Representative Robert Bresnahan, Jr. (R-Pennsylvania) recently bought shares of Reddit, Inc. NYSE: RDDT. In a filing disclosed on March 10th, the Representative disclosed that they had bought between $1,001 and $15,000 in Reddit stock on February 14th. The trade occurred in the Representative's "JP MORGAN BROKERAGE ACCOUNT #2" account.
Representative Robert Bresnahan, Jr. also recently made the following trade(s):
- Purchased $1,001 - $15,000 in shares of Alibaba Group NYSE: BABA on 2/21/2025.
- Purchased $1,001 - $15,000 in shares of Intel NASDAQ: INTC on 2/20/2025.
- Sold $1,001 - $15,000 in shares of Robinhood Markets NASDAQ: HOOD on 2/20/2025.
- Sold $1,001 - $15,000 in shares of Meta Platforms NASDAQ: META on 2/20/2025.
- Sold $1,001 - $15,000 in shares of Astera Labs NASDAQ: ALAB on 2/18/2025.
- Purchased $1,001 - $15,000 in shares of Intel NASDAQ: INTC on 2/14/2025.
- Sold $1,001 - $15,000 in shares of Oracle NYSE: ORCL on 2/14/2025.
- Purchased $1,001 - $15,000 in shares of Snowflake NYSE: SNOW on 2/13/2025.
- Sold $1,001 - $15,000 in shares of Arista Networks NYSE: ANET on 2/13/2025.
- Sold $1,001 - $15,000 in shares of Robinhood Markets NASDAQ: HOOD on 2/12/2025.
Reddit Trading Up 14.6 %
Shares of Reddit stock opened at $123.01 on Wednesday. The stock has a 50-day moving average price of $179.61 and a 200 day moving average price of $132.31. The company has a market cap of $22.25 billion and a P/E ratio of -15.91. Reddit, Inc. has a 1 year low of $37.35 and a 1 year high of $230.41.
Reddit (NYSE:RDDT - Get Free Report) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.12. Reddit had a negative return on equity of 24.71% and a negative net margin of 37.25%. On average, equities analysts forecast that Reddit, Inc. will post 1.12 earnings per share for the current fiscal year.
Insider Buying and Selling at Reddit
In other Reddit news, CAO Michelle Marie Reynolds sold 11,965 shares of the firm's stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $157.41, for a total value of $1,883,410.65. Following the completion of the sale, the chief accounting officer now owns 48,418 shares in the company, valued at approximately $7,621,477.38. This trade represents a 19.82 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Benjamin Seong Lee sold 92,299 shares of the firm's stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $157.35, for a total value of $14,523,247.65. Following the completion of the sale, the insider now owns 115,001 shares of the company's stock, valued at $18,095,407.35. This represents a 44.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 393,386 shares of company stock valued at $66,673,388 in the last 90 days.
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in the stock. FMR LLC grew its holdings in Reddit by 7.5% in the 4th quarter. FMR LLC now owns 13,070,780 shares of the company's stock valued at $2,136,288,000 after buying an additional 913,189 shares during the last quarter. Vanguard Group Inc. grew its holdings in Reddit by 184.2% in the 4th quarter. Vanguard Group Inc. now owns 9,181,390 shares of the company's stock valued at $1,500,606,000 after buying an additional 5,950,909 shares during the last quarter. Jennison Associates LLC acquired a new stake in Reddit in the 4th quarter valued at approximately $494,861,000. Holocene Advisors LP grew its holdings in Reddit by 177.6% in the 3rd quarter. Holocene Advisors LP now owns 3,005,977 shares of the company's stock valued at $198,154,000 after buying an additional 1,923,109 shares during the last quarter. Finally, Alliancebernstein L.P. grew its holdings in Reddit by 1,011.1% in the 4th quarter. Alliancebernstein L.P. now owns 2,788,758 shares of the company's stock valued at $455,795,000 after buying an additional 2,537,768 shares during the last quarter.
Analysts Set New Price Targets
Several equities research analysts recently issued reports on RDDT shares. B. Riley increased their price objective on Reddit from $112.00 to $187.00 and gave the stock a "buy" rating in a research note on Tuesday, January 14th. Loop Capital increased their price objective on Reddit from $180.00 to $210.00 and gave the stock a "buy" rating in a research note on Thursday, February 13th. The Goldman Sachs Group upped their target price on Reddit from $105.00 to $176.00 and gave the stock a "neutral" rating in a research report on Tuesday, January 14th. Needham & Company LLC upped their target price on Reddit from $190.00 to $220.00 and gave the stock a "buy" rating in a research report on Thursday, February 13th. Finally, Seaport Res Ptn raised Reddit to a "hold" rating in a research report on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $175.95.
Get Our Latest Stock Analysis on RDDT
About Representative Bresnahan
Rob Bresnahan Jr. (Republican Party) is a member of the U.S. House, representing Pennsylvania's 8th Congressional District. He assumed office on January 3, 2025. His current term ends on January 3, 2027.
Bresnahan (Republican Party) is running for re-election to the U.S. House to represent Pennsylvania's 8th Congressional District. He declared candidacy for the 2026 election.
Rob Bresnahan Jr. was born in Kingston, Pennsylvania. He earned a B.S. in business administration, management and operations from the University of Scranton in 2012. His career experience includes working as the chief financial officer and CEO of a family business, an electrical contracting company.
Reddit Company Profile
(
Get Free Report)
Reddit, Inc operates a website that organizes digital communities. It organizes communities based on specific interests that enable users to engage in conversations by sharing experiences, submitting links, uploading images and videos, and replying to one another. The company was founded in 2005 and is headquartered in San Francisco, California.
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