Reddit, Inc. (NYSE:RDDT) CTO Sells $1,097,250.00 in Stock

Reddit, Inc. (NYSE:RDDT) CTO Christopher Brian Slowe sold 11,000 shares of the stock in a transaction that occurred on Tuesday, April 22nd. The shares were sold at an average price of $99.75, for a total transaction of $1,097,250.00. Following the completion of the sale, the chief technology officer now owns 281,213 shares in the company, valued at $28,050,996.75. This represents a 3.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

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

• On Thursday, April 24th, Christopher Brian Slowe sold 5,068 shares of Reddit stock. The shares were sold at an average price of $111.28, for a total transaction of $563,967.04.
• On Monday, March 24th, Christopher Brian Slowe sold 11,000 shares of Reddit stock. The stock was sold at an average price of $124.08, for a total transaction of $1,364,880.00.
• On Monday, February 24th, Christopher Brian Slowe sold 21,000 shares of Reddit stock. The stock was sold at an average price of $162.80, for a total transaction of $3,418,800.00.

Reddit Price Performance

RDDT opened at $118.35 on Friday. The stock has a market capitalization of $21.41 billion and a PE ratio of -15.31. Reddit, Inc. has a 12-month low of $42.65 and a 12-month high of $230.41. The firm’s fifty day moving average price is $122.11 and its 200 day moving average price is $141.65.

Reddit (NYSE:RDDT) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.12. Reddit had a negative return on equity of 24.71% and a negative net margin of 37.25%. On average, equities research analysts forecast that Reddit, Inc. will post 1.12 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have issued reports on RDDT shares. Redburn Atlantic started coverage on Reddit in a research note on Monday, March 17th. They issued a “sell” rating and a $75.00 price target on the stock. Needham & Company LLC restated a “buy” rating and issued a $220.00 target price on shares of Reddit in a report on Friday, March 21st. Guggenheim cut their price target on shares of Reddit from $210.00 to $170.00 and set a “buy” rating on the stock in a research note on Thursday, March 20th. Piper Sandler lowered their price objective on shares of Reddit from $220.00 to $140.00 and set an “overweight” rating for the company in a research note on Thursday, April 10th. Finally, Roth Capital lowered Reddit from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, January 22nd. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $142.22.

Hedge Funds Weigh In On Reddit

Large investors have recently added to or reduced their stakes in the company. Ridgewood Investments LLC increased its stake in Reddit by 100.0% during the fourth quarter. Ridgewood Investments LLC now owns 200 shares of the company’s stock valued at $33,000 after purchasing an additional 100 shares during the last quarter. Proficio Capital Partners LLC grew its position in shares of Reddit by 2.1% during the 4th quarter. Proficio Capital Partners LLC now owns 5,908 shares of the company’s stock valued at $966,000 after buying an additional 120 shares during the last quarter. Farther Finance Advisors LLC raised its stake in Reddit by 148.5% during the fourth quarter. Farther Finance Advisors LLC now owns 246 shares of the company’s stock worth $40,000 after acquiring an additional 147 shares during the period. UMB Bank n.a. lifted its holdings in Reddit by 10.8% in the fourth quarter. UMB Bank n.a. now owns 1,533 shares of the company’s stock worth $251,000 after acquiring an additional 150 shares during the last quarter. Finally, Foundations Investment Advisors LLC boosted its stake in Reddit by 3.0% in the fourth quarter. Foundations Investment Advisors LLC now owns 5,325 shares of the company’s stock valued at $870,000 after acquiring an additional 155 shares during the period.

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.