Reddit (NYSE:RDDT) Director Mary Porter Gale Sells 3,000 Shares of Stock

Reddit Inc. (NYSE:RDDT) Director Mary Gale sold 3,000 shares of the company’s stock in a transaction on Tuesday, November 3rd. The shares were sold at an average price of $96.00, for a total transaction of $288,000.00. Following the transaction, the director owned 18,181 shares of the company’s stock, valued at approximately $1,745,376. The trade was a 14.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Reddit Stock Down 7.9%

Reddit stock traded down $8.04 during mid-day trading on Thursday, reaching $93.85. The company had a trading volume of 8,281,352 shares, compared to its average volume of 5,593,524. The firm has a market cap of $18.06 billion, a price-to-earnings ratio of 19.15, a PEG ratio of 0.39 and a beta of 2.28. The company has a 50 day moving average of $145.55 and a 200-day moving average of $157.31. Reddit Inc. has a 52 week low of $89.28 and a 52 week high of $263.50.

Reddit (NYSE:RDDT) last issued its quarterly earnings results on Thursday, October 29th. The company reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.33 by $0.07. The firm had revenue of $894.96 million for the quarter, compared to analyst estimates of $874.91 million. Reddit had a return on equity of 30.57% and a net margin of 32.10%. The company’s quarterly revenue was up 53.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.80 earnings per share. On average, analysts predict that Reddit Inc. will post 5.42 earnings per share for the current fiscal year.

Analyst Ratings Changes

RDDT has been the subject of a number of research reports. Robert W. Baird set a $185.00 target price on Reddit in a research note on Friday, July 31st. Bank of America reiterated a “neutral” rating and set a $135.00 price target (down from $190.00) on shares of Reddit in a research report on Friday, October 30th. Needham & Company LLC decreased their price objective on shares of Reddit from $300.00 to $150.00 and set a “buy” rating on the stock in a report on Friday, October 30th. Morgan Stanley decreased their price objective on shares of Reddit from $240.00 to $210.00 and set an “overweight” rating on the stock in a report on Friday, August 21st. Finally, Truist Financial lowered their price objective on shares of Reddit from $275.00 to $210.00 and set a “buy” rating for the company in a research report on Friday, October 30th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and fifteen have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $180.91.

Hedge Funds Weigh In On Reddit

Institutional investors have recently modified their holdings of the stock. Evansbrook LLC boosted its position in shares of Reddit by 2.2% during the first quarter. Evansbrook LLC now owns 2,736 shares of the company’s stock worth $368,000 after purchasing an additional 59 shares in the last quarter. Signaturefd LLC increased its position in shares of Reddit by 7.6% in the 2nd quarter. Signaturefd LLC now owns 878 shares of the company’s stock valued at $152,000 after buying an additional 62 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Reddit by 48.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 197 shares of the company’s stock valued at $34,000 after buying an additional 64 shares in the last quarter. Versant Capital Management Inc increased its position in shares of Reddit by 31.1% in the 2nd quarter. Versant Capital Management Inc now owns 291 shares of the company’s stock valued at $51,000 after buying an additional 69 shares in the last quarter. Finally, Central Pacific Bank Trust Division raised its stake in Reddit by 8.6% during the 3rd quarter. Central Pacific Bank Trust Division now owns 885 shares of the company’s stock worth $126,000 after buying an additional 70 shares during the period.

Key Headlines Impacting Reddit

Here are the key news stories impacting Reddit this week:

• Positive Sentiment: Reddit was included among communication-services stocks analysts are bullish on, offering a favorable counterpoint to recent rating cuts. Article: Analysts Are Bullish on These Communication Services Stocks
• Positive Sentiment: Reddit’s latest reported quarter beat analyst expectations for earnings and revenue, with revenue up 53% year over year. Company earnings information
• Neutral Sentiment: Brokers issued forecasts for Reddit’s fourth-quarter earnings, but the report provided no forecast figures or revisions to clarify the expected impact. Article: Brokers Issue Forecasts for Reddit’s Q4 Earnings
• Negative Sentiment: KeyCorp cut its FY2028 EPS estimate to $7.06 from $8.73, a notable reduction to its longer-term earnings outlook, although it raised its FY2026 estimate to $5.41 from $4.90. Analyst estimate information
• Negative Sentiment: Loop Capital and Evercore lowered their ratings on Reddit, adding to concerns about near-term expectations. Article: Reddit Stock Rating Lowered by Loop Capital Article: Reddit Rating Lowered to Hold at Evercore
• Negative Sentiment: Block & Leviton announced an investigation into potential securities-law violations. This is an investigation announcement, not a finding of wrongdoing, but it may add uncertainty for investors. Article: Securities Fraud Investigation
• Negative Sentiment: Recent coverage highlights investor concern about AI-powered search and its potential implications for Reddit, keeping that competitive risk in focus despite an article describing a rebound from the scare. Article: Reddit is fighting back against AI Article: Reddit Stock Roars Back From AI Search Scare

About Reddit

Reddit, Inc operates a global online platform where users participate in communities organized around shared interests, topics and activities. Members can submit text posts, links, images and videos, as well as comment on and vote on content. The platform includes thousands of communities, commonly known as subreddits, covering subjects such as news, entertainment, technology, sports, finance and lifestyle.

Reddit generates revenue primarily through digital advertising, offering advertisers access to audiences based on community interests and user engagement.