Reddit, Inc. (NYSE:RDDT) CEO Sells $1,445,920.00 in Stock

Reddit, Inc. (NYSE:RDDT) CEO Steve Ladd Huffman sold 14,000 shares of the firm’s stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $103.28, for a total value of $1,445,920.00. Following the completion of the sale, the chief executive officer now owns 577,013 shares of the company’s stock, valued at approximately $59,593,902.64. This represents a 2.37 % 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 the SEC website.

Steve Ladd Huffman also recently made the following trade(s):

• On Friday, March 14th, Steve Ladd Huffman sold 124,408 shares of Reddit stock. The stock was sold at an average price of $127.36, for a total value of $15,844,602.88.
• On Friday, February 28th, Steve Ladd Huffman sold 14,000 shares of Reddit stock. The shares were sold at an average price of $160.30, for a total value of $2,244,200.00.
• On Tuesday, February 18th, Steve Ladd Huffman sold 14,000 shares of Reddit stock. The stock was sold at an average price of $187.78, for a total value of $2,628,920.00.
• On Friday, January 31st, Steve Ladd Huffman sold 14,000 shares of Reddit stock. The stock was sold at an average price of $201.96, for a total transaction of $2,827,440.00.
• On Wednesday, January 15th, Steve Ladd Huffman sold 14,000 shares of Reddit stock. The shares were sold at an average price of $172.79, for a total transaction of $2,419,060.00.

Reddit Price Performance

Shares of NYSE RDDT opened at $86.72 on Friday. The stock has a market capitalization of $15.69 billion and a PE ratio of -11.22. Reddit, Inc. has a one year low of $37.35 and a one year high of $230.41. The business’s fifty day moving average price is $157.86 and its 200-day moving average price is $138.72.

Reddit (NYSE:RDDT) last released its quarterly earnings data 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 net margin of 37.25% and a negative return on equity of 24.71%. As a group, equities analysts expect that Reddit, Inc. will post 1.12 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Plato Investment Management Ltd purchased a new stake in shares of Reddit during the fourth quarter worth $27,000. EverSource Wealth Advisors LLC bought a new stake in shares of Reddit during the 4th quarter valued at $28,000. Ridgewood Investments LLC lifted its holdings in Reddit by 100.0% during the 4th quarter. Ridgewood Investments LLC now owns 200 shares of the company’s stock worth $33,000 after purchasing an additional 100 shares in the last quarter. Farmers & Merchants Investments Inc. bought a new position in Reddit in the 4th quarter worth about $33,000. Finally, Bogart Wealth LLC purchased a new position in Reddit during the 4th quarter valued at about $33,000.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on RDDT shares. Guggenheim lowered their target price on shares of Reddit from $210.00 to $170.00 and set a “buy” rating on the stock in a report on Thursday, March 20th. Raymond James dropped their target price on Reddit from $250.00 to $200.00 and set a “strong-buy” rating on the stock in a report on Wednesday, March 12th. B. Riley lifted their target price on Reddit from $112.00 to $187.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. Morgan Stanley increased 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. Finally, Piper Sandler lifted their price objective on shares of Reddit from $210.00 to $220.00 and gave the stock an “overweight” rating in a report on Friday, February 21st. Two analysts have rated the stock with a sell rating, seven have given a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Reddit currently has an average rating of “Moderate Buy” and an average price target of $163.00.

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.