Reddit (RDDT) shares have surged 167.3% in the year-to-date period compared with the broader Zacks Computer & Technology sector’s appreciation of 30%.RDDT shares have also outperformed the Zacks Internet Software industry and its peer Snap (SNAP) over the same time frame.While Snap shares have plummeted 29% year to date, the industry has appreciated 29.8%.Reddit’s robust stock price performance has been driven by its impressive third-quarter 2024 results.YTD PerformanceImage Source: Zacks Investment Researc ...

Michael Seibel, a director at Reddit, Inc. (NYSE: RDDT), recently sold a substantial portion of his holdings, as disclosed in a filing with the U.S. Securities and Exchange Commission (SEC). On November 1, 2024, Seibel offloaded a total of 82,819 shares of Reddit’s Class A Common Stock across several transactions, generating approximately $9.22 million in proceeds.Form 4 filing detailing Michael Seibel’s sale of Reddit stock. Source: SECThe transactions included the sale of 27,897 shares at $111.26 per shar ...

Core Insights - Reddit (NYSE: RDDT) had its IPO on March 21, with shares opening at $50 and currently trading at $124.62, reflecting a 70.25% monthly rally and 147.06% year-to-date returns [2] - The stock experienced a significant price swing following a strong Q3 2024 earnings report, rising 49.95% from a previous low of $81.74 [3] - Insider selling, including a recent $9.3 million trade by CEO Steve Huffman and a sale of 5,000 shares by board member Gale Mary Porter, raises concerns about the stock's long-term prospects [3][4] Company Performance - RDDT shares have shown resilience in the competitive social media market, maintaining a positive trajectory since the IPO, with notable price increases in recent months [2] - The stock's performance has been characterized by volatility, with mixed sentiment regarding its ability to sustain high valuations [3] Insider Trading Activity - Gale Mary Porter sold 5,000 shares at an average price of $114.4, totaling $572,000, which may indicate a strategic profit-taking move [4] - The sale was not conducted under a 10b5-1 plan, attracting regulatory scrutiny, although Porter still holds 46,309 shares, suggesting a lack of strong bearish sentiment [5]

One of the biggest market debuts of 2024 is also one of its biggest gainers.Most of the companies that went public this year are struggling to stand out. Buying an IPO can be risky. However, 14 of the 186 debutantes of 2024 have more than doubled. Most of them are obscure, but one of this year's biggest rookie winners is a familiar household name.Shares of Reddit (RDDT -3.50%) have more than tripled since the company went public at $34 in March. The online forum that bills itself as a community of communiti ...

Reddit TodayRDDTReddit$110.64 -2.34 (-2.07%) 52-Week Range$37.35▼$123.60Price Target$89.72Add to WatchlistShares of Reddit NYSE: RDDT, the well-known social media giant, surged by as much as 50% last week following a stellar Q3 earnings report that sent the stock to new all-time highs. After pulling back briefly from highs on Thursday, the stock closed the week at $112.98, up an impressive 38.8% on the week, compared to the overall market’s negative 1.38% weekly performance. YTD shares of Reddit are now up ...

This article has been reviewed according to Science X's editorial process and policies . Editors have highlighted the following attributes while ensuring the content's credibility: Reddit CEO Steve Huffman and company employees celebrate on the New York Stock Exchange trading floor, prior to his company's IPO, March. 21, 2024. Credit: AP Photo/Yuki Iwamura, File Reddit has turned a profit for the first time as a public company. The social platform claimed a profit of $29.9 million, or 16 cents per share, ...

Soaring to new highs, Reddit’s (RDDT)  stock has spiked more than +30% today after crushing its third-quarter expectations after market hours on Tuesday.Standing out in a week that features much anticipated quarterly results from five of the Magnificent 7 big tech stocks, Reddit is making the case for being at a positive inflection point with RDDT sporting a Zacks Rank #2 (Buy).Image Source: Zacks Investment Research Reddit’s Strong Q3 ResultsAfter launching its IPO earlier in the year, Reddit’s online soci ...

About this content About Emily Jarvie Emily began her career as a political journalist for Australian Community Media in Hobart, Tasmania. After she relocated to Toronto, Canada, she reported on business, legal, and scientific developments in the emerging psychedelics sector before joining Proactive in 2022. She brings a strong journalism background with her work featured in newspapers, magazines, and digital publications across Australia, Europe, and North America, including The Examiner, The Advocate, ...

Reddit (RDDT) reported third-quarter 2024 earnings of 16 cents per share, comfortably beating the Zacks Consensus Estimate of a loss of 7 cents per share. Reddit had reported a loss of 13 cents per share in the year-ago quarter.Find the latest EPS estimates and surprises on Zacks Earnings Calendar.Revenues of $348.4 million surpassed the Zacks Consensus Estimate by 11.31%. The reported figure rallied 68% year over year.Reddit offered a strong fourth-quarter 2024 guidance. This, along with the solid third-qu ...

ToplineReddit reported an increase in third-quarter revenue that exceeded analyst expectations, sending the social media company’s stock soaring Wednesday toward its best day since going public in March, as analysts say the firm is benefitting from new search algorithms and other licensing deals.Analysts say the social media company benefitted from new search algorithms and other licensing ... [+] deals.SOPA Images/LightRocket via Getty Images Key FactsShares of Reddit increased by more than 38% to over $11 ...