Reddit Inc. (NYSE:RDDT - Get Free Report) CAO Michelle Marie Reynolds sold 909 shares of Reddit stock in a transaction on Monday, June 16th. The stock was sold at an average price of $125.00, for a total transaction of $113,625.00. Following the sale, the chief accounting officer now owns 41,368 shares of the company's stock, valued at $5,171,000. The trade was a 2.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Michelle Marie Reynolds also recently made the following trade(s):
- On Thursday, May 22nd, Michelle Marie Reynolds sold 2,729 shares of Reddit stock. The stock was sold at an average price of $98.85, for a total transaction of $269,761.65.
Reddit Stock Performance
Shares of RDDT stock traded up $7.44 on Wednesday, reaching $141.28. 12,160,277 shares of the company were exchanged, compared to its average volume of 6,416,556. The company has a market cap of $26.07 billion, a price-to-earnings ratio of 226.85, a P/E/G ratio of 3.44 and a beta of 1.99. The business has a 50-day moving average price of $110.09 and a 200 day moving average price of $142.66. Reddit Inc. has a 1 year low of $49.13 and a 1 year high of $230.41.
Reddit (NYSE:RDDT - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported $0.13 EPS for the quarter, topping analysts' consensus estimates of $0.02 by $0.11. The business had revenue of $392.36 million during the quarter, compared to analysts' expectations of $370.55 million. Reddit had a net margin of 8.07% and a return on equity of 5.69%. The company's quarterly revenue was up 61.5% on a year-over-year basis. During the same quarter in the previous year, the company earned ($8.19) earnings per share. As a group, equities analysts anticipate that Reddit Inc. will post 1.12 earnings per share for the current year.
Wall Street Analysts Forecast Growth
Several research analysts recently issued reports on the stock. Seaport Res Ptn raised shares of Reddit from a "hold" rating to a "strong-buy" rating in a report on Monday, May 5th. Loop Capital reduced their target price on shares of Reddit from $210.00 to $200.00 and set a "buy" rating for the company in a report on Thursday, June 12th. JMP Securities reissued a "market outperform" rating and set a $180.00 target price on shares of Reddit in a report on Friday, May 2nd. Wells Fargo & Company set a $115.00 target price on shares of Reddit and gave the stock an "equal weight" rating in a report on Monday, May 19th. Finally, Roth Capital reissued a "neutral" rating on shares of Reddit in a report on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $139.35.
Read Our Latest Report on RDDT
Hedge Funds Weigh In On Reddit
Institutional investors and hedge funds have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. boosted its position in Reddit by 27.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 642,456 shares of the company's stock worth $105,003,000 after acquiring an additional 139,135 shares during the last quarter. Assetmark Inc. boosted its position in Reddit by 1,537,566.7% during the fourth quarter. Assetmark Inc. now owns 46,130 shares of the company's stock worth $7,539,000 after acquiring an additional 46,127 shares during the last quarter. Chung Wu Investment Group LLC acquired a new position in Reddit in the 4th quarter valued at about $327,000. Truxt Investmentos Ltda. acquired a new position in Reddit in the 4th quarter valued at about $1,321,000. Finally, Proficio Capital Partners LLC boosted its holdings in Reddit by 16,582.9% in the 4th quarter. Proficio Capital Partners LLC now owns 965,604 shares of the company's stock valued at $157,818,000 after purchasing an additional 959,816 shares during the last quarter.
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.
Further Reading
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