Rep. Robert Bresnahan, Jr. Sells Reddit, Inc. (NYSE:RDDT) Stock

Representative Robert Bresnahan, Jr. (R-Pennsylvania) recently sold shares of Reddit, Inc. NYSE: RDDT. In a filing disclosed on April 09th, the Representative disclosed that they had sold between $1,001 and $15,000 in Reddit stock on March 11th. 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 Cadence Design Systems NASDAQ: CDNS on 3/17/2025.
• Purchased $1,001 - $15,000 in shares of ServiceNow NYSE: NOW on 3/13/2025.
• Purchased $1,001 - $15,000 in shares of Intel NASDAQ: INTC on 3/13/2025.
• Purchased $1,001 - $15,000 in shares of SEA NYSE: SE on 3/11/2025.
• Sold $1,001 - $15,000 in shares of Robinhood Markets NASDAQ: HOOD on 3/11/2025.
• Sold $1,001 - $15,000 in shares of Oracle NYSE: ORCL on 3/11/2025.
• Purchased $1,001 - $15,000 in shares of International Business Machines NYSE: IBM on 3/11/2025.
• Sold $1,001 - $15,000 in shares of Tesla NASDAQ: TSLA on 3/11/2025.
• Sold $1,001 - $15,000 in shares of Broadcom NASDAQ: AVGO on 3/11/2025.
• Sold $1,001 - $15,000 in shares of NVIDIA NASDAQ: NVDA on 3/11/2025.

Reddit Stock Down 3.1 %

NYSE RDDT traded down $3.11 during mid-day trading on Monday, hitting $98.04. The stock had a trading volume of 3,936,215 shares, compared to its average volume of 5,494,993. The company has a market cap of $17.74 billion and a price-to-earnings ratio of -12.68. Reddit, Inc. has a 52-week low of $37.35 and a 52-week high of $230.41. The company has a 50 day simple moving average of $143.88 and a 200 day simple moving average of $140.36.

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Reddit (NYSE:RDDT - Get Free Report) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $0.36 EPS for the quarter, beating analysts' consensus estimates of $0.24 by $0.12. Reddit had a negative net margin of 37.25% and a negative return on equity of 24.71%. As a group, equities analysts anticipate that Reddit, Inc. will post 1.12 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on RDDT shares. The Goldman Sachs Group reduced their price objective on Reddit from $185.00 to $124.00 and set a "neutral" rating on the stock in a research report on Monday. Roth Capital downgraded shares of Reddit from a "strong-buy" rating to a "hold" rating in a report on Wednesday, January 22nd. Bank of America cut their price objective on shares of Reddit from $190.00 to $110.00 and set a "neutral" rating for the company in a research report on Wednesday, April 9th. Roth Mkm lowered shares of Reddit from a "buy" rating to a "neutral" rating and raised their target price for the stock from $116.00 to $195.00 in a research report on Wednesday, January 22nd. Finally, Seaport Res Ptn upgraded Reddit to a "hold" rating in a report on Thursday, February 6th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $149.36.

Insider Activity

In other Reddit news, Director David C. Habiger bought 774 shares of the business's stock in a transaction on Wednesday, March 12th. The shares were bought at an average cost of $130.36 per share, with a total value of $100,898.64. Following the transaction, the director now directly owns 30,808 shares in the company, valued at approximately $4,016,130.88. This trade represents a 2.58 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Steve Ladd Huffman sold 14,000 shares of the stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $103.28, for a total value of $1,445,920.00. Following the transaction, the chief executive officer now owns 577,013 shares of the company's stock, valued at approximately $59,593,902.64. This trade represents a 2.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 603,794 shares of company stock worth $89,386,704.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of RDDT. Ridgewood Investments LLC raised its holdings in shares of Reddit by 100.0% during the 4th quarter. Ridgewood Investments LLC now owns 200 shares of the company's stock valued at $33,000 after buying an additional 100 shares during the period. Proficio Capital Partners LLC grew its position in Reddit by 2.1% in the fourth quarter. Proficio Capital Partners LLC now owns 5,908 shares of the company's stock valued at $966,000 after acquiring an additional 120 shares in the last quarter. Farther Finance Advisors LLC raised its stake in shares of Reddit by 148.5% during the fourth quarter. Farther Finance Advisors LLC now owns 246 shares of the company's stock valued at $40,000 after purchasing an additional 147 shares during the period. UMB Bank n.a. lifted its position in shares of Reddit by 10.8% during the fourth quarter. UMB Bank n.a. now owns 1,533 shares of the company's stock worth $251,000 after purchasing an additional 150 shares in the last quarter. Finally, Foundations Investment Advisors LLC lifted its position in shares of Reddit by 3.0% during the fourth quarter. Foundations Investment Advisors LLC now owns 5,325 shares of the company's stock worth $870,000 after purchasing an additional 155 shares in the last quarter.

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

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.