Reddit, Inc. (NYSE:RDDT) CEO Steve Ladd Huffman Sells 6,714 Shares of Stock

Reddit, Inc. (NYSE:RDDT) CEO Steve Ladd Huffman sold 6,714 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $59.84, for a total transaction of $401,765.76. Following the sale, the chief executive officer now directly owns 658,352 shares of the company’s stock, valued at $39,395,783.68. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

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

• On Tuesday, August 20th, Steve Ladd Huffman sold 14,000 shares of Reddit stock. The shares were sold at an average price of $53.98, for a total transaction of $755,720.00.

Reddit Stock Down 0.9 %

Shares of NYSE:RDDT opened at $57.01 on Thursday. Reddit, Inc. has a fifty-two week low of $37.35 and a fifty-two week high of $78.08. The firm’s 50-day simple moving average is $61.89.

Reddit (NYSE:RDDT) last announced its quarterly earnings data on Tuesday, August 6th. The company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.25. The business had revenue of $281.20 million for the quarter, compared to the consensus estimate of $253.86 million. During the same period in the prior year, the company earned ($0.70) EPS. Reddit’s quarterly revenue was up 53.6% on a year-over-year basis. On average, equities analysts expect that Reddit, Inc. will post -4.17 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Global Retirement Partners LLC bought a new position in Reddit in the 1st quarter worth about $27,000. BNP Paribas Financial Markets bought a new position in Reddit in the 1st quarter worth about $37,000. ANTIPODES PARTNERS Ltd bought a new position in Reddit in the 1st quarter worth about $63,000. SOA Wealth Advisors LLC. bought a new position in Reddit in the 2nd quarter worth about $78,000. Finally, Sandia Investment Management LP bought a new position in Reddit in the 1st quarter worth about $79,000.

Analysts Set New Price Targets

RDDT has been the topic of several recent research reports. Cannonball Research assumed coverage on shares of Reddit in a report on Tuesday, August 6th. They set a “buy” rating and a $67.00 target price on the stock. Loop Capital upgraded shares of Reddit from a “hold” rating to a “buy” rating and set a $75.00 price objective on the stock in a report on Thursday, August 1st. Roth Mkm cut their target price on shares of Reddit from $67.00 to $66.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Robert W. Baird upped their target price on shares of Reddit from $50.00 to $59.00 and gave the company a “neutral” rating in a research note on Wednesday, May 8th. Finally, Needham & Company LLC restated a “buy” rating and issued a $75.00 target price on shares of Reddit in a research note on Thursday, August 8th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Reddit presently has an average rating of “Moderate Buy” and a consensus price target of $65.56.

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.