Reddit (NYSE:RDDT) Director Mary Porter Gale Sells 4,000 Shares of Company Stock

Reddit Inc. (NYSE:RDDT) Director Mary Gale sold 4,000 shares of the company’s stock in a transaction on Friday, November 6th. The shares were sold at an average price of $96.00, for a total transaction of $384,000.00. Following the completion of the sale, the director owned 11,181 shares of the company’s stock, valued at approximately $1,073,376. This represents a 26.35% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 value of $288,000.00.

Reddit Trading Down 2.3%

RDDT stock opened at $98.48 on Wednesday. Reddit Inc. has a 1-year low of $89.28 and a 1-year high of $263.50. The firm has a market cap of $19.02 billion, a PE ratio of 20.10, a P/E/G ratio of 0.41 and a beta of 2.28. The business’s 50-day moving average price is $142.35 and its two-hundred day moving average price is $155.53.

Reddit (NYSE:RDDT) last announced its quarterly earnings results 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 company had revenue of $894.96 million during 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 company’s revenue for the quarter was up 53.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.80 earnings per share. On average, analysts forecast that Reddit Inc. will post 5.42 earnings per share for the current year.

Institutional Trading of Reddit

Hedge funds and other institutional investors have recently modified their holdings of the company. Wellington Management Group LLP grew its stake in shares of Reddit by 21.8% during the 2nd quarter. Wellington Management Group LLP now owns 1,564,535 shares of the company’s stock worth $271,572,000 after acquiring an additional 280,030 shares in the last quarter. State Street Corp lifted its position in shares of Reddit by 8.7% in the second quarter. State Street Corp now owns 2,979,587 shares of the company’s stock worth $517,197,000 after purchasing an additional 237,523 shares in the last quarter. Moore Capital Management LP lifted its position in shares of Reddit by 611.4% in the second quarter. Moore Capital Management LP now owns 12,577 shares of the company’s stock worth $2,183,000 after purchasing an additional 10,809 shares in the last quarter. Light Street Capital Management LLC bought a new stake in shares of Reddit in the second quarter worth $31,678,000. Finally, PensionDanmark Pensionsforsikringsaktieselskab lifted its position in shares of Reddit by 102.3% in the second quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 19,120 shares of the company’s stock worth $3,319,000 after purchasing an additional 9,670 shares in the last quarter.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. President Capital lowered their target price on Reddit from $207.00 to $199.00 and set a “buy” rating for the company in a research note on Thursday, September 17th. Loop Capital downgraded shares of Reddit from a “buy” rating to a “hold” rating and set a $100.00 target price on the stock. in a report on Monday, November 2nd. Morgan Stanley cut their price target on shares of Reddit from $240.00 to $210.00 and set an “overweight” rating on the stock in a research note on Friday, August 21st. Raymond James Financial reiterated a “strong-buy” rating and issued a $205.00 price target on shares of Reddit in a report on Monday, August 17th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Reddit from $185.00 to $150.00 and set a “neutral” rating for the company in a report on Friday, October 30th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and fifteen have given a Hold rating to the company’s stock. According to MarketBeat.com, Reddit currently has an average rating of “Moderate Buy” and a consensus price target of $180.00.

Key Reddit News

Here are the key news stories impacting Reddit this week:

• Positive Sentiment: Reddit launched Reddit Reviews, which uses AI to organize community discussions into product reviews and key takeaways. The feature could make Reddit more useful for product research and create opportunities to convert user activity into revenue. Reddit is turning user conversations into AI-powered product reviews
• Positive Sentiment: A Seeking Alpha analysis argues that the selloff may discount the potential value of conversion traffic, suggesting investors may be underestimating Reddit’s ability to turn visitors into users and customers. Reddit’s 29% Earnings Selloff May Be Overlooking Conversion Traffic Potential
• Neutral Sentiment: Guggenheim cut its price target to $140 from $170 but maintained a Buy rating. The lower target reflects a more cautious outlook, while the rating indicates the firm still sees potential upside. Guggenheim stock recommendations
• Negative Sentiment: Google search traffic is a key concern: Reddit’s COO said more than 80% of monetization comes from logged-in users, leaving the remaining portion more exposed to Google’s pressure on traffic. That risk may contribute to investor worries about future growth. Reddit COO Says “Over 80% of Our Monetization” Is Logged In. Google Is Squeezing the Rest
• Negative Sentiment: Two law firms announced securities investigations following the reported 29.2% share drop. These are investigations, not findings of wrongdoing, but the announcements add legal uncertainty and negative headlines. Block & Leviton investigation announcement Kirby McInerney investigation announcement
• Negative Sentiment: Director Mary Gale sold 4,000 shares for $384,000, reducing her reported holdings by 26.35%. Insider sales can have varied motivations, but may add to cautious sentiment. SEC Form 4 filing

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.