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 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 Price Performance

Shares of NYSE:RDDT opened at $107.16 on Thursday. The firm has a market capitalization of $19.39 billion and a PE ratio of -13.86. Reddit, Inc. has a 1 year low of $40.85 and a 1 year high of $230.41. The firm’s 50-day moving average is $125.17 and its two-hundred day moving average is $141.03.

Reddit (NYSE:RDDT) last announced its earnings results on Wednesday, February 12th. The company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.12. Reddit had a negative net margin of 37.25% and a negative return on equity of 24.71%. Analysts expect that Reddit, Inc. will post 1.12 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Benjamin Seong Lee sold 92,299 shares of the company’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $157.35, for a total value of $14,523,247.65. Following the completion of the transaction, the insider now directly owns 115,001 shares in the company, valued at approximately $18,095,407.35. This represents a 44.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Andrew Vollero sold 48,122 shares of the firm’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $162.80, for a total transaction of $7,834,261.60. Following the sale, the chief financial officer now directly owns 599,295 shares of the company’s stock, valued at approximately $97,565,226. The trade was a 7.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 709,202 shares of company stock valued at $95,406,208.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. JMP Securities set a $155.00 target price on Reddit in a report on Friday, March 28th. Needham & Company LLC reiterated a “buy” rating and issued a $220.00 price objective on shares of Reddit in a research note on Friday, March 21st. Loop Capital reissued a “buy” rating and set a $210.00 price objective on shares of Reddit in a research report on Tuesday, March 11th. Redburn Partners set a $75.00 target price on shares of Reddit in a report on Monday, March 17th. Finally, Truist Financial assumed coverage on shares of Reddit in a research note on Monday, April 7th. They issued a “buy” rating and a $150.00 price target for the company. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $142.22.

Hedge Funds Weigh In On Reddit

Institutional investors have recently added to or reduced their stakes in the business. Plato Investment Management Ltd purchased a new stake in Reddit in the 4th quarter valued at about $27,000. EverSource Wealth Advisors LLC purchased a new stake in Reddit during the fourth quarter worth approximately $28,000. Ridgewood Investments LLC increased 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 acquiring an additional 100 shares in the last quarter. Farmers & Merchants Investments Inc. purchased a new position in shares of Reddit in the 4th quarter valued at $33,000. Finally, Bogart Wealth LLC acquired a new position 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.

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.