Reddit Inc. (NYSE:RDDT) CFO Andrew Vollero Sells 30,000 Shares

Reddit Inc. (NYSE:RDDT - Get Free Report) CFO Andrew Vollero sold 30,000 shares of the stock in a transaction on Friday, June 13th. The shares were sold at an average price of $117.64, for a total value of $3,529,200.00. Following the completion of the transaction, the chief financial officer now owns 333,806 shares of the company's stock, valued at $39,268,937.84. This trade represents a 8.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Andrew Vollero also recently made the following trade(s):

• On Monday, March 24th, Andrew Vollero sold 100,000 shares of Reddit stock. The shares were sold at an average price of $124.08, for a total value of $12,408,000.00.

Reddit Trading Up 4.3%

RDDT traded up $5.76 during trading on Wednesday, reaching $139.60. 8,454,825 shares of the company's stock were exchanged, compared to its average volume of 7,954,825. Reddit Inc. has a one year low of $49.13 and a one year high of $230.41. The firm has a fifty day moving average price of $110.09 and a two-hundred day moving average price of $142.66. The stock has a market capitalization of $25.76 billion, a PE ratio of 236.40, a price-to-earnings-growth ratio of 3.24 and a beta of 1.99.

Reddit (NYSE:RDDT - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported $0.13 EPS for the quarter, beating analysts' consensus estimates of $0.02 by $0.11. Reddit had a net margin of 8.07% and a return on equity of 5.69%. The business had revenue of $392.36 million for the quarter, compared to analysts' expectations of $370.55 million. During the same quarter in the prior year, the firm posted ($8.19) earnings per share. The business's quarterly revenue was up 61.5% compared to the same quarter last year. Sell-side analysts expect that Reddit Inc. will post 1.12 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Truist Financial began coverage on Reddit in a research report on Monday, April 7th. They issued a "buy" rating and a $150.00 target price on the stock. Royal Bank Of Canada assumed coverage on shares of Reddit in a research report on Tuesday, June 3rd. They issued a "sector perform" rating and a $125.00 price target on the stock. JMP Securities reiterated a "market outperform" rating and issued a $180.00 target price on shares of Reddit in a research note on Friday, May 2nd. The Goldman Sachs Group upped their price target on Reddit from $124.00 to $140.00 and gave the company a "neutral" rating in a report on Friday, May 2nd. Finally, Wall Street Zen upgraded shares of Reddit from a "hold" rating to a "buy" rating in a research report on Saturday. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $139.35.

Hedge Funds Weigh In On Reddit

Several institutional investors have recently added to or reduced their stakes in RDDT. Plato Investment Management Ltd acquired a new stake in shares of Reddit in the 4th quarter valued at about $27,000. CWM LLC increased its stake in Reddit by 100.0% in the 1st quarter. CWM LLC now owns 256 shares of the company's stock valued at $27,000 after buying an additional 128 shares during the last quarter. EverSource Wealth Advisors LLC bought a new stake in Reddit during the fourth quarter worth $28,000. Stone House Investment Management LLC bought a new position in Reddit during the first quarter valued at about $31,000. Finally, Allworth Financial LP grew its position in shares of Reddit by 970.0% during the 4th quarter. Allworth Financial LP now owns 214 shares of the company's stock valued at $35,000 after acquiring an additional 194 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.