Reddit (NYSE:RDDT) Stock: Insider Mary Porter Gale Sells 4,000 Shares

Reddit Inc. (NYSE:RDDT) Director Mary Gale sold 4,000 shares of Reddit stock in a transaction that occurred on Friday, November 6th. The shares were sold at an average price of $96.00, for a total value of $384,000.00. Following the completion of the transaction, the director owned 11,181 shares of the company’s stock, valued at approximately $1,073,376. The trade was a 26.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Mary Porter Gale also recently made the following trade(s):

• On Tuesday, November 3rd, Mary Gale sold 3,000 shares of Reddit stock. The stock was sold at an average price of $96.00, for a total transaction of $288,000.00.

Reddit Stock Performance

RDDT opened at $105.55 on Thursday. The stock’s fifty day moving average is $141.58 and its 200-day moving average is $154.97. Reddit Inc. has a one year low of $89.28 and a one year high of $263.50. The company has a market capitalization of $20.38 billion, a PE ratio of 20.14, a P/E/G ratio of 0.40 and a beta of 2.28.

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

Wall Street Analyst Weigh In

Several research firms have weighed in on RDDT. BNP Paribas Exane cut their target price on Reddit from $180.00 to $110.00 in a report on Friday, October 30th. Weiss Ratings reiterated a “hold (c)” rating on shares of Reddit in a research note on Tuesday, November 3rd. Evercore downgraded Reddit from an “outperform” rating to a “hold” rating and set a $120.00 price target on the stock. in a research report on Monday, November 2nd. Zacks Research raised Reddit from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 27th. Finally, Needham & Company LLC reduced their price objective on Reddit from $300.00 to $150.00 and set a “buy” rating for the company in a research report on Friday, October 30th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and fifteen have assigned a Hold rating to the stock. According to MarketBeat, Reddit presently has an average rating of “Moderate Buy” and a consensus target price of $180.00.

Hedge Funds Weigh In On Reddit

Institutional investors have recently bought and sold shares of the business. Sunbelt Securities Inc. increased its position in Reddit by 87.5% in the 1st quarter. Sunbelt Securities Inc. now owns 195 shares of the company’s stock valued at $26,000 after acquiring an additional 91 shares in the last quarter. Ascentis Independent Advisors acquired a new position in Reddit during the 1st quarter worth $30,000. EverSource Wealth Advisors LLC increased its stake 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 during the period. Beacon Investment Advisory Services Inc. acquired a new position in shares of Reddit during the second quarter valued at $35,000. Finally, Root Financial Partners LLC acquired a new position in shares of Reddit during the third quarter valued at $41,000.

Latest Reddit News

These are some of the RDDT news items that stood out recently:

• Positive Sentiment: The company introduced Reddit Reviews, which uses AI to organize product-related community discussions into reviews and takeaways. The feature could strengthen Reddit’s appeal for product research and help monetize user activity. Reddit is turning user conversations into AI-powered product reviews
• Neutral Sentiment: Guggenheim lowered its price target to $140 from $170 but kept a Buy rating, signaling a reduced valuation outlook while maintaining a positive recommendation. Guggenheim stock recommendations
• Negative Sentiment: Law firms announced securities investigations following Reddit’s reported sharp share decline. These are investigations, not findings of wrongdoing, but they add legal uncertainty. Block & Leviton investigation announcement Kirby McInerney investigation announcement

About Reddit

Reddit, Inc. operates Reddit, an online platform where users share posts, discuss topics and participate in communities known as subreddits. Members can submit text, images, videos and links, comment on posts, and vote on content, helping shape what appears in each community. The company generates revenue primarily through advertising and also offers paid subscriptions and other products. Reddit serves users and advertisers around the world through its website and mobile applications. Reddit was founded in 2005 by Steve Huffman, Alexis Ohanian and Aaron Swartz.