Reddit Inc. (NYSE:RDDT - Get Free Report) CEO Steve Ladd Huffman sold 14,000 shares of the firm's stock in a transaction dated Monday, June 30th. The stock was sold at an average price of $151.35, for a total value of $2,118,900.00. Following the transaction, the chief executive officer owned 539,631 shares of the company's stock, valued at $81,673,151.85. This trade represents a 2.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Steve Ladd Huffman also recently made the following trade(s):
- On Monday, June 16th, Steve Ladd Huffman sold 124,409 shares of Reddit stock. The stock was sold at an average price of $124.45, for a total transaction of $15,482,700.05.
- On Friday, May 30th, Steve Ladd Huffman sold 14,000 shares of Reddit stock. The shares were sold at an average price of $110.05, for a total transaction of $1,540,700.00.
- On Thursday, May 15th, Steve Ladd Huffman sold 124,408 shares of Reddit stock. The stock was sold at an average price of $114.98, for a total value of $14,304,431.84.
- On Tuesday, May 6th, Steve Ladd Huffman sold 14,000 shares of Reddit stock. The shares were sold at an average price of $110.67, for a total value of $1,549,380.00.
- On Tuesday, April 15th, Steve Ladd Huffman sold 124,408 shares of Reddit stock. The stock was sold at an average price of $96.65, for a total value of $12,024,033.20.
Reddit Price Performance
Shares of RDDT stock traded down $1.99 on Friday, hitting $157.35. The stock had a trading volume of 4,041,162 shares, compared to its average volume of 6,645,023. The business has a 50 day moving average of $121.57 and a 200 day moving average of $141.46. Reddit Inc. has a 12-month low of $49.13 and a 12-month high of $230.41. The stock has a market cap of $29.03 billion, a price-to-earnings ratio of 266.70, a price-to-earnings-growth ratio of 4.03 and a beta of 2.33.
Reddit (NYSE:RDDT - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The company reported $0.13 EPS for the quarter, beating the consensus estimate of $0.02 by $0.11. Reddit had a net margin of 8.07% and a return on equity of 5.69%. The firm had revenue of $392.36 million during the quarter, compared to analyst estimates of $370.55 million. During the same quarter last year, the business posted ($8.19) EPS. The company's revenue for the quarter was up 61.5% on a year-over-year basis. As a group, research analysts expect that Reddit Inc. will post 1.12 earnings per share for the current fiscal year.
Institutional Trading of Reddit
A number of institutional investors and hedge funds have recently modified their holdings of the business. Plato Investment Management Ltd purchased a new stake in shares of Reddit during the 4th quarter valued at $27,000. CWM LLC grew its position in Reddit by 100.0% during the first quarter. CWM LLC now owns 256 shares of the company's stock valued at $27,000 after buying an additional 128 shares during the period. EverSource Wealth Advisors LLC purchased a new stake in Reddit during the fourth quarter worth about $28,000. Stone House Investment Management LLC bought a new stake in Reddit in the first quarter worth about $31,000. Finally, Tucker Asset Management LLC bought a new stake in Reddit in the fourth quarter worth about $39,000.
Wall Street Analyst Weigh In
Several brokerages have issued reports on RDDT. Redburn Atlantic assumed 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. Seaport Res Ptn raised shares of Reddit from a "hold" rating to a "strong-buy" rating in a research note on Monday, May 5th. B. Riley restated a "buy" rating and issued a $220.00 price target (down from $222.00) on shares of Reddit in a report on Friday, May 2nd. Raymond James Financial dropped their price objective on shares of Reddit from $250.00 to $200.00 and set a "strong-buy" rating on the stock in a report on Wednesday, March 12th. Finally, Roth Mkm raised their target price on Reddit from $120.00 to $130.00 and gave the company a "neutral" rating in a research note on Friday, May 2nd. One analyst has rated the stock with a sell rating, nine have given a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, Reddit has a consensus rating of "Moderate Buy" and an average price target of $139.70.
Read Our Latest Report on RDDT
Reddit Company Profile
(
Get Free Report)
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.
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