Reddit (NYSE:RDDT) Director Purchases 43,800 Shares

Reddit Inc. (NYSE:RDDT) Director Sarah Farrell bought 43,800 shares of Reddit stock in a transaction dated Tuesday, February 10th. The stock was acquired at an average price of $149.52 per share, with a total value of $6,548,976.00. Following the acquisition, the director directly owned 43,800 shares of the company’s stock, valued at approximately $6,548,976. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Reddit Stock Performance

NYSE:RDDT traded down $8.34 during trading hours on Thursday, hitting $130.95. 8,671,783 shares of the company’s stock traded hands, compared to its average volume of 6,709,134. The stock’s fifty day moving average price is $216.50 and its two-hundred day moving average price is $215.06. The firm has a market cap of $24.82 billion, a P/E ratio of 53.16, a P/E/G ratio of 1.03 and a beta of 2.17. Reddit Inc. has a twelve month low of $79.75 and a twelve month high of $282.95.

Reddit (NYSE:RDDT) last announced its quarterly earnings data on Thursday, February 5th. The company reported $1.24 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.28. The firm had revenue of $725.61 million during the quarter, compared to analyst estimates of $665.80 million. Reddit had a return on equity of 20.89% and a net margin of 24.05%.The business’s quarterly revenue was up 69.7% compared to the same quarter last year. During the same period last year, the company posted $0.36 EPS. On average, equities research analysts predict that Reddit Inc. will post 1.12 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Raiffeisen Bank International AG acquired a new stake in shares of Reddit in the third quarter worth $25,000. GW&K Investment Management LLC acquired a new stake in Reddit in the 3rd quarter worth $30,000. Cornerstone Planning Group LLC raised its position in shares of Reddit by 13,500.0% during the third quarter. Cornerstone Planning Group LLC now owns 136 shares of the company’s stock valued at $31,000 after buying an additional 135 shares during the last quarter. LOM Asset Management Ltd acquired a new position in shares of Reddit during the fourth quarter valued at about $33,000. Finally, Financial Perspectives Inc bought a new stake in shares of Reddit in the second quarter valued at about $34,000.

Wall Street Analyst Weigh In

RDDT has been the subject of a number of research reports. Wall Street Zen lowered shares of Reddit from a “buy” rating to a “hold” rating in a research note on Saturday, January 10th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Reddit in a report on Monday, December 29th. Wells Fargo & Company set a $196.00 price objective on Reddit in a research report on Monday. Roth Mkm upped their target price on Reddit from $210.00 to $215.00 and gave the stock a “neutral” rating in a research report on Friday, January 30th. Finally, China Renaissance assumed coverage on Reddit in a research note on Tuesday, December 9th. They set a “buy” rating and a $300.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $240.93.

Reddit Company Profile

Reddit is an online social news aggregation, discussion and content-sharing platform organized around user-created communities called “subreddits,” each focused on a particular topic or interest. Registered users submit links, text posts, images and video, and community members vote and comment to surface popular content. The site is accessed via its web platform and mobile apps for iOS and Android, and it supports live events such as Ask Me Anything (AMA) sessions and community-driven discussions.

Founded in 2005 by Steve Huffman and Alexis Ohanian, Reddit is headquartered in San Francisco and serves a global audience with particularly large user bases in the United States and other English-speaking markets.