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 Up 6.5 %

RDDT stock opened at $130.74 on Thursday. The company’s fifty day simple moving average is $178.95 and its 200 day simple moving average is $132.30. Reddit, Inc. has a 12-month low of $37.35 and a 12-month high of $230.41. The firm has a market cap of $23.65 billion and a price-to-earnings ratio of -16.91.

Reddit (NYSE:RDDT) last announced its earnings results 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%. Research analysts expect that Reddit, Inc. will post 1.12 earnings per share for the current year.

Institutional Investors Weigh In On Reddit

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Concurrent Investment Advisors LLC bought a new position in shares of Reddit in the third quarter valued at approximately $372,000. SpiderRock Advisors LLC bought a new position in Reddit in the 3rd quarter valued at $3,485,000. Proficio Capital Partners LLC purchased a new stake in shares of Reddit during the 3rd quarter valued at $382,000. Long Walk Management LP raised its stake in shares of Reddit by 28.3% during the 3rd quarter. Long Walk Management LP now owns 715,000 shares of the company’s stock worth $47,133,000 after purchasing an additional 157,500 shares during the period. Finally, Chartwell Investment Partners LLC raised its stake in shares of Reddit by 80.8% during the 3rd quarter. Chartwell Investment Partners LLC now owns 22,544 shares of the company’s stock worth $1,486,000 after purchasing an additional 10,072 shares during the period.

Insider Buying and Selling

In other Reddit news, COO Jennifer L. Wong sold 33,333 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $176.23, for a total value of $5,874,274.59. Following the transaction, the chief operating officer now directly owns 1,504,297 shares in the company, valued at $265,102,260.31. The trade was a 2.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Benjamin Seong Lee sold 92,299 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $157.35, for a total transaction of $14,523,247.65. Following the sale, the insider now owns 115,001 shares of the company’s stock, valued at approximately $18,095,407.35. The trade was a 44.52 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 393,386 shares of company stock valued at $66,673,388.

Analysts Set New Price Targets

RDDT has been the subject of several research analyst reports. Wells Fargo & Company lifted their price objective on shares of Reddit from $206.00 to $215.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. JMP Securities upped their price objective on shares of Reddit from $190.00 to $200.00 and gave the company a “market outperform” rating in a report on Thursday, February 13th. Guggenheim started coverage on shares of Reddit in a research report on Friday, December 20th. They set a “buy” rating and a $210.00 price objective on the stock. Loop Capital reaffirmed a “buy” rating on shares of Reddit in a research report on Tuesday. Finally, Jefferies Financial Group increased their price target on Reddit from $120.00 to $175.00 and gave the stock a “buy” rating in a report on Monday, November 25th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Reddit currently has an average rating of “Moderate Buy” and a consensus price target of $173.45.

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.