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 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 1.0 %

NYSE:RDDT opened at $101.01 on Friday. The stock has a market capitalization of $18.27 billion and a price-to-earnings ratio of -13.07. Reddit, Inc. has a 52 week low of $37.35 and a 52 week high of $230.41. The firm has a 50 day moving average of $143.88 and a 200 day moving average of $139.85.

Reddit (NYSE:RDDT) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $0.36 EPS for the quarter, beating 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%. As a group, analysts expect that Reddit, Inc. will post 1.12 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. FMR LLC increased its stake in shares of 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 purchasing an additional 913,189 shares in the last quarter. Vanguard Group Inc. grew its holdings in Reddit by 184.2% in the fourth quarter. Vanguard Group Inc. now owns 9,181,390 shares of the company’s stock valued at $1,500,606,000 after purchasing an additional 5,950,909 shares during the period. Jennison Associates LLC purchased a new stake in shares of Reddit in the fourth quarter valued at approximately $494,861,000. Alliancebernstein L.P. raised its stake in shares of Reddit by 1,011.1% during the 4th quarter. Alliancebernstein L.P. now owns 2,788,758 shares of the company’s stock worth $455,795,000 after buying an additional 2,537,768 shares during the period. Finally, Lord Abbett & CO. LLC lifted its position in shares of Reddit by 12.8% during the 4th quarter. Lord Abbett & CO. LLC now owns 1,861,998 shares of the company’s stock valued at $304,325,000 after buying an additional 211,636 shares in the last quarter.

Insider Activity at Reddit

In other Reddit news, CFO Andrew Vollero sold 100,000 shares of the stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $124.08, for a total transaction of $12,408,000.00. Following the completion of the transaction, the chief financial officer now owns 499,295 shares of the company’s stock, valued at $61,952,523.60. This represents a 16.69 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Steve Ladd Huffman sold 14,000 shares of Reddit stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $172.79, for a total value of $2,419,060.00. Following the completion of the sale, the chief executive officer now directly owns 614,394 shares in the company, valued at $106,161,139.26. This represents a 2.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 603,794 shares of company stock valued at $89,386,704.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on RDDT. Redburn Atlantic started coverage on Reddit in a research note on Monday, March 17th. They set a “sell” rating and a $75.00 price target on the stock. Redburn Partners set a $75.00 price target on shares of Reddit in a research note on Monday, March 17th. Piper Sandler decreased their price target on shares of Reddit from $220.00 to $140.00 and set an “overweight” rating for the company in a report on Thursday. Seaport Res Ptn raised shares of Reddit to a “hold” rating in a report on Thursday, February 6th. Finally, Guggenheim reduced their target price on Reddit from $210.00 to $170.00 and set a “buy” rating for the company in a research note on Thursday, March 20th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $151.73.

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.