Robert Sauerberg Sells 5,128 Shares of Reddit (NYSE:RDDT) Stock

Reddit Inc. (NYSE:RDDT) Director Robert Sauerberg sold 5,128 shares of the company’s stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $159.92, for a total value of $820,069.76. Following the transaction, the director directly owned 27,087 shares in the company, valued at approximately $4,331,753.04. This represents a 15.92% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Reddit Stock Performance

Shares of NYSE RDDT opened at $152.63 on Friday. Reddit Inc. has a fifty-two week low of $119.27 and a fifty-two week high of $282.95. The company has a market cap of $29.37 billion, a price-to-earnings ratio of 35.50, a PEG ratio of 0.51 and a beta of 2.03. The business’s 50 day moving average price is $171.76 and its 200-day moving average price is $158.39.

Reddit (NYSE:RDDT) last posted its quarterly earnings data on Thursday, July 30th. The company reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.30. The company had revenue of $804.91 million during the quarter, compared to analysts’ expectations of $731.00 million. Reddit had a return on equity of 29.02% and a net margin of 31.35%.Reddit’s revenue was up 61.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.45 EPS. Sell-side analysts predict that Reddit Inc. will post 5.27 earnings per share for the current year.

Analysts Set New Price Targets

RDDT has been the topic of a number of research analyst reports. B. Riley Financial upped their price target on shares of Reddit from $250.00 to $270.00 and gave the stock a “buy” rating in a report on Friday, July 31st. Citigroup reiterated a “market outperform” rating on shares of Reddit in a report on Monday. Roth Capital reissued a “neutral” rating and issued a $145.00 price objective on shares of Reddit in a research report on Monday, August 3rd. Raymond James Financial restated a “strong-buy” rating and issued a $205.00 target price on shares of Reddit in a research note on Monday, August 17th. Finally, Truist Financial raised their target price on shares of Reddit from $265.00 to $275.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Two research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and eleven have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $221.10.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in RDDT. Evansbrook LLC raised its holdings in shares of Reddit by 2.2% in the 1st quarter. Evansbrook LLC now owns 2,736 shares of the company’s stock valued at $368,000 after purchasing an additional 59 shares in the last quarter. Signaturefd LLC boosted its stake in shares of Reddit by 7.6% during the second quarter. Signaturefd LLC now owns 878 shares of the company’s stock valued at $152,000 after purchasing an additional 62 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Reddit by 48.1% during the second quarter. EverSource Wealth Advisors LLC now owns 197 shares of the company’s stock valued at $34,000 after purchasing an additional 64 shares in the last quarter. Florida Financial Advisors LLC increased its holdings in Reddit by 6.7% during the fourth quarter. Florida Financial Advisors LLC now owns 1,087 shares of the company’s stock valued at $250,000 after buying an additional 68 shares during the period. Finally, Diversified Trust Co increased its holdings in Reddit by 2.1% during the first quarter. Diversified Trust Co now owns 3,271 shares of the company’s stock valued at $440,000 after buying an additional 68 shares during the period.

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.