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

Representative Robert Bresnahan, Jr. (R-Pennsylvania) recently sold shares of Reddit, Inc. NYSE: RDDT. In a filing disclosed on April 22nd, the Representative disclosed that they had sold between $1,001 and $15,000 in Reddit stock on April 4th. 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 Okta NASDAQ: OKTA on 4/4/2025.
• Sold $1,001 - $15,000 in shares of Cloudflare NYSE: NET on 4/4/2025.
• Sold $1,001 - $15,000 in shares of SanDisk NASDAQ: SNDK on 4/4/2025.
• Sold $1,001 - $15,000 in shares of Robinhood Markets NASDAQ: HOOD on 4/3/2025.
• Purchased $1,001 - $15,000 in shares of Microsoft NASDAQ: MSFT on 4/3/2025.
• Sold $1,001 - $15,000 in shares of Broadcom NASDAQ: AVGO on 4/3/2025.
• Sold $1,001 - $15,000 in shares of Amazon.com NASDAQ: AMZN on 4/3/2025.
• Sold $1,001 - $15,000 in shares of Shopify NYSE: SHOP on 4/3/2025.
• Sold $1,001 - $15,000 in shares of Meta Platforms NASDAQ: META on 4/2/2025.
• Purchased $1,001 - $15,000 in shares of Intuit NASDAQ: INTU on 4/1/2025.

Reddit Stock Up 5.4 %

Shares of NYSE RDDT traded up $6.10 on Friday, reaching $118.35. 8,681,578 shares of the company's stock traded hands, compared to its average volume of 5,604,698. The business's 50 day simple moving average is $122.11 and its two-hundred day simple moving average is $142.14. Reddit, Inc. has a 12 month low of $44.15 and a 12 month high of $230.41. The company has a market cap of $21.41 billion and a price-to-earnings ratio of -15.31.

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

Insider Activity at Reddit

In related news, CEO Steve Ladd Huffman sold 14,000 shares of the business's stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $201.96, for a total value of $2,827,440.00. Following the transaction, the chief executive officer now directly owns 614,394 shares of the company's stock, valued at approximately $124,083,012.24. The trade was a 2.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Andrew Vollero sold 100,000 shares of the stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $124.08, for a total transaction of $12,408,000.00. Following the sale, the chief financial officer now directly owns 499,295 shares of the company's stock, valued at approximately $61,952,523.60. This trade represents a 16.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 725,270 shares of company stock worth $97,067,425.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Needham & Company LLC reissued a "buy" rating and set a $220.00 price objective on shares of Reddit in a research report on Friday, March 21st. B. Riley increased their price target on shares of Reddit from $112.00 to $187.00 and gave the company a "buy" rating in a report on Tuesday, January 14th. Morgan Stanley decreased their price objective on shares of Reddit from $210.00 to $140.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. Guggenheim cut their target price on Reddit from $210.00 to $170.00 and set a "buy" rating on the stock in a research note on Thursday, March 20th. Finally, Roth Mkm lowered Reddit from a "buy" rating to a "neutral" rating and lifted their target price for the stock from $116.00 to $195.00 in a report on Wednesday, January 22nd. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Reddit has an average rating of "Moderate Buy" and a consensus price target of $142.22.

Institutional Trading of Reddit

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Plato Investment Management Ltd purchased a new stake in Reddit in the 4th quarter worth approximately $27,000. EverSource Wealth Advisors LLC bought a new position in shares of Reddit in the fourth quarter worth approximately $28,000. Ridgewood Investments LLC boosted its position in shares of Reddit by 100.0% in the fourth quarter. Ridgewood Investments LLC now owns 200 shares of the company's stock worth $33,000 after purchasing an additional 100 shares during the period. Farmers & Merchants Investments Inc. purchased a new stake in shares of Reddit in the fourth quarter worth $33,000. Finally, Bogart Wealth LLC bought a new stake in shares of Reddit during the 4th quarter valued at $33,000.

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.

About Reddit

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.