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

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 Stock Performance

NYSE:RDDT opened at $123.01 on Wednesday. Reddit, Inc. has a 52-week low of $37.35 and a 52-week high of $230.41. The stock has a fifty day moving average of $179.61 and a 200 day moving average of $132.31. The firm has a market capitalization of $22.25 billion and a price-to-earnings ratio of -15.91.

Reddit (NYSE:RDDT) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $0.36 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%. Equities analysts forecast that Reddit, Inc. will post 1.12 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Steve Ladd Huffman sold 14,000 shares of the stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $201.96, for a total value of $2,827,440.00. Following the completion of the transaction, the chief executive officer now directly owns 614,394 shares of the company’s stock, valued at $124,083,012.24. This represents a 2.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Andrew Vollero sold 48,122 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $162.80, for a total value of $7,834,261.60. Following the transaction, the chief financial officer now owns 599,295 shares in the company, valued at $97,565,226. This trade represents a 7.43 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 393,386 shares of company stock valued at $66,673,388 over the last quarter.

Hedge Funds Weigh In On Reddit

Hedge funds and other institutional investors have recently modified their holdings of the company. Jennison Associates LLC bought a new stake in shares of Reddit in the fourth quarter worth about $494,861,000. Renaissance Capital LLC grew its position in shares of Reddit by 14.2% in the 4th quarter. Renaissance Capital LLC now owns 31,236 shares of the company’s stock worth $5,105,000 after buying an additional 3,892 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Reddit by 27.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 642,456 shares of the company’s stock worth $105,003,000 after buying an additional 139,135 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of Reddit by 3,640.5% during the third quarter. Wellington Management Group LLP now owns 255,325 shares of the company’s stock valued at $16,831,000 after buying an additional 248,499 shares during the period. Finally, Assetmark Inc. raised its holdings in shares of Reddit by 1,537,566.7% during the fourth quarter. Assetmark Inc. now owns 46,130 shares of the company’s stock valued at $7,539,000 after acquiring an additional 46,127 shares in the last quarter.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Citigroup reissued a “neutral” rating on shares of Reddit in a research note on Thursday, February 13th. Wells Fargo & Company upped their target price on shares of Reddit from $206.00 to $215.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Morgan Stanley raised their price target on Reddit from $200.00 to $210.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. JMP Securities upped their price objective on Reddit from $190.00 to $200.00 and gave the stock a “market outperform” rating in a report on Thursday, February 13th. Finally, Roth Mkm lowered Reddit from a “buy” rating to a “neutral” rating and increased their price objective for the company from $116.00 to $195.00 in a research report on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $175.95.

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.