Reddit Inc. (NYSE:RDDT) CFO Sells $3,529,200.00 in Stock

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

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

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

Reddit Price Performance

Shares of NYSE RDDT traded down $1.58 during midday trading on Friday, hitting $139.58. The stock had a trading volume of 8,757,873 shares, compared to its average volume of 6,438,217. Reddit Inc. has a fifty-two week low of $49.13 and a fifty-two week high of $230.41. The firm has a market cap of $25.76 billion, a P/E ratio of 236.59, a price-to-earnings-growth ratio of 3.62 and a beta of 1.99. The company's 50-day simple moving average is $111.48 and its 200 day simple moving average is $142.64.

Reddit (NYSE:RDDT - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The company reported $0.13 EPS for the quarter, topping analysts' consensus estimates of $0.02 by $0.11. The firm had revenue of $392.36 million during the quarter, compared to analyst estimates of $370.55 million. Reddit had a return on equity of 5.69% and a net margin of 8.07%. The company's revenue was up 61.5% on a year-over-year basis. During the same period last year, the company earned ($8.19) earnings per share. Equities analysts expect that Reddit Inc. will post 1.12 EPS for the current fiscal year.

Analyst Ratings Changes

RDDT has been the topic of a number of research analyst reports. Raymond James Financial lowered their target price on Reddit from $250.00 to $200.00 and set a "strong-buy" rating on the stock in a report on Wednesday, March 12th. Seaport Res Ptn raised Reddit from a "hold" rating to a "strong-buy" rating in a research report on Monday, May 5th. JMP Securities reaffirmed a "market outperform" rating and set a $180.00 target price on shares of Reddit in a research report on Friday, May 2nd. Loop Capital cut their price target on Reddit from $210.00 to $200.00 and set a "buy" rating for the company in a report on Thursday, June 12th. Finally, The Goldman Sachs Group raised their price objective on shares of Reddit from $124.00 to $140.00 and gave the stock a "neutral" rating in a report on Friday, May 2nd. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Reddit presently has an average rating of "Moderate Buy" and an average target price of $139.35.

Hedge Funds Weigh In On Reddit

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Cim LLC acquired a new position in Reddit during the first quarter valued at approximately $795,000. First Hawaiian Bank acquired a new position in shares of Reddit in the first quarter valued at approximately $818,000. Rhumbline Advisers increased its position in shares of Reddit by 202.7% during the first quarter. Rhumbline Advisers now owns 13,682 shares of the company's stock worth $1,435,000 after acquiring an additional 9,162 shares in the last quarter. Siren L.L.C. acquired a new stake in shares of Reddit during the first quarter worth $2,465,000. Finally, Geneos Wealth Management Inc. raised its holdings in shares of Reddit by 344.6% during the first quarter. Geneos Wealth Management Inc. now owns 369 shares of the company's stock worth $39,000 after acquiring an additional 286 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.