Reddit, Inc. (NYSE:RDDT) CEO Steve Ladd Huffman Sells 14,000 Shares

Reddit, Inc. (NYSE:RDDT - Get Free Report) CEO Steve Ladd Huffman sold 14,000 shares of the business's stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $110.05, for a total value of $1,540,700.00. Following the completion of the transaction, the chief executive officer now directly owns 560,133 shares in the company, valued at approximately $61,642,636.65. The trade was a 2.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Steve Ladd Huffman also recently made the following trade(s):

• 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 transaction 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.
• On Monday, March 31st, Steve Ladd Huffman sold 14,000 shares of Reddit stock. The shares were sold at an average price of $103.28, for a total transaction of $1,445,920.00.
• On Friday, March 14th, Steve Ladd Huffman sold 124,408 shares of Reddit stock. The stock was sold at an average price of $127.36, for a total transaction of $15,844,602.88.

Reddit Price Performance

Reddit stock traded up $8.95 during trading hours on Friday, reaching $121.19. The stock had a trading volume of 6,742,922 shares, compared to its average volume of 6,219,221. The stock has a market cap of $22.36 billion, a PE ratio of -15.68, a PEG ratio of 4.72 and a beta of 1.99. Reddit, Inc. has a 52 week low of $49.13 and a 52 week high of $230.41. The company has a fifty day simple moving average of $106.67 and a 200-day simple moving average of $143.70.

Reddit (NYSE:RDDT - Get Free Report) last announced its 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 negative net margin of 37.25% and a negative return on equity of 24.71%. The firm had revenue of $392.36 million for the quarter, compared to analysts' expectations of $370.55 million. During the same quarter in the previous year, the business posted ($8.19) EPS. The company's quarterly revenue was up 61.5% on a year-over-year basis. Research analysts predict that Reddit, Inc. will post 1.12 earnings per share for the current fiscal year.

Analyst Ratings Changes

RDDT has been the topic of a number of research reports. Oppenheimer started coverage on shares of Reddit in a research note on Wednesday, April 16th. They set an "outperform" rating and a $125.00 target price on the stock. Robert W. Baird dropped their price target on Reddit from $140.00 to $120.00 and set a "neutral" rating on the stock in a report on Wednesday, May 21st. JMP Securities restated a "market outperform" rating and issued a $180.00 price objective on shares of Reddit in a research note on Friday, May 2nd. Roth Mkm upped their price objective on shares of Reddit from $120.00 to $130.00 and gave the stock a "neutral" rating in a research report on Friday, May 2nd. Finally, Loop Capital restated a "buy" rating and set a $210.00 price target on shares of Reddit in a research report on Tuesday, March 11th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $139.78.

Institutional Investors Weigh In On Reddit

Several large investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its position in Reddit by 184.2% during the 4th quarter. Vanguard Group Inc. now owns 9,181,390 shares of the company's stock worth $1,500,606,000 after buying an additional 5,950,909 shares during the last quarter. Jennison Associates LLC acquired a new stake in Reddit during the fourth quarter worth $494,861,000. Alliancebernstein L.P. increased its position in shares of Reddit by 103.0% during the 1st quarter. Alliancebernstein L.P. now owns 5,659,990 shares of the company's stock worth $593,733,000 after purchasing an additional 2,871,232 shares during the last quarter. Brooklyn FI LLC acquired a new stake in shares of Reddit during the 4th quarter worth about $303,082,000. Finally, GQG Partners LLC acquired a new stake in shares of Reddit during the 4th quarter worth about $271,539,000.

About Reddit

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.