Andrew Vollero Sells 48,122 Shares of Reddit, Inc. (NYSE:RDDT) Stock

Reddit, Inc. (NYSE:RDDT) CFO Andrew Vollero sold 48,122 shares of the stock in a transaction on Monday, February 24th. The stock was 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 owns 599,295 shares of the company’s stock, valued at approximately $97,565,226. This represents a 7.43 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Reddit Price Performance

Shares of NYSE RDDT opened at $159.45 on Friday. The company has a market cap of $28.84 billion and a PE ratio of -20.63. Reddit, Inc. has a 12 month low of $37.35 and a 12 month high of $230.41. The company has a 50-day simple moving average of $183.75 and a 200-day simple moving average of $126.22.

Reddit (NYSE:RDDT) last posted its quarterly 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%. On average, analysts anticipate that Reddit, Inc. will post 1.12 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on RDDT. Robert W. Baird upped their target price on shares of Reddit from $160.00 to $185.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. Morgan Stanley upped their price objective on Reddit from $200.00 to $210.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Raymond James increased their price target on Reddit from $200.00 to $250.00 and gave the stock a “strong-buy” rating in a report on Monday, February 10th. Seaport Res Ptn raised Reddit to a “hold” rating in a report on Thursday, February 6th. Finally, Roth Mkm cut shares of Reddit from a “buy” rating to a “neutral” rating and upped their price target for the stock from $116.00 to $195.00 in a research note on Wednesday, January 22nd. 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 issued a strong buy rating to the stock. According to data from MarketBeat, Reddit currently has a consensus rating of “Moderate Buy” and a consensus target price of $175.95.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Ridgewood Investments LLC raised its holdings in Reddit by 100.0% in the fourth quarter. Ridgewood Investments LLC now owns 200 shares of the company’s stock valued at $33,000 after buying an additional 100 shares during the period. Proficio Capital Partners LLC boosted its position in Reddit by 2.1% in the 4th quarter. Proficio Capital Partners LLC now owns 5,908 shares of the company’s stock valued at $966,000 after buying an additional 120 shares during the last quarter. Farther Finance Advisors LLC boosted its holdings in Reddit by 148.5% in the fourth quarter. Farther Finance Advisors LLC now owns 246 shares of the company’s stock valued at $40,000 after purchasing an additional 147 shares during the last quarter. UMB Bank n.a. boosted its stake in shares of Reddit by 10.8% during the 4th quarter. UMB Bank n.a. now owns 1,533 shares of the company’s stock valued at $251,000 after buying an additional 150 shares during the last quarter. Finally, Foundations Investment Advisors LLC grew its holdings in Reddit by 3.0% during the 4th quarter. Foundations Investment Advisors LLC now owns 5,325 shares of the company’s stock worth $870,000 after acquiring an additional 155 shares in the last quarter.

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.