Reddit Inc. (NYSE:RDDT) CEO Sells $2,038,820.00 in Stock

Reddit Inc. (NYSE:RDDT - Get Free Report) CEO Steve Ladd Huffman sold 14,000 shares of Reddit stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $145.63, for a total transaction of $2,038,820.00. Following the sale, the chief executive officer owned 539,631 shares in the company, valued at approximately $78,586,462.53. This represents a 2.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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 30th, Steve Ladd Huffman sold 14,000 shares of Reddit stock. The stock was sold at an average price of $151.35, for a total transaction of $2,118,900.00.
• 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 stock was 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 transaction of $14,304,431.84.
• On Tuesday, May 6th, Steve Ladd Huffman sold 14,000 shares of Reddit stock. The stock was sold at an average price of $110.67, for a total transaction of $1,549,380.00.

Reddit Stock Down 1.4%

Shares of RDDT stock traded down $2.02 during trading on Monday, hitting $146.22. The company had a trading volume of 5,043,311 shares, compared to its average volume of 6,749,244. Reddit Inc. has a 52 week low of $49.13 and a 52 week high of $230.41. The stock's 50-day moving average is $127.99 and its two-hundred day moving average is $139.48. The stock has a market capitalization of $26.98 billion, a price-to-earnings ratio of 247.84, a price-to-earnings-growth ratio of 3.81 and a beta of 2.33.

Reddit (NYSE:RDDT - Get Free Report) last announced its quarterly 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 company 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 firm's revenue was up 61.5% on a year-over-year basis. During the same quarter last year, the firm posted ($8.19) earnings per share. On average, research analysts predict that Reddit Inc. will post 1.12 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on RDDT shares. JMP Securities restated a "market outperform" rating and issued a $180.00 price target on shares of Reddit in a research report on Friday, May 2nd. The Goldman Sachs Group boosted their price target on shares of Reddit from $124.00 to $140.00 and gave the company a "neutral" rating in a research note on Friday, May 2nd. Guggenheim reiterated a "buy" rating and issued a $165.00 target price on shares of Reddit in a research note on Tuesday, June 24th. Roth Mkm upped their target price on shares of Reddit from $120.00 to $130.00 and gave the stock a "neutral" rating in a research note on Friday, May 2nd. Finally, Citigroup increased their price target on shares of Reddit from $158.00 to $163.00 and gave the company a "buy" rating in a research report on Tuesday, June 24th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $142.46.

Hedge Funds Weigh In On Reddit

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Tucker Asset Management LLC bought a new stake in Reddit in the 4th quarter worth about $39,000. Farther Finance Advisors LLC increased its holdings in Reddit by 148.5% in the 4th quarter. Farther Finance Advisors LLC now owns 246 shares of the company's stock worth $40,000 after buying an additional 147 shares in the last quarter. CWM LLC increased its holdings in Reddit by 100.0% in the 1st quarter. CWM LLC now owns 256 shares of the company's stock worth $27,000 after buying an additional 128 shares in the last quarter. Fourth Dimension Wealth LLC bought a new stake in shares of Reddit during the 4th quarter valued at about $49,000. Finally, Chelsea Counsel Co. bought a new stake in shares of Reddit during the 4th quarter valued at about $49,000.

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.

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