 106.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 216,960 shares of the company’s stock valued at $22,759,000 after buying an additional 111,780 shares during the period. Focus Partners Wealth increased its holdings in Reddit by 40.8% in the first quarter. Focus Partners Wealth now owns 10,224 shares of the company’s stock valued at $1,073,000 after buying an additional 2,965 shares in the last quarter. Finally, Geneos Wealth Management Inc. raised its position in shares of Reddit by 344.6% in the first quarter. Geneos Wealth Management Inc. now owns 369 shares of the company’s stock worth $39,000 after acquiring an additional 286 shares during the period.

Reddit News Roundup

Here are the key news stories impacting Reddit this week:

• Positive Sentiment: Wells Fargo raised its price target on Reddit to $187 from $176, reinforcing a constructive view on the stock and helping support bullish momentum after a recent rally. Wells Fargo raises target on Reddit
• Positive Sentiment: Reddit is expanding its AI licensing business, which investors may view as an additional revenue stream tied to demand for its content in the AI ecosystem. Reddit expands AI licensing
• Positive Sentiment: The company is accelerating AI safety and anti-spam efforts, including stronger bot detection and human verification, which could improve user trust and protect the quality of Reddit conversations. Reddit AI safety drive accelerates
• Neutral Sentiment: Coverage on Reddit’s recent rally highlights technical strength and potential upside levels, but it is mostly a trading-focused read rather than a new fundamental catalyst. Options Corner video on RDDT
• Neutral Sentiment: Insider selling by the company’s CAO was disclosed, but the transaction was small and occurred under a pre-arranged 10b5-1 plan, making it less likely to signal a major change in outlook. Reddit CAO sells stock
• Negative Sentiment: Despite the higher target, Wells Fargo still rates Reddit “equal weight,” implying the stock may be close to fairly valued rather than dramatically undervalued at current levels. Wells Fargo equal weight rating on Reddit

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.