Reddit, Inc. (NYSE:RDDT) CTO Sells $3,418,800.00 in Stock

Reddit, Inc. (NYSE:RDDT) CTO Christopher Brian Slowe sold 21,000 shares of Reddit stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $162.80, for a total value of $3,418,800.00. Following the sale, the chief technology officer now directly owns 281,213 shares in the company, valued at approximately $45,781,476.40. This trade represents a 6.95 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Christopher Brian Slowe also recently made the following trade(s):

• On Wednesday, January 22nd, Christopher Brian Slowe sold 5,000 shares of Reddit stock. The stock was sold at an average price of $184.15, for a total value of $920,750.00.
• On Monday, December 23rd, Christopher Brian Slowe sold 11,000 shares of Reddit stock. The stock was sold at an average price of $169.85, for a total value of $1,868,350.00.

Reddit Trading Up 1.5 %

NYSE:RDDT opened at $162.13 on Friday. Reddit, Inc. has a 1 year low of $37.35 and a 1 year high of $230.41. The firm has a 50 day moving average of $183.57 and a 200-day moving average of $126.99. The stock has a market capitalization of $29.33 billion and a P/E ratio of -20.97.

Reddit (NYSE:RDDT) last posted its earnings results on Wednesday, February 12th. The company reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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, analysts forecast that Reddit, Inc. will post 1.12 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Ridgewood Investments LLC raised its position in Reddit by 100.0% in the 4th quarter. Ridgewood Investments LLC now owns 200 shares of the company’s stock worth $33,000 after purchasing an additional 100 shares during the last quarter. Proficio Capital Partners LLC raised 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 worth $966,000 after purchasing an additional 120 shares during the last quarter. Farther Finance Advisors LLC raised its position in Reddit by 148.5% in the 4th quarter. Farther Finance Advisors LLC now owns 246 shares of the company’s stock worth $40,000 after purchasing an additional 147 shares during the last quarter. UMB Bank n.a. raised its position in Reddit by 10.8% in the 4th quarter. UMB Bank n.a. now owns 1,533 shares of the company’s stock worth $251,000 after purchasing an additional 150 shares during the last quarter. Finally, Foundations Investment Advisors LLC raised its position in Reddit by 3.0% in the 4th quarter. Foundations Investment Advisors LLC now owns 5,325 shares of the company’s stock worth $870,000 after purchasing an additional 155 shares during the last quarter.

Wall Street Analysts Forecast Growth

RDDT has been the topic of a number of recent research reports. Needham & Company LLC lifted their target price on Reddit from $190.00 to $220.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Roth Mkm downgraded Reddit from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $116.00 to $195.00 in a research report on Wednesday, January 22nd. B. Riley lifted their target price on Reddit from $112.00 to $187.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. Bank of America lifted their target price on Reddit from $180.00 to $190.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. Finally, Guggenheim started coverage on Reddit in a report on Friday, December 20th. They set a “buy” rating and a $210.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $175.95.

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.